Thursday, January 8, 2009

Macy's To Close 11 Stores

Amid dismal same-store sales results for December 2008, Macy's Inc. announced it will close 11 underperforming stores in nine states. These closings will affect approximately 960 employees.

"These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "While new store growth has slowed in the current economy, our long-term strategy is to continue to selectively add new stores while closing those that are underperforming."

Stores to be closed are located in:

  • Ernst & Young Plaza (Citicorp Plaza), Los Angeles, CA
  • The Citadel, Colorado Springs, CO
  • Westminster Mall, Westminster, CO
  • Palm Beach Mall, West Palm Beach, FL
  • Mauna Lani Bay Hotel, Island of Hawaii, HI
  • Lafayette Square, Indianapolis, IN
  • Brookdale Center, Brooklyn Center, MN
  • Crestwood Mall, St. Louis, MO
  • Natrona Heights Plaza, Natrona Heights, PA
  • Century III Furniture and Clearance, West Mifflin, PA
  • Bellevue Center, Nashville, TN

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