The famous Macy’s “Shopping Bag” sign, a fixture in Herald Square for over six decades, is set to be taken down this weekend, according to sources.
This vibrant red-and-white sign rests on the corner of the flagship store at Broadway and West 34th Street, above a retail space of around 2,200 square feet that has been leased to Sunglass Hut for quite some time.
Discussions are ongoing between Macy’s and Kaufman Realty regarding advertising possibilities. It’s not exactly clear what will take the place of the iconic shopping bag sign, but word is that the new signage will be “modernized,” as indicated by officials.
Real estate professionals suggest that the decision stems from the rising costs of advertising on the large LED billboards in Times Square.
Macy’s has confirmed the removal is set for this weekend but hasn’t revealed any details about what might replace it or if they plan to continue using the space.
“As the neighborhood evolves, the current sign, while beloved, is becoming outdated and will be removed as part of a larger renovation,” Macy’s stated.
The company hinted at a forthcoming refreshed brand for Macy’s Herald Square that pays homage to its history while looking towards the future of the store.
Edward Hart, the CEO of Kaufman, chose not to comment when approached but was known to be out of town.
In 2021, Macy’s initiated a lawsuit against Kaufman, concerned about plans to lease the space to Amazon once Macy’s own lease expired.
Macy’s asserted that the billboard, located within their department store, is iconic itself. The lawsuit contended that a 1963 agreement forbids the landlord from leasing the sign to competitors, suggesting this restriction would last indefinitely.
The complaint claimed that Kaufman’s interpretation of the contract contradicted Macy’s understanding. A lawyer representing Kaufman stated that they had the right to license billboard space to outside advertisers and would seek negotiations with different advertisers.
It appears that the two companies have since reached a resolution regarding the lawsuit.
