The magic of Macy’s? Watch 11 stores disappear. Over a year ago Macy’s said they would close 9 stores, but a heinous holiday season (Macy’s cut their outlook as December sales dipped 4%) has raised the number of closures to 11.
"The decision to close stores is difficult, and often occurs when the
market changes, new competing shopping centers are opened nearby to
existing older ones, or when customers change shopping habits. In the
store closing process, we are committed to treating affected associates
with respect and openness," said Terry J. Lundgren, chairman, president
and chief executive officer of Macy’s, Inc.
The stores to close are as follows:
- Ernst & Young Plaza (Citicorp Plaza), Los Angeles, CA (135,000 square feet; 136 employees; opened in 1986)
- The Citadel, Colorado Springs, CO (195,000 square feet; 105 employees; opened in 1984)
- Westminster Mall, Westminster, CO (156,000 square feet; 110 employees; opened in 1986)
- Palm Beach Mall, West Palm Beach, FL (190,000 square feet; 71 employees; opened in 1979)
- Mauna Lani Bay Hotel, Island of Hawaii, HI (3,000 square feet; 3 employees; opened in 1983)
- Lafayette Square, Indianapolis, IN (160,000 square feet; 84 employees; opened in 1974)
- Brookdale Center, Brooklyn Center, MN (195,000 square feet; 72 employees; opened in 1966)
- Crestwood Mall, St. Louis, MO (166,000 square feet; 176 employees; opened in 1969)
- Natrona Heights Plaza, Natrona Heights, PA (73,000 square feet; 124 employees; opened in 1956)
- Century III Furniture and Clearance, West Mifflin, PA (83,000 square feet; 3 employees; opened in 2000)
- Bellevue Center, Nashville, TN (211,000 square feet; 76 employees; opened in 1990).
Source: WSJ MarketwatchSee the Top Ten Summer 2016 Trends for Women Over 40