Macy's to close 68 stores, including Mission Valley location - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Macy's to close 68 stores, including Mission Valley location

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SAN DIEGO (CNS) - Macy's Inc. announced Wednesday it will close its Westfield Mission Valley store in San Diego as the retailer deals with the changing buying habits of shoppers.

The Cincinnati-based company said it would close 68 stores and cut about 4,000 jobs nationally as the result of a long-planned reorganization. The closures are part of the 100 closings announced in August.

The Westfield Mission Valley branch, which opened in 1961 and employs 140 people, will close by the end of the year, according to the company.

Macy's Chairman and CEO Terry J. Lundgren pointed to declining in-store traffic and a need to refocus the business on online sales as primary factors in the closures.

"As we've noted, it is essential that we maintain a healthy portfolio of the right stores in the right places," Lundgren said. "Our plan to close approximately 100 stores over the next few years is an important part of our strategy to help us right-size our physical footprint as we expand our digital reach.

"We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, as well as monetizing locations with highly valued real estate," he said. "These are never easy decisions, and we are committed to treating associates affected by these closings with respect and transparency."

In the Los Angeles area, Macy's is opening a new store this spring at Westfield Century City. The company previously operated a 136,000-square-foot store in the location which closed last January. A store at Laurel Plaza in North Hollywood closed last year.


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