Business & Tech

Macy's Inc. Announces 5 Store Closures, Consolidation

Five stores will be closed early in 2014 and 2,500 jobs will be lost.

Macy's Inc. has announced it will close five stores and layoff 2,500 employees in a company-wide effort to boost profitability. 

No New Hampshire stores will be affected by the corporate changes. 

Macy's says the changes are projected to generate savings of approximately $100 million per year, beginning this year. 

According to a press release posted on the company's website, organizational changes will include closing five stores and reducing sales staff, while increasing personnel in other areas, including online operations, direct-to-consumer fulfillment and new stores. 

In total, the Macy’s, Inc. workforce is expected to remain at a level of approximately 175,000 associates, the company said.

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“Our stores remain a very important component of our omnichannel strategy for both the Macy’s and Bloomingdale’s brands. We continue to maintain a very strong nationwide network of stores through an ongoing process of selectively adding new locations while also trimming those that no longer meet our performance requirements or where our leases were not renewed,” said Terry J. Lundgren, Macy’s, Inc. chairman, president and chief executive officer.

The five Macy’s stores listed below will close in early spring 2014. Final clearance sales will begin on Monday, Jan. 13 and run for between 10 and 11 weeks (except for Fashion Place Mall, which will close on Sunday, Jan. 12 with no final clearance sale).

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  • Fiesta Mall, Mesa, AZ (159,000 square feet; opened in 1979; 98 associates);
  • Metcalf South Shopping Center, Overland Park, KS (216,000 square feet; opened in 1967; 88 associates);
  • Jamestown Mall, Florissant, MO (200,000 square feet; opened in 1994; 88 associates);
  • Medley Centre, Irondequoit, NY (129,000 square feet; opened in 1990; 96 associates);
  • Fashion Place Mall, Murray, UT (26,000 square feet; opened in 1988; 42 associates).
The company also issued a statement Jan. 8 on its holiday sales trends, which rose 4.3 percent over November/December. 


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