Alton Square Macy's prepares to close
Against a backdrop of restructuring, Macy’s has confirmed that its Alton Square branch is among several dozen slated to close, allowing the company to focus on those outlets generating higher revenue.
The Alton venue has been open since 1978. With 180,000 square feet of space, it employs 54 associates.
Macy’s is striving to correct a downward trend in sales and profits with this decision.
“We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape,” Macy’s CEO Terry Lundgren said. “These are never easy decisions.”
The retailer recently announced plans to close 68 of its 730 total stores. Three have occurred to date, with the remainder scheduled to shutter their doors by mid-year, for an estimated total of 100 closings during 2017.
Outlets planned for closure are geographically diverse -- ranging from Oregon to Florida.
Additionally, 30 more Macy’s sites will conclude their run over the next few years, according to Clark.com’s Mike Timmermann.
Macy’s is not the only firm affected: USA Today reported that Sears and K-Mart outlets will be following suit, to some extent.
“American consumers are in the mood to spend, but that may not keep the stores in your neighborhood from closing their doors,” USA Today recently stated. “Despite a 13-year high in the consumer confidence index, Americans are doing more and more of their buying online … as a result, many retailers are shutting down physical locations.”