Any truth to the rumor of more store closings before the end of the year?
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I heard a store in fly over country is closing--Somewhere in St. Louis
That last post was from LAST years round of layoffs that included closing 5 stores and reducing from 4 Regions to 3. Ge-z, keep up people!
" All told, the company plans to lay off 2,350 employees from Macy's, Bloomingdale’s and Bluemercury, which are subsidiaries. In addition to store employees, the company plans to chop corporate jobs. Macy’s began notifying employees Thursday afternoon that the layoffs would occur Jan. 26, according to an internal memo obtained by the Wall Street Journal."
These closings have almost nothing to do w/ leases. Most of the stores closing in the first go around are owned buildings that can be sold for cash money, or are very expensive to bring to new standards. They’re getting $20-40m for these properties.
If Macy’s can’t agree on lease terminations with the landlord, then your store might be safe for now.
Rumor? “More” than what? It’s already announced there will be 55 stores closed at the end of this year. Could it be a little more or less? Maybe, but, it’s going to be huge.
Mission Valley Home Store (San Diego) was a last minute addition.
Outside of the ones that already know they're closing, of course.