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New York and New Jersey just landed on Macy’s closure list — and that’s not a one-off retail headline. It’s a signal that the department-store model is running a full “anchor reset” across the Northeast: prune weaker locations, consolidate demand into fewer high-certainty stores, and push the business toward digital and smaller formats while the rest of the footprint quietly disappears. In this breakdown, Inspector Smith explains Macy’s 150-store purge playbook: why “underproductive” doesn’t mean “no customers,” how lease expirations make exits cheaper, and why an anchor store closure can trigger a domino effect through co-tenancy clauses that let smaller tenants cut rent or walk away. We’ll walk through the store-level math that breaks first in NY/NJ—higher occupancy costs, higher labor costs, softer and more volatile foot traffic patterns, and the shrink/markdown cycle that can flip a big-box store negative fast. Then we’ll zoom out to what matters most: what happens to malls, inline tenants, and local corridors when the anchor leaves. Have you noticed your local Macy’s getting quieter—or is it still a busy flagship? Drop your area in the comments. Want to verify the facts? Here are the source categories used in this video: Macy’s investor communications and press releases (including the “Bold New Chapter” plan), reputable reporting on the closure list and the NY/NJ locations, local business reporting on mall changes in New Jersey, industry analysis on co-tenancy clauses and anchor-tenant economics, and retail property research on vacancy cascades and mall redevelopment dynamics. Inspector Smith disclaimer: Inspector Smith is independent commentary, not financial advice. Information is based on publicly available sources and reputable reporting. This is for general information and entertainment.