Macy’s to close six stores in Virginia
Cincinnati-based retailer Macy’s Inc. has announced the closing of six Virginia stores.
Three are in the Richmond area and another three are in Hampton Roads.
The stores are among 40 stores that the company is closing nationwide as it tries to reduce expenses by $500 million.
The stores in Virginia that are scheduled to close employ nearly 500 workers.
The Virginia stores are:
• Chesapeake Square in Chesapeake (a 95,000-square-foot store that opened in 1999; it has 69 employees).
• Virginia Center Commons in Glen Allen (110,000 square feet; opened in 1993; 81 employees).
• Peninsula Town Center in Hampton (173,000 square feet; opened in 1977; 109 employees).
• Military Circle Mall in Norfolk, VA (153,000 square feet; opened in 1976; 95 employees).
• Regency Square main store in western Henrico County (100,000 square feet; opened in 1990; 100 employees).
• Regency Square furniture/home/men’s store (124,000 square feet; opened in 1990; 35 employees).
Macy’s said that clearance sales will begin at the stores next Monday (Jan. 11) and continue for eight to 12 weeks.
The company currently has 770 stores nationwide.
Macy’s said its comparable-store sales declined by 4.7 percent in November and December when compared with sales results in 2014.
The company expects to report its fourth-quarter sales and earnings on Feb. 23.