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January 8, 2009

Maryland Macy's stores survive pruning shears

All 19 Macy's stories in Maryland have survived a corporate downsizing that will shut down 11 stores and eliminate 960 jobs. This is a testimony to Maryland's relatively strong economy as other regions struggle.

"These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "While new store growth has slowed in the current economy, our long-term strategy is to continue to selectively add new stores while closing those that are underperforming."

Stores to be closed are located in:

-- Ernst & Young Plaza (Citicorp Plaza), Los Angeles, CA (135,000 square feet; 136 employees; opened in 1986)

-- The Citadel, Colorado Springs, CO (195,000 square feet; 105 employees; opened in 1984)

-- Westminster Mall, Westminster, CO (156,000 square feet; 110 employees; opened in 1986)

-- Palm Beach Mall, West Palm Beach, FL (190,000 square feet; 71 employees; opened in 1979)

-- Mauna Lani Bay Hotel, Island of Hawaii, HI (3,000 square feet; 3 employees; opened in 1983)

-- Lafayette Square, Indianapolis, IN (160,000 square feet; 84 employees; opened in 1974)

-- Brookdale Center, Brooklyn Center, MN (195,000 square feet; 72 employees; opened in 1966)

-- Crestwood Mall, St. Louis, MO (166,000 square feet; 176 employees; opened in 1969)

-- Natrona Heights Plaza, Natrona Heights, PA (73,000 square feet; 124 employees; opened in 1956)

-- Century III Furniture and Clearance, West Mifflin, PA (83,000 square feet; 3 employees; opened in 2000)

-- Bellevue Center, Nashville, TN (211,000 square feet; 76 employees; opened in 1990).

Posted by Jay Hancock at 10:36 AM | | Comments (2)
        

Comments

Is there truth to the rumor that Constellation Energy/Shattuck hired a good number of folks from Enron to help run their foray into financial dealings? If that is true, does it trouble anyone? Isn't one definition of insanity to keep doing the same thing (or in this case, hiring the same folks) and expect a different result?

Shattuck is a scoundrel and snake who has cost Maryland Millions in dollars in energy costs when he and his cronies pushed for and got deregulation. it makes me sick that his wife was on that stupid reality show when he has cost working class Marylanders millions.

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Wednesdays and Fridays.
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