Macy’s will close 100 stores; no word on which ones will close

Published 12:00 am Thursday, August 11, 2016

Macy's says it will close 100 stores, but plans to announce in the future which stores will be closed. Oregon has 10 Macy's stores, including the downtown former Meier and Frank store.

Macy’s Inc. says it will close about 100 stores across the nation as part of a business strategy to boost sales from top performing stores and its digital business.

The Cincinnati company did not identify the stores to be closed. The company has 10 stores in Oregon, in downtown Portland, Lloyd Center, Clackamas Town Center, Washington Square and the Streets at Tanasbourne in Washington County. Two Oregon stores were closed in January.

Macy’s has 728 stores in 49 states.

“We operate in a fast-changing world, and our company is moving forward decisively to build further on Macy’s heritage as a preferred shopping destination for fashion, quality, value and convenience. This involves doing things differently and making tough decisions as we position ourselves to serve customers who have high expectations of their favorite stores, online sites and apps,” said Terry J. Lundgren, Macy’s Inc. chairman and chief executive officer.

Macy’s officials say the company will operate fewer stores and concentrate its financial resources and talent on better-performing locations. The move will cost the retail giant about $249 million.

The company plans a future announcement about which stores will be closed.