Macy's to shut down 11 stores

[DaemonSeid]

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.

[ThetaPrincess24]

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.

[Munchkin03]

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?!

[33girl]

Originally Posted by ThetaPrincess24

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

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?

[Munchkin03]

Originally Posted by 33girl

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.

[Jimmy Choo]

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.

[epchick]

Originally Posted by 33girl

Although I don't know if anyplace else is better - anyone who has Dillard's and Macy's, what do you think?

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.

[honeychile]

Originally Posted by alphagamzetagam

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

The two closing in this area were Kaufmann's. I think only 11 people will be unemployed due to the one store closing - bad for them, but not as horrendous as 11,000.

Originally Posted by BuckeyeTriDelta

We had Lazarus and Marshall Fields. I will never ever forgive Macy's for buying Marshall Fields.

Hear, hear! I was actually given a framed Marshall Fields shopper bag as a Christmas present! It was a special promotion of something I collect, and framed so that I can hang it on either side.

Originally Posted by crescent&pearls

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.

We were just talking about this over the weekend! The guys were clueless, but the trips to the special department stores with your mother or other significant woman are sooo important to a young girl. Or at least, they used to be.

Does anyone else remember being in the tea room, while models walked through, wearing a special outfit and holding a card so your mother could check out the outfit after lunch?

And I agree with whomever suggested that Macy's had kept the "tenor" and name of each store, but collected the profits. That first time to Bloomingdales, to Neiman-Marcus, to Lord & Taylor - they were so special!

[ComradesTrue]

Originally Posted by 33girl

anyone who has Dillard's and Macy's, what do you think?

I much prefer Dillards to Macy's.

I also preferred Dillards to Foley's (in Dallas) as well as Hecht's (in Nashville), both of which later became Macy's.

As has already been pointed out, their prices are a load of crap. They prey on the innocent folks who go there because of a bridal registry. I once had to buy some flatware, and the bride was only registered at Macy's. The flatware was $65. However, the exact same pattern was *reguarly* priced $45 at Dillards, and at the time that I was shopping was on sale for $35. I bought two sets at Dillards instead of the one set at Macy's/Hechts and just told the bride to adjust her registry accordingly. The same scam had been occurring with Foley's and Hechts prior to becoming Macy's.

The quality and selection of clothes has also been better at Dillards than any of the Macy's family stores. I also have had better service at Dillards.

*disclaimer- all Macy's stores that I have shopped in have been in malls, not the stand alone kind, and were not originally Macy's. Take that FWIW.

[PeppyGPhiB]

Macy's at the malls I shop at in the Seattle area are fine, and I shop there about the same amount as I do Nordstrom. But I never buy things at Macy's at full-price (they're always having a sale), and I buy all my shoes and most of my cosmetics at Nordstrom. I buy the occasional trinket at Barney's downtown, but mostly just window shop there...sigh. I NEVER shop at JC Penney or Kohl's (which just arrived here a few years ago).

Macy's purchased the beloved Bon Marche chain in the Pacific Northwest, but I haven't noticed any difference in the merchandise here.

[Munchkin03]

Originally Posted by Blondie93

*disclaimer- all Macy's stores that I have shopped in have been in malls, not the stand alone kind, and were not originally Macy's. Take that FWIW.

I honestly think this has something to do with it. My experience is limited to the standalone stores like 34th Street here in NYC, as well as Macy's West, which is much better than Macy's on the East Coast. Granted, I very rarely shop at any Macy's--if I go to a department store, it tends to be Saks, Bergdorfs, or Bloomingdales. I like a good Nordstrom and Neiman Marcus as well.

I think Sears and JCPenney are vile.

[ZTAngel]

Originally Posted by ThetaPrincess24

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!

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.

[Benzgirl]

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).

[jessica.lanelle]

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.