While the decision to close stores is difficult, it is necessary that we do so selectively in locations with declining sales and where we have been unable to identify sufficient growth opportunities.
-Terry J. Lundgren, Macy’s Chief Executive
Macy’s was never one of my favorite stores and it would make no difference to me if they closed them all. Wards closed and I don’t miss it. K-Mart is no longer in my market, and I don’t miss it. I have never been a big shopper at Dillards, Bloomingdale’s, Sak’s Fifth Avenue, or even Banana Republic. Much like Anne Hathaway’s clueless secretary in The Devil Wears Prada-fashion doesn’t mean all that much to me.
Macy’s store closings are just one more sign of the times, but not a very big one. Macy’s said Thursday it will close 11 underperforming stores in nine states — affecting 960 employees. Macy’s operates more than 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s and Bloomingdale’s-so Macy’s closing 11 stores is not really that big a deal, is it?
I mean, having a job at Macy’s is not exactly highly paid, highly skilled labor is it? It’s like that old Paula Poundstone routine-I used to work at International House of Pancakes. You set your goals. You go for them. It’s a dream. I made it happen.
“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
Stores to be closed are located in:
Ernst & Young Plaza (Citicorp Plaza), Los Angeles, CA (135,000 square feet; 136 employees; opened in 1986)
The Citadel, Colorado Springs, CO (195,000 square feet; 105 employees; opened in 1984)
Westminster Mall, Westminster, CO (156,000 square feet; 110 employees; opened in 1986)
Palm Beach Mall, West Palm Beach, FL (190,000 square feet; 71 employees; opened in 1979)
Mauna Lani Bay Hotel, Island of Hawaii, HI (3,000 square feet; 3 employees; opened in 1983)
Lafayette Square, Indianapolis, IN (160,000 square feet; 84 employees; opened in 1974)
Brookdale Center, Brooklyn Center, MN (195,000 square feet; 72 employees; opened in 1966)
Crestwood Mall, St. Louis, MO (166,000 square feet; 176 employees; opened in 1969)
Natrona Heights Plaza, Natrona Heights, PA (73,000 square feet; 124 employees; opened in 1956)
Century III Furniture and Clearance, West Mifflin, PA (83,000 square feet; 3 employees; opened in 2000)
Bellevue Center, Nashville, TN (211,000 square feet; 76 employees; opened in 1990).
Of course, this business as usual Macy’s Store Closings follows the news in late December of 9 other Macy’s store closings. Still, 20 out of 850 is not that big a deal either, is it? I think when Macy’s store closings hit triple digits it will be something to worry about.
Rolling Acres Mall, Akron, with 84 employees
Canton Centre, Canton, with 76 employees
Randall Park Mall, North Randall, Ohio, with 91 employees
Washington Square, Indianapolis, with 90 employees
Prien Lake Mall, Lake Charles, La., with 75 employees
Crossroads Mall, Oklahoma City, with 84 employees
Valley View Center, Dallas, with 132 employees
Sharpstown Center, Houston, 172 employees
Family Center at Riverdale, Riverdale, Utah, with 95 employees