Shoppers walk through the Fashion Centre at Pentagon City, a shopping mall in Arlington, Virginia, February 2, 2024. As of early May, the company had 503 Macy's stores, including a small number of other concepts outside of malls. There were 352 shopping malls classified as Class A and B at the end of 2016, according to company reports, S&P Capital IQ and Coresight Research. That decline is sharper among Class C and D shopping malls, which fell from 684 malls in 2016 to 287 in 2022, according to the companies' research. At some distressed malls, Macy's may be the last anchor that remains.

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Persons: Justin Sullivan, Macy's, Tony Spring, Chris Wimmer, Saul Loeb, Taylor, Anand Kumar, Kumar, Naveen Jaggi Organizations: Fitch, Shoppers, Fashion Centre, Pentagon, Afp, Getty, JCPenney, Coresight, Nordstrom, Belk, Foods, Brookfield Properties Grocery Locations: San Leandro , California, Arlington , Virginia, U.S, JLL, San Francisco