Indiana Macy’s Stores Spared in Round of Cuts
(Image courtesy of Macy's)
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCincinnati-based Macy’s Inc. (NYSE: M) says none of its 11 Indiana stores will be closed as a result of the initial round of a massive restructuring. The retailer has announced the locations of 68 stores it will shed between now and early next year. The closings, which were first announced in August, will ultimately affect about 100 stores and 10,000 employees.
This round of the company’s efficiency and expense reduction strategies are expected to result in 3,900 job cuts, with an additional 6,200 cuts to be detailed later. Macy’s says the measures will allow it to invest $250 million into digital, store-related, Bluemercury, Macy’s Backstage and China growth initiatives. Chief Executive Officer Terry Lundgren says "over the past year, we have been focused and disciplined about making strategic decisions to position us to gain market share and return to growth over time. While we are pleased with the strong performance of our highly developed online business, as well as the progress we have made on selling and visual presentation programs and expense reduction initiatives in 2016, we continue to experience declining traffic in our stores where the majority of our business is still transacted."
Macy’s roster of Indiana stores includes:
- College Mall in Bloomington
- Southlake in Merrillville
- Eastland Mall in Evansville
- Glenbrook Square in Ft. Wayne
- Castleton Square in Indianapolis
- Glendale Mall in Indianapolis
- Greenwood Park Mall
- Tippecanoe Mall in Lafayette
- Muncie Mall
- University Park Mall in Mishawaka
- Honey Creek Mall in Terre Haute
You can connect to more about the reorganization and a full list of the stores being closed by clicking here.