Macy’s Inc. announced it will close of five locations in an effort to prune underperforming stores while looking to add new ones in markets where it sees a void. However, this year’s total closures numbered less than the 11 it shut in 2008. “We are committed to maintaining a healthy portfolio of stores, which requires […]
Macy’s Inc. announced it will close of five locations in an effort to prune underperforming stores while looking to add new ones in markets where it sees a void. However, this year’s total closures numbered less than the 11 it shut in 2008. “We are committed to maintaining a healthy portfolio of stores, which requires us to make the difficult decision to close some stores that no longer meet our performance requirements, as well as to open new stores where we see opportunities,” said Terry J. Lundgren, Macy’s chairman, president and CEO.
The following locations will be shuttered, with closeout sales starting this weekend and running for the next 60 days: downtown Boise, Idaho; Summit Place Mall in Waterford, Mich.; Northwest Plaza, St. Ann, Mo.; downtown Missoula, Mont.; and Burlington Center Mall in Burlington, N.J. The store closings will affect approximately 307 employees.
In 2009, Macy’s opened five new stores. In addition, it reopened Houston two stores that had closed after Hurricane Ike in 2008 and replaced an old store in Nampa, Idaho. In 2010, the Cincinnati-based retailer expects to open new Bloomingdale’s stores in Santa Monica, Calif., and Dubai (its first international location). Following the store closings, Macy’s Inc. will operate 849 stores (809 Macy’s and 40 Bloomingdale’s). Visit www.macys.com.
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