Posted by: brad – Jan 07, 2016
Cincinnati-based retailer Macy's Inc. said they would be shuttering many stores around the country last year and now the list has been released with 3 RVA locations set for the chopping block.
The Virginia Center Commons location as well as a combo store at Regency Square Mall will shut their doors before the end of the year.
According to the Cincinnati Business Courier, Macy's released the list of 36 stores yesterday evening. The locations accounted for about $375 million in sales which the national retailer hopes will be absorbed by other local stores and online sales.
The closures are believed to save the company $400 million, and while part time employees might be able to transfer to other locations, full time workers are going to be laid off and offered severance benefits.
"In today's rapidly evolving retail environment, it is essential that we maintain a portfolio of the right stores in the right places," Macy's CEO Terry Lundgren said in a news release. "So we will continue to add stores selectively while also being disciplined about closing stores that are unproductive or no longer robust shopping destinations because of changes in the local retail shopping landscape."
Macy’s operates 885 stores in 45 states, the District of Columbia, Dubai, Guam and Puerto Rico under the Macy’s, Bloomingdale’s, Boomingdale’s Outlet and Bluemercury brands.
Three other RVA area Macy's are set to stay open at Short Pump Town Center, Chesterfield Towne Center and Southpark Mall.
Words by BK