As part of a company-wide cost reduction program, retailer Macy’s is closing several stores. The location inside the Oxford Valley Mall is not one of them, company officials confirm.
Macy’s announced this week they are laying off 2,500 workers and closing five stores. The move come as a part of cost reduction initiative that is set to save the company $100 million.
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“The actions being announced today reinforce our focus on continuous improvement in our M.O.M. strategies (My Macy’s localization, Omnichannel integration and Magic Selling customer engagement) and will help us to maximize the impact of the exceptional talent we enjoy at every level of our organization,” CEO Terry J. Lundgren said.
The news comes after the retailer announced a successful holiday shopping season.
“We have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers,” Lundgren said.
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Macy’s will be closing the five stores in the coming weeks. Below are the locations of the stores:
- Fiesta Mall, Mesa, AZ (159,000 square feet; opened in 1979; 98 associates);
- Metcalf South Shopping Center, Overland Park, KS (216,000 square feet; opened in 1967; 88 associates);
- Jamestown Mall, Florissant, MO (200,000 square feet; opened in 1994; 88 associates);
- Medley Centre, Irondequoit, NY (129,000 square feet; opened in 1990; 96 associates);
- Fashion Place Mall, Murray, UT (26,000 square feet; opened in 1988; 42 associates).
Macy’s operates several department store locations throughout the Philadelphia region.
