On Jan. 4, Macy’s Inc. announced it would shut down 68 stores throughout the country in 2017. However, Westfield Century City will open a newly expanded store at the mall this spring.
Prior to the store closing in January 2016 as part of mall’s massive $800-million renovation project, it covered 136,000 square feet. The newly revamped Macy’s is slated to span approximately 138,000 square feet and cover two stories.
That’s great news for Century City, but not good news for the 3,900 Macy’s employees across the country that will lose their jobs. An additional 6,200 jobs will be cut as the company works to streamline its management team, according to a press release.
Macy’s Chairman and CEO Terry J. Lundgren cited 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. “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.
Macy’s at Laurel Plaza in North Hollywood already closed in August 2016. Other store closures in California included the Simi Valley Town Center in Simi Valley, Mission Valley Apparel in San Diego, and Paseo Nuevo in Santa Barbara.
