ROANOKE (WSLS 10) - Macy's, Inc. announced this week a series of cost-efficiency measures to take effect in early 2016.
"In light of our disappointing 2015 sales and earnings performance, we are making adjustments to become more efficient and productive in our operations. Moreover, we believe we can operate more effectively with an organization that is flatter and more agile so we can pursue growth and regain market share in our core Macy's and Bloomingdale's omnichannel businesses faster and with more intensity," Macy's, Inc said in a release to the media.
The company listed 40 Macy's store closings Wednesday, Jan. 6 - out of a current total of about 770 Macy's stores.
Of the 40, 36 will be closed in early spring 2016, consistent with Macy's previous announcement in September 2015.
The other four stores were closed in the final three quarters of 2015.
Final clearance sales at the following Macy's stores closing in early 2016 will begin on Monday, Jan. 11 and run for between eight to 12 weeks:
- Chesapeake Square, Chesapeake, VA - opened in 1999; 69 associates
- Virginia Center Commons, Glen Allen, VA - opened in 1993; 81 associates
- Peninsula Town Center, Hampton, VA - opened in 1977; 109 associates);
- Military Circle Mall, Norfolk, VA - opened in 1976; 95 associates);
- Regency Square main store, Richmond, VA - opened in 1990; 100 associates);
- Regency Square furniture/home/men's store, Richmond, VA - opened in 1990; 35 associates