Declining Sales Cause Macy's Locations to Close
Macy’s announced in a press release yesterday that they will close 40 of their 770 stores in 2016.
The company listed the store locations to close, which include Macy’s in Enfield, Connecticut. The Danbury location will remain open. “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.
For the Macy’s that remain open, 2016 plans include adjusting staffing levels in line with current sales volume to increase productivity and improve efficiency. The press release states: An average of three to four positions will be affected in each of Macy’s and Bloomingdale’s approximately 770 going-forward stores (out of an average workforce of approximately 150 associates in each store), for a total of about 3,000 affected associates nationwide. Approximately 50 percent of affected store associates are expected to be placed in other positions.
Read the press release in its entirety here.