Macy's Everett Mall store headed for closing

  • Macy's Everett Mall store headed for closing

Macy's Everett Mall store headed for closing

The store closings are expected to create annual savings of about $550 million, beginning this year, the company said.

The Macy's in Everett and Kelso are among those expected to close in coming weeks as the retail giant attempts to regain its footing, according to a company statement released Wednesday.

The Washington Crown Center store opened in 1999 and now has 67 employees. The 190,000-square-foot store opened in 2006 and it has 105 employees, Macy's said in its announcement. "These actions bolster the company's strategy to further invest in omni-channel capabilities, improve customer experience and create shareholder value". It owns that real estate. In addition, new Macy's and Bloomingdale's stores are planned to open in Abu Dhabi, and one Bloomingdale's store is planned to open in Kuwait, all under license agreements with Al Tayer Group.

While no leases to replace these two Macy's have been signed yet, Coradino said several retailers are in play.

Image: The Macy's in Plymouth is almost devoid of customers.

Among the stores that are closing are two Sears stores in Minnesota-in Mankato and Coon Rapids - along with Kmarts in Detroit Lakes, Minn., and Platteville and Racine, Wis.

Boulevard Mall has sought tenants that provide more entertainment than retail to combat slipping sales for brick-and-mortar stores.

This is the second area Macy's targeted for closure in the past few months.

Besides online retailers, department store operators are also getting hurt by so-called fast-fashion stores such as H&M and Forever 21. "This is a win-win for ourselves and for the consumer in the Philadelphia market".

These closing, coupled with the ones coming in the spring, will reduce full year sales by about $575 million, the company said.

Macy's will close approximately 100 stores next year as the department store continues to pare back its business in the face of changing shopping patterns and more online competition.

Both stores will be shuttered within the next several months as 68 stores across the United States go dark.