Columbia Macy's store to close as part of nationwide restructuring

2 years 6 months 1 week ago Wednesday, January 06 2016 Jan 6, 2016 Wednesday, January 06, 2016 4:43:00 PM CST January 06, 2016 in News
By: Matt Johnson, KOMU 8 Content Manager
loading

COLUMBIA - Macy's announced Wednesday it would be closing 40 retail stores nationwide. Among the 36 stores set to close early this year is the Columbia store, which opened in 2003 at the Shoppes at Stadium. Four other stores closed in late 2015.

The 140,000 square foot store, which serves as a cornerstone of the shopping center employs 81 associates. As part of the nationwide restructuring, the retail giant is also set to open several stores.

"It's also gonna affect Columbia as a whole," Columbia Chamber of Commerce President Matt McCormick said. "From the jobs that are lost to the sales tax revenue that is lost, the vacancy of the location and so it's definetly a loss to our community."

In a news release Wednesday, Macy's chairman and chief executive officer Terry Lundgren, said, "In light of our disappointing 2015 sales and earnings performance, we are making adjustments to become more efficient and productive in our operations. Moreover, we believe we can operate more effectively with an organization that is flatter and more agile so we can pursue growth and regain market share in our core Macy’s and Bloomingdale’s omnichannel businesses faster and with more intensity. We will continue to invest in strategic initiatives that anticipate emerging customer needs and create shareholder value."

The closures are set to begin Jan. 11 and take place over an 8 to 12 week period. 

Macy's announced the following changes being implemented as part of the restructuring:

  • Consolidating the grouping of existing Macy’s stores into five regions and 47 local districts (down from the current structure of seven regions and 58 local districts), as well as other field support functions. This reflects a smaller portfolio of stores and new technologies and techniques for managing the store business and tailoring assortments to local customer preferences.
  • Adjusting staffing levels at each Macy’s and Bloomingdale’s store in line with current sales volume to increase productivity and improve efficiency. An average of three to four positions will be affected in each of Macy’s and Bloomingdale’s approximately 770 going-forward stores (out of an average workforce of approximately 150 associates in each store), for a total of about 3,000 affected associates nationwide. Roughly 50 percent of affected store associates are expected to be placed in other positions.
  • Implementing a voluntary separation opportunity for about 165 senior executives in Macy’s and Bloomingdale’s central stores, office and support functions who meet certain age and service requirements and chose to leave the company beginning in spring 2016. Approximately 35 percent of these executive positions will not be replaced.
  • Reducing an additional 600 positions in back-office organizations by eliminating tasks, simplifying processes and combining positions, with about 150 of these associates reassigned to other positions.

More News

Grid
List
JEFFERSON CITY - Planned Parenthood advocates demonstrated a mock health care waiting room in Governor Parson's office Thursday. The... More >>
2 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 4:16:00 PM CDT July 19, 2018 in News
JEFFERSON CITY (AP) — Missouri Attorney General Josh Hawley has charged a former Greenville city clerk with stealing more than... More >>
3 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 3:07:00 PM CDT July 19, 2018 in News
JEFFERSON CITY (AP) — State conservation officials say six black bears have died after being hit by vehicles in Missouri... More >>
3 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 3:02:00 PM CDT July 19, 2018 in News
ALBANY (AP) — Prosecutors say a northern Missouri man and woman subjected an 11-year-old girl to nearly a year of... More >>
3 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:54:00 PM CDT July 19, 2018 in News
POPLAR BLUFF (AP) — A police detective and an official with the U.S. Marshals Service are recovering after being shot... More >>
3 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:39:00 PM CDT July 19, 2018 in News
KANSAS CITY, Mo. (AP) — A southern Missouri sheriff and a subordinate have been indicted on multiple felonies following a... More >>
4 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:33:00 PM CDT July 19, 2018 in News
MANSFIELD (AP) — The Missouri State Highway Patrol says a Florida man suspected of shooting a trooper is hospitalized in... More >>
4 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:19:00 PM CDT July 19, 2018 in News
KANSAS CITY, Mo. (AP) — Three carnival workers have been arrested in the deaths of two vendors who disappeared from... More >>
4 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:16:00 PM CDT July 19, 2018 in News
COLUMBIA - A new study released Wednesday by Climate Central found conservation farming practices can help promote healthier soil and... More >>
5 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 1:09:00 PM CDT July 19, 2018 in News
COLUMBIA - The United States Air Force (USAF) Band of Mid-America is partnering with Columbia Parks and Recreation to present... More >>
8 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 10:00:00 AM CDT July 19, 2018 in News
(CNN Money) -- Facebook CEO Mark Zuckerberg tried to clarify his controversial comments about Holocaust deniers Wednesday afternoon, hours after... More >>
10 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 8:33:00 AM CDT July 19, 2018 in News
COLUMBIA – Four National Handball Champions are coming to Columbia Saturday. Wilson’s Fitness on Forum Boulevard is hosting its... More >>
10 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 7:35:00 AM CDT July 19, 2018 in News
MARIES COUNTY - At the City of Belle Fair, officers arrested a sex offender carrying a stun-gun Wednesday night. ... More >>
13 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 4:47:00 AM CDT July 19, 2018 in News
KANSAS CITY (AP) — A man who was shot to death on Sunday after shooting three Kansas City police officers... More >>
21 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:33:33 PM CDT July 18, 2018 in News
MANSFIELD (AP) — The Missouri State Highway Patrol says a trooper who was shot in southwest Missouri has been released... More >>
22 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:28:02 PM CDT July 18, 2018 in News
COLUMBIA - Run-down buildings, scuffed up sidewalks and empty lots are what people first see when they exit off I-70... More >>
22 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:23:00 PM CDT July 18, 2018 in News
ST. LOUIS (AP) — The white former interim police chief of St. Louis is alleging discrimination based on race in... More >>
22 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:20:28 PM CDT July 18, 2018 in News
COLUMBIA - Japanese beetles are swarming mid-Missouri in the tens of thousands, wreaking havoc on gardens, crops and trees. ... More >>
22 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:18:00 PM CDT July 18, 2018 in News
Columbia, MO
Broken Clouds 80°
7pm 83°
8pm 80°
9pm 78°
10pm 76°