Macy’s closing Westminster, Citadel stores

Macy’s Inc. said Thursday it will close 11 underperforming stores, including two in Colorado.

The company will close its store at the Westminster Mall in Westminster, which opened in 1986 and has 110 employees, and its store at The Citadel in Colorado Springs, which opened in 1984 and has 105 employees, Macy’s officials said.

“These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores,” Macy’s President and CEO Terry Lundgren said in a statement. “While new store growth has slowed in the current economy, our long-term strategy is to continue to selectively add new stores while closing those that are underperforming.”

The company also plans to close stores in California, Florida, Hawaii, Indiana, Minnesota, Missouri, Pennsylvania and Tennessee. Final clearance sales will begin within the next week, officials said..

Cincinnati-based Macy’s (NYSE: M), formerly known as Federated Department Stores Inc., operates 840 department stores in 45 states.

Separately on Thursday, Macy’s said its same-store sales fell 4 percent in December compared with the previous year.


Source: bizjournals.com