Macy’s closes five stores

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Macy’s has announced it is closing five of its stores as part of an ongoing process to prune underperforming stores while also opening new locations in promising markets.
The company, which operates 809 Macy’s and 40 Bloomingdales stores nationwide, will close Macy’s locations in Boise, Idaho; Waterford Mich.; St. Ann, Mo.; Missoula, Mont. and Burlington, N.J.
“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,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc.
The department store chain closed a 105-employee location at The Citadel mall during January of 2009, but still operates as a major anchor at The Chapel Hills Mall.
“The decision to close stores is difficult, and often occurs when the market changes, new competing centers are opened nearby to existing older ones, or when customers change shopping habits,” Lundgren said.
Macy’s opened five stores in Arizona, California, Missouri and Texas during 2009 and announced its same-stores sales rose 1 percent in December compared December 2008.