Macy’s closing store in Coeur d’Alene

The parent company of Macy’s announced this week that it will be closing several dozen stores, which includes its Coeur d’Alene location at the Silver Lake Mall.

With the closure, it will leave the Macy’s at Spokane Valley Mall, at 14740 E. Indiana Ave., as the only local store left standing of the iconic retailer.

“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go-forward stores, where customers are already responding positively to better product offerings and elevated service,” Tony Spring, chairman and chief executive officer of Macy’s, Inc., said in a news release.

The strategy is focusing on investing in pilot stores, titled the “First 50,” which has boosted sales for three-straight quarters. Based on that success, Spring said in the release that he believes the company has built good momentum for the coming year.

On Thursday, Macy’s confirmed that its furniture outlet in Redmond and its department stores in Puyallup and Silverdale are among 66 “underperforming” locations that will close by March 31 as the retailer struggles to regain market share from brick-and-mortar and digital rivals, according to the Seattle Times.

The news brought certainty to locations where Macy’s would be closing after announcing pending closures last year.

In July, the company ended talks following buyout offers from Arkhouse Management Co. and Brigade Capital Management. At the time, Spring said those offers weren’t “compelling” because they didn’t have sufficient financial backing.

The closure of the Coeur d’Alene store follows a yearslong retreat for a store that once anchored several retail outlets.

Macy’s closed its downtown location at River Park Square in 2016. It closed its location at NorthTown Mall in 2021.