Macy's cuts number of store closures from '09

Write: Kenley [2011-05-20]

Macy's to close fewer stores than in '09

Macy's Inc., the second-biggest U.S. department-store chain, plans to close five locations in an annual store pruning that is smaller than last year's.

Macy's will shutter stores in Boise, Idaho; Waterford, Mich.; St. Ann, Mo.; Missoula, Mont.; and Burlington, N.J., affecting 307 employees, the retailer said in a statement Tuesday. A year ago, the chain announced it would shed 11 locations.

The downtown Cincinnati-based company also said it will continue to open new stores. The retailer has been reducing expenses and controlling inventories after sales slowed amid rising U.S. unemployment.

After the latest closings, the company said it will operate 809 Macy's and 40 Bloomingdale's.