These are the stores that will be closing:
Laguna Hills Mall, Laguna Hills, Calfornia
Westside Pavilion, Los Angeles, Calfornia
Novato (Furniture), Novato, Calfornia
Stonestown Galleria, San Francisco, Calfornia
The Oaks, Gainesville, Florida
Miami (Downtown), Miami, Florida
Magic Valley Mall, Twin Falls, Idiaho
Honey Creek Mall, Terre Haute, Indiana
Birchwood Mall, Fort Gratiot Township, Michigan
Fountain Place, Cincinnati, Ohio
Burlington Town Center, Burlington, Vermont
I’m so surprised the list isn’t longer. This is good news for some of my friends who still work there. It will give them a little more time to plan their next move. Thank you for the update.
from insite....
Cost Management to Reinvest in Growth
The company is also taking actions intended to continue improvements in organizational efficiency and to allocate resources to support its growth strategy. Major components of these restructuring activities include:
Staffing adjustments across the stores organization with reductions in some stores and increases in others;
Further streamlining in some non-store functions; and,
Closure of 11 stores in early 2018.
The company expects annual expense savings of $300 million from these actions beginning in fiscal-year 2018, which it intends to reinvest in the business. Also associated with these actions, the company anticipates one-time charges of approximately $160 million, or approximately 33 cents per share, (of which approximately $115 million is expected to be cash) to be booked in the fourth quarter of 2017 for restructuring activities, asset impairment, store closings and other costs.
Update on Store Closures
The company announced the closure of 11 Macy’s stores, 4 of which were previously disclosed. With these closures, the company will have completed 81 of the approximately 100 planned store closures announced in August 2016. The company intends to close approximately 19 additional stores as leases or operating covenants expire or sale transactions are completed. These closures are part of a multi-year effort by the company to ensure the optimal mix of brick & mortar stores and digital footprint. Including the stores announced today, Macy’s, Inc. has closed 124 stores since 2015. A list of stores scheduled to close in early 2018 is included at the end of this news release.
i am surprised not to see a few more stores on there that i know are small and under performing. where are the ny and nj stores according to that other post on this site?
Taken from http://www.businessinsider.com/macys-stores-closing-list-2018-1