Macy's To Shutter 9 Stores, Cut 900 Jobs
Department-store operator Macy's Inc. on Friday said it will shutter nine underperforming stores, which collectively employ nearly 900 staffers, the latest indication of a weak retail environment.
The department stores are in Indiana, Louisiana, Ohio, Oklahoma, Texas and Utah and were all acquired when Macy's bought department-store operator May Co. in 2005.
Macy's integration of May Co. department stores has been bumpy. The company has faced disappointing sales and resistance from shoppers in some markets where the Macy's name replaced local favorites it absorbed as part of the May acquisition.