Says action part of normal-course process
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Macy's Inc. (Cincinnati) will close five of its department stores as part of its ongoing annual process to selectively prune underperforming locations while also opening new ones to fill gaps in local markets.
"We are committed to maintaining a healthy portfolio of stores, which requires us to make the difficult decision to close some stores that no longer meet our performance requirements, as well as to open new stores where we see opportunities," says Terry Lundgren, chairman, president and ceo of Macy's, Inc.
Stores identified to be closed are located in: downtown Boise, Idaho (118,000 square feet); Summit Place Mall, Waterford, Mich. (285,000 square feet); Northwest Plaza, St. Ann, Mo. (240,000 square feet); downtown Missoula, Mont. (113,000 square feet); and Burlington Center Mall, Burlington, N.J. (185,000 square feet).
With these store closings, Macy's store total comes to 849 locations, including 809 Macy's and 40 Bloomingdale's. In 2009, Macy’s opened five new stores, in Gilbert, Ariz., Fresno and Visalia, Calif., Lee's Summit, Mo., and Fairview, Texas. The company also reopened two stores in Houston that had been closed from damage by Hurricane Ike in 2008, and opened a new replacement store in Nampa, Idaho. In 2010, the department store chain expects to open new Bloomingdale's stores in Santa Monica, Calif., and Dubai (its first international location).
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