Macy's closing 68 'unproductive' stores, including Simi Valley location

Macy's closing 68 'unproductive' stores, including Simi Valley location

Macy's closing 68 'unproductive' stores, including Simi Valley location

Among the list of 63 stores slated to close in the spring of this year are two Utah locations, one at Cottonwood Mall in Salt Lake City and one at Layton Hills Mall in Layton.

Over the all-important festive period between November and December sales are believed to have slipped 2.1% versus a year earlier, prompting a hard reappraisal of "unproductive" parts of the business suffering from declining traffic.

The Macy's department store chain announced Wednesday that it would shutter dozens of stores, including two in Washington state.

The company said it would reduce layers of management and make changes to the way stores are operated in order to lose staff. Some may be offered positions at nearby stores but Macy's estimates that 3,900 employees will be affected by the closures.

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Department stores in the U.S. have been struggling with tough competition from online retailers and discount stores.

"Given the overall trends challenging us and the broader retail industry, and the time needed to execute new strategies, we expect our 2017 change in comparable sales to be relatively consistent with our November/December sales trend", he added. Twenty other Macy's stores in MA will remain open.

The Macy's at the Preakness Shopping Center in Wayne is among 68 stores the nation's largest department store company is closing this year as it streamlines its operations and eliminates 6,200 jobs in the U.S.

Four Michigan Macy's stores are among the 68 the struggling department chain intends to close later this year. The most recent closings will reportedly save the company $550 million.

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Neil Saunders, CEO of retail analyst Conlumino, says the closures are a "necessary evil required to get the company back on track".

According to the list of stores that will be closed, no IN locations will be lost.

CityPlace, which is owned by Related Cos.in NY, said management has been in talks with Macy's about their plans to close their store. This will enable the expansion of its digital business that requires an investment of $250 million.

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