OKLAHOMA CITY – Macy’s has released a long list of store locations that are set to close in 2016.
The department store announced that it will be closing 40 of its 770 stores as a part of a series of cost-efficiency and process improvement measures that will be implemented this year.
“In light of our disappointing 2015 sales and earnings performance, we are making adjustments to become more efficient and productive in our operations,” said Terry J. Lundgren, Chairman and Chief Executive Officer of Macy’s, Inc.
Here’s how Macy’s plans to bring sales back up:
- Consolidating stores
- Adjusting staffing levels
- Offering senior executives a voluntary separation opportunity
- Reducing positions in back-office organizations
- Consolidating the four existing Macy’s, Inc. credit and customer services center facilities into three
The Quail Springs Mall store opened in 1986 and will close in the spring of 2016.
“Our company is committed to operating great Macy’s and Bloomingdale’s stores in the best locations – both to serve shoppers who walk through the door and to fulfill orders that are shipped directly to customers around the country,” Lundgren said. “In today’s rapidly evolving retail environment, it is essential that we maintain a portfolio of the right stores in the right places. So, we will continue to add stores selectively while also being disciplined about closing stores that are unproductive or no longer robust shopping destinations because of changes in the local retail shopping landscape.”