WP ECONOMY SQUEEZE: FEDERATED STORES WILL PULL MACY’S FROM THE GALLERIA DON’T KNOW WHEN, JOINING SEARS IN GALLERIA DEPARTURE.

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WPCNR STREETWISE. By John F. Bailey. January 12, 2020:

The White Plains economy will suffer another blow to its economy coming up in the final six months of the coronavirus afflicted city economy.

Federated Department Stores has announced it will join Sears in departing The Galleria, closing its Macy’s store. Departure date of Macy’s is unknown. Sears will close January 24, according to Wikipedia.

The Macy’s shutdown will not help the White Plains sales tax receipts now 14% down from last year after the first five months of the city fiscal year, though the store is expected to stay open six months. The December sales tax handle has not yet been announced by the Department of Taxation and Finance, and is due to be reported January 19.

Target in the City Center, Nordstroms and Nieman-Marcus in The Westchester Mall and Bloomingdale’s are the remaining big box retailers in the city.

The City of White Plains has been eager to see how The Galleria will “reinvent itself,” as part of the new White Plains Transit District. That stretch along Main Street is currently awaiting the city to make clear their choices for developments on 4 city-owned parcels adjacent the Metro-North station and the start of construction on the White Plains Mall which has yet to begin.

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