“It’s disappointing, but it was kind of on the wings coming for a while,” said Acting Kenner Mayor Michael G. Sigur in response to the Macy’s in The Esplanade announcing that it will close. Due to unproductive sales, Macy’s announced in August that it planned to close 100 stores across the nation. In addition, Sears Holdings have been reducing their total outlets for years now, and have announced the closing of the Kmart in Elmwood Shopping Center and the Sears in Gretna’s Oakwood Center.
The main concern of such large retailers closing is the city’s sales tax revenue taking a hit. However, officials are not worried because the effect on revenue won’t be anything extreme, but also because they are certain that alternative retailers will arrive in their wake. “Unfortunately, that’s the nature of retail - as one concepts sees their life mature, another concept is on the rise,” said Jerry Bologna, president and CEO of the Jefferson Parish Economic Development Commission, in response to the news of the closures. Other large vendors are already expressing interest in occupying the space that Macy’s will leave behind.
The Macy’s closing actually came at a time when The Esplanade was already being re-conceptualized. After recently being sold to Pacific Retail Capital Partners, the mall has plans to make updates and expansions. Macy’s replacement may well just blend in with the shopping center’s refurbishing projects. Officials are keeping optimistic and simply viewing these endings as new beginnings.
