Macy’s Releases List of 68 Store Closings

Macy’s, Inc., the nation’s leading department store chain, reported holiday sales were down 2.7% in November and December. The company also announced a series of actions to streamline its store portfolio, intensify cost efficiency efforts and execute its real estate strategy. These actions include:

  • The closure of 68 stores and the reorganization of the field structure that supports the remaining stores, reinforcing the strategy of fewer stores with better customer experience. These store closures are part of the approximately 100 closings announced in August 2016.
  • The significant restructuring of the Macy’s, Inc. operations to focus resources on strategic priorities, improve organizational agility and reduce expense.
  • The sale of properties consistent with the previously announced real estate strategy.

The company expects to save $550 million from the cuts this year, enabling it to invest an additional $250 million in growing the digital business, store-related growth strategies, Bluemercury, Macy’s Backstage and China.

The store closings are expected to affect 3,900 employees and total restructuring could eliminate 10,000 jobs overall.

“Over the past year, we have been focused and disciplined about making strategic decisions to position us to gain market share and return to growth over time. While we are pleased with the strong performance of our highly developed online business, as well as the progress we have made on selling and visual presentation programs and expense reduction initiatives in 2016, we continue to experience declining traffic in our stores where the majority of our business is still transacted. Given the overall trends challenging us and the broader retail industry, and the time needed to execute new strategies, we expect our 2017 change in comparable sales to be relatively consistent with our November/December sales trend,” said Terry J. Lundgren, chairman and chief executive officer of Macy’s, Inc. “Our omnichannel strategies continue to evolve based on the changes in our customers’ shopping behaviors, including a focus on buy online, pickup in store and mobile-enabled shopping. In addition, we have invested in and enlarged our customer data and analytics team, which will help drive our new marketing strategies for 2017. Whether it is improving corporate agility, enhancing our customer engagement strategies, or continuing to capitalize on the potential value of our real estate assets, we remain focused on the actions that will ultimately improve our financial results and provide the greatest return for our shareholders.”

The company also released list of new store closings this year including one in Queens and two stores upstate: one in Johnson City near Binghamton and the other in Rochester.

Already Announced Year-End 2016 Closings

Final clearance sales at the following Macy’s stores closing in early 2017 will begin on Monday, January 9, and run for approximately eight to 12 weeks (with the exception of Lancaster Mall*, where final clearance sales are already in progress):

  • Greenwood, Bowling Green, KY (124,000 square feet; opened in 1980; 63 associates);
  • Carolina Place, Pineville, NC (151,000 square feet; opened in 1993; 69 associates);
  • Douglaston, Douglaston, NY (158,000 square feet; opened in 1981; 144 associates);
  • Downtown Portland, Portland, OR (246,000 square feet; opened in 2007; 85 associates);
  • *Lancaster Mall, Salem, OR (67,000 square feet; opened in 1980; 53 associates);
  • Oakwood Mall, Eau Claire, WI (104,000 square feet; opened in 1991; 55 associates)

Year-End Closings

  • Mission Valley Apparel, San Diego, CA (385,000 square feet; opened in 1961; 140 associates);
  • Paseo Nuevo, Santa Barbara, CA (141,000 square feet; opened in 1990; 77 associates);
  • Lakeland Square, Lakeland, FL (101,000 square feet; opened in 1995; 68 associates);
  • Oviedo Marketplace, Oviedo, FL (195,000 square feet; opened in 2000; 83 associates);
  • Sarasota Square, Sarasota, FL (143,000 square feet; opened in 1977; 86 associates);
  • University Square, Tampa, FL (140,000 square feet; opened in 1974; 73 associates);
  • CityPlace, West Palm Beach, FL (108,000 square feet; opened in 2000; 72 associates);
  • Georgia Square, Athens, GA (121,000 square feet; opened in 1981; 69 associates);
  • Nampa Gateway Center, Nampa, ID (104,000, square feet; opened in 2009; 57 associates);
  • Alton Square, Alton, IL (180,000 square feet; opened in 1978; 54 associates);
  • Stratford Square, Bloomingdale, IL (149,000 square feet; opened in 1981; 87 associates);
  • Eastland, Bloomington, IL (154,000 square feet; opened in 1999; 55 associates);
  • Jefferson, Louisville, KY (157,000 square feet; opened in 1979; 52 associates);
  • Esplanade, Kenner, LA (188,000 square feet; opened in 2008; 101 associates);
  • Bangor, Bangor, ME (143,000 square feet; opened in 1998; 65 associates);
  • Westgate, Brockton, MA (144,000 square feet; opened in 2003; 79 associates);
  • Silver City Galleria, Taunton, MA (152,000 square feet; opened in 1992; 82 associates);
  • Lakeview Square Mall, Battle Creek, MI (102,000 square feet: opened 1983; 51 associates);
  • Eastland Center, Harper Woods, MI (433,000 square feet; opened in 1957; 121 associates);
  • Lansing, Lansing, MI (103,000 square feet; opened in 1979; 57 associates);
  • Westland, Westland, MI (334,000 square feet; opened in 1965; 106 associates);
  • Minneapolis Downtown, Minneapolis, MN (1,276,000 square feet; opened in 1902; 280 associates);
  • Northgate, Durham, NC (187,000 square feet; opened in 1994; 72 associates);
  • Columbia, Grand Forks, ND (99,000 square feet; opened in 1978; 53 associates);
  • Moorestown, Moorestown, NJ (200,000 square feet; opened in 1999; 107 associates);
  • Voorhees Town Center, Voorhees, NJ (224,000 square feet; opened in 1970; 77 associates);
  • Preakness, Wayne, NJ (81,000 square feet; opened in 1963; 72 associates);
  • Cottonwood, Albuquerque, NM (173,000 square feet; opened in 1996; 56 associates);
  • Las Vegas Boulevard, Las Vegas, NV (178,000 square feet; opened in 1966; 84 associates);
  • Great Northern, Clay, NY (88,000 square feet; opened in 1989; 55 associates);
  • Oakdale Mall, Johnson City, NY (140,000 square feet; opened in 2000; 58 associates);
  • The Marketplace, Rochester, NY (149,000 square feet; opened in 1982; 77 associates);
  • Eastland, Columbus, OH (121,000 square feet; opened in 2006; 73 associates);
  • Sandusky, Sandusky, OH (133,000 square feet; opened in 1979; 61 associates);
  • Fort Steuben, Steubenville, OH (132,000 square feet; opened in 1974; 59 associates);
  • Promenade, Tulsa, OK (180,000 square feet; opened in 1996; 58 associates);
  • Neshaminy, Bensalem, PA (211,000 square feet; opened in 1968; 89 associates);
  • Shenango Valley, Hermitage, PA (106,000 square feet; opened in 1976; 69 associates);
  • Beaver Valley, Monaca, PA (203,000 square feet; opened in 1987; 78 associates);
  • Lycoming, Muncy, PA (120,000 square feet; opened in 1995; 61 associates);
  • Plymouth Meeting, Plymouth Meeting, PA (214,000 square feet; opened in 1966; 74 associates);
  • Washington Crown Center, Washington, PA (148,000 square feet; opened in 1999; 67 associates);
  • Parkdale, Beaumont, TX (171,000 square feet; opened in 2002; 67 associates);
  • Southwest Center, Dallas, TX (148,000 square feet; opened in 1975; 68 associates);
  • Sunland Park, El Paso, TX (105,000 square feet; opened in 2004; 71 associates);
  • Greenspoint, Houston, TX (314,000 square feet; opened in 1976; 70 associates);
  • West Oaks Mall, Houston, TX (244,000 square feet; opened in 1982; 135 associates);
  • Pasadena Town Square, Pasadena, TX (209,000 square feet; opened in 1962; 78 associates);
  • Collin Creek, Plano, TX (199,000 square feet; opened in 1980; 103 associates);
  • Broadway Square, Tyler, TX (100,000 square feet; opened in 1981; 65 associates);
  • Layton Hills, Layton, UT (162,000 square feet; opened in 1980; 72 associates);
  • Cottonwood, Salt Lake City, UT (200,000 square feet; opened in 1962; 88 associates);
  • Landmark, Alexandria, VA (201,000 square feet; opened in 1965; 119 associates);
  • River Ridge, Lynchburg, VA (144,000 square feet; opened in 1980; 60 associates);
  • Everett, Everett, WA (133,000 square feet; opened in 1977; 109 associates);
  • Three Rivers, Kelso, WA (51,000 square feet; opened in 1987; 57 associates);
  • Valley View, La Crosse, WI (101,000 square feet; opened in 1980; 57 associates)

Other 2017 Closings

  • Simi Valley Town Center (men’s/home/kids), Simi Valley, CA (190,000 square feet; opened in 2006; 105 associates);
  • Mall at Tuttle Crossing (furniture/home/kids/men’s), Dublin, OH (227,000 square feet; opened in 2003; 52 associates)