Macy's is closing its Texas City store
Macy's Inc.? is closing its Texas City location as part of the company?s process to prune underperforming stores.
The 151,000-square-foot store, located in the Mall of the Mainland, is expected to close in early spring.
A final clearance sale will begin on Jan. 8 and run for approximately 10 weeks.
Associates displaced by store closings may be offered positions in nearby stores where possible, according to the Cincinnati-based retailer. Regular full-time and part-time associates who are laid off due to the store closings will be provided severance benefits.
In conjunction with these store closings, an estimated $25 million to $30 million of costs will be booked in the fourth quarter of 2011. Macy?s is also closing underperforming stores in Topeka, Kan., Laurel, Md., Parma, Ohio and Antioch, Tenn.
?We continue to be committed to maintaining a healthy portfolio of stores that allows us to focus on growth from our best and most productive locations,? Macy?s CEO Terry J. Lundgren said in a statement. ?This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity.?
Macy's Inc.? is closing its Texas City location as part of the company?s process to prune underperforming stores.
The 151,000-square-foot store, located in the Mall of the Mainland, is expected to close in early spring.
A final clearance sale will begin on Jan. 8 and run for approximately 10 weeks.
Associates displaced by store closings may be offered positions in nearby stores where possible, according to the Cincinnati-based retailer. Regular full-time and part-time associates who are laid off due to the store closings will be provided severance benefits.
In conjunction with these store closings, an estimated $25 million to $30 million of costs will be booked in the fourth quarter of 2011. Macy?s is also closing underperforming stores in Topeka, Kan., Laurel, Md., Parma, Ohio and Antioch, Tenn.
?We continue to be committed to maintaining a healthy portfolio of stores that allows us to focus on growth from our best and most productive locations,? Macy?s CEO Terry J. Lundgren said in a statement. ?This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity.?
Source: http://feedproxy.google.com/~r/bizj_houston/~3/VO0VOaos4R0/texas-city-macys-shutters.html
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