Macy's shutters five underperforming locations

CINCINNATI Macy’s announced that it will close five underperforming stores.

Stores to be closed are located in:

• Downtown Boise, ID (118,000 square feet; 61 employees)
• Summit Place Mall, Waterford, MI (285,000 square feet; 70 employees)
• Northwest Plaza, St. Ann, MO (240,000 square feet; 71 employees)
• Downtown Missoula, MT (113,000 square feet; 55 employees)
• Burlington Center Mall, Burlington, NJ (185,000 square feet; 50 employees).

“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 Lundgren, chairman, president and chief executive officer of Macy’s Inc.

Final clearance sales at these stores will begin on Jan. 10 and will run for approximately 60 days.

Associates displaced by store closings may be offered positions in nearby stores where possible, the company reported. Regular full-time and part-time associates who are laid off due to a store closing will be provided severance benefits and outplacement assistance.