Macy's to shut down 11 stores
 

NEW YORK (AP) -- Department-store operator Macy's Inc. said Thursday it will close 11 underperforming stores in nine states -- affecting 960 employees -- and lowered its forecast for the fourth quarter after one of the weakest holiday seasons in years

Stores slated to close include locations in Los Angeles, West Palm Beach, Fla., Nashville, Tenn., and St. Louis, among others. Cincinnati-based Macy's Inc. says the closures will cost about $65 million, most of which will be booked in the 2008 fourth quarter.

Clearance sales at the stores begin next week.

"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 Macy's Chief Executive Terry J. Lundgren in a statement.

Employees at the stores that are closing may be considered for open positions at other Macy's stores, the company said.

Department-store operators have been among the harder-hit in the retail sector as consumers cut back amid the recession, hunting for bargains and trading down to discounters.

Macy's reported Thursday that its December sales at stores open at least a year, or same-store sales, fell 4 percent -- still not as bad as the 5.3 percent drop analysts surveyed by Thomson Reuters were expecting.


http://finance.yahoo.com/news/Macys-...-14002867.html

I read in my local paper that only 1 Macy's store will be shut down in Hawaii, the store located at the Mauna Lani Bay Hotel. Since it was more for the tourists anyway, I doubt any of the locals will be affected. They can just drive another 20 minutes to the large shopping mall down the highway.

Maybe they should take it as a sign not to have such a mark up on merchandise.

For example, My wedding china pattern at Macy's cost $120. Bed,Bath & Beyond, Lenox.com, & Dillard's sold/sell the same set for 89.99. Now & then Macy's will sell that set for 89.99 on "sale." To me that is not being on sale when I can buy it at that price all the time at atleast three other places, including the company that makes it!

While I am sorry some people will be out of a job at a bad time in our economy, I'm not suprised they are closing some of their stores.

Some Macy's stores are half-empty anyway; I'm sure this is just their way of correcting the market. A lot of places expanded like mad in the past 5 years, whether or not the market really demanded the new locations. I mean, my podunk hometown DOES NOT NEED A HARD ROCK CAFE. Why?!

Maybe they should take it as a sign not to suck.

Not only are their prices assy as you described, their merchandise selection has gotten steadily worse. Although I don't know if anyplace else is better - anyone who has Dillard's and Macy's, what do you think?

Macy's is far superior to Dullard's. Belk sucks ass too.

The problem with Macy's was when it converted all Hecht's stores into Macy's. Those stores were still selling Hecht's crap with a Macy's logo on the outside. Most Macy's stores aren't TRUE Macy's stores.

Hate Macy's. Their merchandise is boring and the racks are too close together. It's cluttered and un-shopable. The only time I go into a store is when I have a gift card. I typically go to the cosmetic counter rather than waste my time looking for something that I will like (I rarely like any of their clothes).

They did the same with Kauffman's. I was going to say I'm not so surprised that they're closing a few stores just because they "added" so many with their acquisitions in the past few years. Many of the stores they acquired were floundering before Macy's bought them, anyway.

I wonder if these 11 that are closing used to be other stores that Macy's bought.

Same thing when Macy's bought Rich's - a long time Atlanta tradition.

I've noticed that the merchandise is different quality depending on the locale.:rolleyes:

The Macy's (both of them) here in Tulsa suck. They do not even compare with Dillard's here. They do not have a Coach section, Ralph Lauren section...actually they hardly carry any name brand stuff at all. The only time I go there is when there is a Clinique bonus, and then that usually sucks, too. Oh yeah, and it is always hot in both of them. To me, Macy's in Tulsa is what hell would be like.

I've noticed that also with the china I had on my wedding registry. Macy's would put it on sale occasionally but the sale price was the same as the Bed, Bath & Beyond regular price. Plus you can use those great 20% off coupons at Bed, Bath & Beyond.

Ditto for the Broadway stores converted to Macy's. If I want to pick through shop worn merchandise in an ugly, outdated building with linoleum floors and yucky dressing rooms, where you get absolutely no help from anyone working in the store, I could just go to Marshalls or Ross.

I miss beautiful department stores with elegant displays...where your mother took you once a year to school shop...and then for lunch in the tea room.

Macy's bought out Liberty House, a long time Hawaii tradition. A lot of us were sad to see it go, especially because it was around for over a century.

Since their takeover, I haven't really seen a big difference, except for the logo on the side of the store and the shopping bags, of course. Macy's West definitely made it a priority to keep a lot of local items around.

We don't have the big name department stores like Dillard's or even Kohl's. Just Macy's. Lucky for us, they're awesome.

Dillard's is by far better...at least here. It has a better selection and a wider variety of brands. The Macy's here sells all the "urban" clothes. A lot of Baby Phat, Applebottoms, and clothing of that variety.

For the price, I much rather shop at Dillard's and get some nice looking clothes, then get the belly-showin, boob-poppin-out, bend-down-and-show-your-crack type clothes our Macy's sell.