(Filed Under Fashion News). Macy’s Inc., has announced it will be closing a total of 11 underperforming stores, some of which have been in operation for nearly 40 years, in 2009.

“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 the following: Ernst & Young Plaza in Los Angeles; the Citadel in Colorado; Westminster mall in Colorado; Palm Beach mall in Florida; Mauna Lani Bay Hotel in Hawaii; Lafayette Square in Indianapolis; Brookdale Center in Minnesota; Crestwood mall in Missouri; Natrona Heights Plaza in Pennsylvania; Century III Furniture and Clearance in Pennsylvania; and Bellevue Center in Tennessee.

The closure of the eleven locations will result in the loss of approximately 950 jobs, but affected associates in good standing may be reconsidered for open positions at other Macy’s locations. In addition, regular full-time and part-time associates will be provided with severance benefits and outplacement assistance.

In 2009, Macy’s also plans on opening three new stores and one replacement store. Following the store closings announcement, the company will operate 848 stores: 808 Macy’s and 40 Bloomingdale’s.

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Published 01-12-2009 by Bruna Fernandes