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Macy’s Plans Store Closures and Openings

(Filed Under retail Lingerie News). Macy’s, Inc. announced a series of store closures and openings for the company’s Macy’s and Bloomingdale’s retail chains in 2012.

Macy’s chairman, president and C.E.O. Terry Lundgren said the company had to "make some difficult decisions to close stores that no longer meet our performance requirements, as well as open stores where we see opportunity."

Macy’s will close stores in Topeka, Kan.; Laurel, Md.; Parma, Ohio; Antioch, Tenn.; and Texas City, Texas. Bloomingdale’s will close stores in Atlanta; Oak Brook, Ill.; North Bethesda, Md.; and Bloomington, Minn. The stores range between 93,000 and 288,000 square feet and employ between 60 and 158 associates per location. The stores will be closed by early spring 2012.

Macy’s will open stores in Victorville, Calif.; Gurnee, Ill.; The Bronx, N.Y.; Bay Shore, N.Y.; Greendale, Wis.; and Salt Lake City. Bloomingdale’s will open stores in Glendale, Calif. and Palo Alto, Calif. Stores will range in size from 103,000 to 200,000 square feet and employ between 115 and 225 associates per store. Bloomingdale’s will additionally open five outlet stores in 2012 in Livermore, Calif.; Merrimack, N.H.; Westbury, N.Y.; Grand Prairie, Texas and Dallas. Each store will be approximately 25,000 feet and employ 35 associates.

In conjunction with the planned closing, Macy’s estimates $25 million to $30 million of costs to be booked in the fourth quarter of 2011. Associates displaced by store closings may be offered positions in new or nearby stores if available. When the planned closings and openings are complete, the company will operate 804 stores in 45 states as well as the District of Columbia, Puerto Rico and Guam.

more retail Lingerie News >>

Published 01-12-2012 by Katherine Rautenberg

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