Eastland Mall Macy's to close in Bloomington
Due to overall strategic restructuring, Macy’s has confirmed that its Eastland Mall branch location is counted among the dozens slated to close in the near future, allowing the company to focus on outlets generating higher revenue.
The Bloomington venue has been open since 1999. With 154,000 square feet of space, it employs 55 associates.
Macy’s is striving to correct a downward trend in sales and profits with this course of action.
"We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape,” Macy’s CEO Terry Lundgren said. These are never easy decisions.''
The retailer recently announced plans to close 68 of its 730 stores. Three have occurred to date, with the remainder scheduled to shutter their doors by midyear -- for an estimated total of 100 closings during 2017.
Outlets planned for closure are geographically diverse, ranging from Oregon to Florida.
Additionally, 30 more Macy’s sites will conclude their run over the next few years, consumer advice and information source Clark.com recently reported.
Macy’s is not the only firm affected: according to USA Today, outlets such as Sears and Kmart will be following suit.
“American consumers are in the mood to spend, but that may not keep the stores in your neighborhood from closing their doors,” USA Today recently stated. “Despite a 13-year high in the consumer confidence index, Americans are doing more and more of their buying online … as a result, many retailers are shutting down physical locations.”
Organizations in this Story