Jefferson Parish will lose two large retailers this year: Macy’s at The Esplanade Mall and Kmart at the Elmwood Shopping Center.
The Macy’s closure is one of almost one hundred that the retailer announced it would close last year among slacking sales. They announced this week that they would close 68 stores in 2017, with more to come shortly thereafter. In August, they told investors that more than 100 stores would close and result in a savings of $550 million.
The Kmart closure was announced this week, and is one of several Kmart stores closing across the country. Kmart’s parent company, Sears, also announced that it will close the Sears at Oakwood Center in Gretna.
The two closures are a big hit to Jefferson Parish, which gets significant amounts of money from sales taxes. Since both spaces are incredibly large, the landlord’s will likely have a tough time filling them.
The Macy’s closure was most likely awful news for the owners of the Esplanade Mall, which just purchased it for $200 million in 2015.