Macy's to cut over 4,000 jobs after poor holiday sales

CNN ^ | January 6, 2016: | Matt Egan

[PAR35]

The iconic department store announced plans on Wednesday to lay off about 4,350 employees across the country.

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All told, Macy's hopes to save about $400 million to help offset its "disappointing" 2015 results.

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[PAR35]

40 stores to close. Oldest opened in 1930, newest opened in 2003. Three new Macy's and two new Bloomingdales to open.

From Macy's Press Release here: http://investors.macysinc.com/phoenix.zhtml?c=84477&p=irol-newsArticle&ID=2126953

Final clearance sales at the following Macy's stores closing in early 2016 will begin on Monday, Jan. 11 and run for between eight to 12 weeks (with the exception of Westfield Century City, North DeKalb Mall and Roseburg Valley Mall, where final clearance sales are already in progress):

Irvine Spectrum, Irvine, CA (140,000 square feet; opened in 2002; 112 associates);

Country Club Plaza, Sacramento, CA (165,000 square feet; opened in 1961; 111 associates);

Westfield Century City, Los Angeles, CA (136,000 square feet; opened in 1976; 108 associates). Note that this store will be closed in January 2016 and replaced with a new, larger store to open in this same shopping center in spring 2017;

Enfield Square main store, Enfield, CT (166,000 square feet; opened in 1971; 84 associates);

Enfield Square furniture/home/men's store, Enfield, CT (76,000 square feet; opened in 1971; 20 associates);

North DeKalb Mall, Decatur, GA (190,000 square feet; opened in 1965; 89 associates);

Kailua, HI (59,000 square feet; opened in 1946; 57 associates);

Palouse Mall, Moscow, ID (41,000 square feet; opened in 1979; 47 associates);

Northwoods Mall, Peoria, IL (165,000 square feet; opened in 1985; 62 associates);

Cortana Mall, Baton Rouge, LA (243,000 square feet; opened in 1976; 108 associates);

Valley Mall, Hagerstown, MD (120,000 square feet; opened in 1999; 59 associates);

Berkshire Mall, Lanesborough, MA (111,000 square feet; opened in 1994; 58 associates);

Eastfield Mall, Springfield, MA (127,000 square feet; opened in 1994; 71 associates);

The Shoppes at Stadium, Columbia, MO (140,000 square feet; opened in 2003; 81 associates);

Middlesex Mall, South Plainfield, NJ (81,000 square feet; opened in 1976; 69 associates);

McKinley Mall main store, Buffalo, NY (88,000 square feet; opened in 1989; 65 associates);

McKinley Mall home store, Buffalo, NY (31,000 Square feet; opened in 1989; 10 associates);

Arnot Mall, Horsehead, NY (120,000 square feet; opened in 1995; 79 associates);

Hudson Valley Mall, Kingston, NY (121,000 square feet; opened in 1995; 72 associates);

Eastern Hills Mall, Williamsville, NY (127,000 square feet; opened in 1971; 80 associates);

Cary Towne Center, Cary, NC (107,000 square feet; opened in 1991; 63 associates);

Chapel Hill Mall, Akron, OH (169,000 square feet; opened in 1967; 91 associates);

Midway Mall, Elyria, OH (105,000 square feet; opened in 1990; 64 associates);

Quail Springs Mall, Oklahoma City, OK (146,000 square feet; opened in 1986; 87 associates);

Pony Village Mall, North Bend, OR (41,000 square feet; opened in 1980; 54 associates);

Roseburg Valley Mall, Roseburg, OR (40,000 square feet; opened in 1980; 59 associates);

Suburban Square, Ardmore, PA (102,000 square feet; opened in 1930; 74 associates);

Century III Mall, West Mifflin, PA (173,000 square feet; opened in 1979; 101 associates);

Ridgmar Mall, Ft. Worth, TX (181,000 square feet; opened in 1998; 92 associates);

Chesapeake Square, Chesapeake, VA (95,000 square feet; opened in 1999; 69 associates);

Virginia Center Commons, Glen Allen, VA (110,000 square feet; opened in 1993; 81 associates);

Peninsula Town Center, Hampton, VA (173,000 square feet; opened in 1977; 109 associates);

Military Circle Mall, Norfolk, VA (153,000 square feet; opened in 1976; 95 associates);

Regency Square main store, Richmond, VA (100,000 square feet; opened in 1990; 100 associates);

Regency Square furniture/home/men's store, Richmond, VA (124,000 square feet; opened in 1990; 35 associates);

Downtown Spokane, Spokane, WA (374,000 square feet; opened in 1947; 94 associates).

Macy's stores closed in the final three quarters of 2015 (previously announced):

Owings Mills Mall, Owings Mills, MD (164,000 square feet; opened in 1986; 90 associates);

Bedford, NH (180,000 square feet; opened in 1966; 105 associates);

Essex Green Shopping Center, West Orange, NJ (93,000 square feet; opened in 1975; 101 associates). Note that this location was converted to a Macy's Backstage store.

Downtown Pittsburgh, PA (1,158,000 square feet; opened in 1946; 170 associates).

[Blue Turtle]

After their cowardly PC stand on immigration....I say, GOOD !! Go Trump!

[patq]

That’s what Macy’s gets for no longer carrying the Trump ties.

[dragnet2]

They’re rolling in the hallways at Trump Tower!

[kaehurowing]

Most of Macy’s stuff is cheap crud made in China, sold for an inflated price.

[Eddie01]

I cut up my Macy’s credit card after they dumped Donald Trumpf for his initial illegal immigration comments.

So did many others. Did not shop there this Christmas for the first time in 6 years.

Take that PC suckers!

[The Ghost of FReepers Past]

I used to enjoy shopping at Macy’s until they decided to promote homo issues. Now I refuse to shop there.

[Calpublican]

After the Trump flack I cancelled my account. The girl asked why
and I said It’s not because of Trump. It’s because of PC which is out of control.
She asked if they could keep sending me their mailings and I said No. I still get them.

[mtrott]

“That’s what Macy’s gets for no longer carrying the Trump ties.”

+1.

[Mr. Lucky]

So, it’s not because that Kringle fella was sending people to Gimbel’s?

[txrefugee]

I was wondering when the reports from the retailers would be coming in on this dreary Christmas season. The stores we shopped were mostly half- empty, even the after Christmas sales.

[JPG]

[Blueflag]

One of the challenges is location. A lot of stores have been open for a long time and now the neighborhoods around them have deteriorated - like North Dekalb Mall (east Atlanta).

[Ken H]

HA-ha!

[StormEye]

Over expansion.

[Ouderkirk]

It’s clear...or should be to them that going PC tends to turn off potential customers.

We didn’t shop at Macy’s at all this year because of their pro-homo stances.

Same with Abercrombie...I tell my sons “Abercrombie is for girls and homo’s.”

[GilGil]

As soon as they stopped selling Trump ties it was downhill from there!

[FreedomGuru]

This can’t be true, Barack told me the economy is GREAT.

[The Ghost of FReepers Past]

Aberrombie has long been off my list because of their soft porn ads. I hear they have changed those. Still, not my type of store. I see people with Abercrombie written across their bum on shorts that look more like underwear than shorts and think it looks stupid. Zero interest.

[CedarDave]

But they're opening two stores in Muslim Abu Dhabi:

Internationally, new Macy's and Bloomingdale's stores are planned to open in Al Maryah Central in Abu Dhabi, United Arab Emirates, in 2018 under license agreements with Al Tayer Group.