Macy's Closing 68 Stores, Including 4 Locally

Macy's unveiled plans Wednesday to cut as many as 10,100 jobs as the iconic United States retailer closes stores and downsizes following another disappointing holiday sales season.

Separately on Wednesday, Macy's said store sales declined in the holiday period of November and December, while online sales to two of its primary online sites, Macys.com and Bloomingdales.com, grew by double digits year over year.

Macy's announced they will close 63 stores this spring, Women's Wear Daily reports.

The Bloomingdale store originally operated as Marshall Field's and opened in Stratford Square in 1981. That store, also a former Dayton's, had opened in 1963.

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In Wisconsin, closures include Eau Claire's Oakwood Mall store and the Valley View branch in La Crosse. Sears announced in April it was closing its store there, taking with it 62 jobs. Macy's has locations in Metairie (Lakeside Mall), Baton Rouge (Mall of Louisiana) and Lafayette. Big retail stores in downtown Minneapolis have a 15 percent vacancy rate, which observers say is three times the regional average. Macy's Inc. pointed to changing consumer behavior and said it reflects challenges facing much of the retail industry.

The company plans to sell some properties, close others, and redirect some focus to its digital business.

Macy's also announced Wednesday that it will cut about 6,200 jobs through "eliminating layers of management" at its central organization, among other cost-saving efforts. The company expects its sales this year to be hurt by $575 million as a result of the closures. Associates displaced by store closings may be offered positions in nearby stores where possible, and eligible full- and part-time associates affected by the store closings will be offered severance benefits. It owns that real estate.

"Part of this is a continuation of what we saw previous year - Macy's going to where the customer is: online", reported WWJ Business Editor Murray Feldman.

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