Consumer Alert: Macy's to close some Michigan stores, cut jobs - WNEM TV 5

Consumer Alert: Macy's to close some Michigan stores, cut jobs

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Macy's is reducing its payroll by at least 4,500 people, but says many will be placed in other positions. (Source: Pool/CNN) Macy's is reducing its payroll by at least 4,500 people, but says many will be placed in other positions. (Source: Pool/CNN)

Macy's says it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season. The department store chain also lowered its full-year earnings forecast.

The retailer said Wednesday that sales at established stores fell 2.1 percent in November and December compared to the same period last year. Macy's Inc. pointed to changing consumer behavior and said it reflects challenges facing much of the retail industry.

The company said it plans to close by midyear the 68 stores that are part of 100 closings announced in August. It also plans to restructure parts of its business and sell some properties. The moves are estimated to save $550 million annually.

Shares in Macy's fell more than 8 percent in after-hours trading.

Here's a look at the recently closed and soon-to-close locations in Michigan:

  • Lakeview Square Mall, Battle Creek, Michigan
  • Eastland Center, Harper Woods, Michigan
  • Lansing, Lansing, Michigan
  • Westland, Westland, Michigan

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