Macy’s To Close Three Illinois Stores, Is Rockford Next?
There have been reports for months circulating Macy's was in financial trouble.
Now on the heels of what appears to have been a down holiday season, a final list of closures has been released.
According to WGN, "The retailer said Wednesday that sales at established stores fell 2.1 percent in November and December compared to the same period last year."
While two percent may not appear to be that big of a deal at first, we're talking millions of dollars lost.
To combat the losses, closures have been finalized and three of which are in the Land of Lincoln.
- Alton Square in Alton, Illinois
- Stratford Square in Bloomingdale, Illinois
- Eastland in Bloomington, Illinois
Overall, the closures of nearly 70 Macy's locations will eliminate more than 10,000 jobs. The closures along with a restructuring and property sell off is estimated to save Macy's $550 million annually says WGN.
One has to wonder how much longer the retail giant will stay in business. Thankfully, the Macy's location at the CherryVale Mall remains open.