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

2 years 9 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
COLUMBIA - The Columbia Police Department investigated a shots heard call on Tuesday evening. The incident happened at the... More >>
30 minutes ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 10:03:00 PM CDT October 16, 2018 in News
COLUMBIA - The Columbia Neighborhood Watch recently secured funding for next year. The Columbia City Council awarded them this money... More >>
2 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:17:00 PM CDT October 16, 2018 in News
COLUMBIA – Burrell Behavioral Health introduced a medicine-first approach to its facilities in Missouri’s central region to help clients with... More >>
3 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 6:40:00 PM CDT October 16, 2018 in News
COLUMBIA - A Columbia woman will be collecting items to transport down to Florida in order to help the recovery... More >>
3 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 6:40:00 PM CDT October 16, 2018 in Continuous News
COLUMBIA - Despite a wide gap in their campaign finances, Sen. Claire McCaskill and Josh Hawley remain locked in a... More >>
4 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 6:20:00 PM CDT October 16, 2018 in News
JEFFERSON CITY (AP) — Missouri vehicle owners will be getting new red, white and blue license plates to commemorate the... More >>
4 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 5:48:00 PM CDT October 16, 2018 in News
JEFFERSON CITY – A New York man pleaded guilty on Tuesday to two counts of attempting to produce child pornography.... More >>
6 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 4:21:00 PM CDT October 16, 2018 in News
COLUMBIA - Jerome Sally, a Hickman High School assistant principal, is suing Columbia Public Schools as a result of "systemic... More >>
7 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 3:23:00 PM CDT October 16, 2018 in News
COLUMBIA - Lt. Governor Mike Kehoe made a stop in Columbia Tuesday to campaign for Proposition D, the gas tax... More >>
9 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 1:28:00 PM CDT October 16, 2018 in News
COLUMBIA - A Royal Inn manager said Tuesday the maintenance team was beginning renovations when the building's second-floor walkway came... More >>
9 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 1:25:00 PM CDT October 16, 2018 in News
JEFFERSON CITY - A federal judge sent the lawsuit over Kenneth Suttner's death back to circuit court on Friday after... More >>
9 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 1:01:17 PM CDT October 16, 2018 in News
(CNN) -- The problem of unsolicited robocalls has gotten so bad that... More >>
11 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 11:19:50 AM CDT October 16, 2018 in News
COLUMBIA - A Kansas woman connected to a deadly car crash in Boone County has been sentenced to five years... More >>
12 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 10:27:00 AM CDT October 16, 2018 in News
COLUMBIA - A Boonville man will spend the next decade in prison after pleading guilty to a deadly 2017 shooting.... More >>
12 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 10:13:00 AM CDT October 16, 2018 in News
CALIFORNIA - A former employee in the Russellville and California school districts pleaded guilty Friday to having sexual contact with... More >>
13 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:43:00 AM CDT October 16, 2018 in News
ST. LOUIS (AP) — Water levels on the Mississippi River are dropping north of St. Louis after high waters forced... More >>
13 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:38:00 AM CDT October 16, 2018 in News
COLUMBIA - A man will spend the next nine years in prison after pleading guilty to a deadly November 2017... More >>
13 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:37:36 AM CDT October 16, 2018 in News
JEFFERSON CITY - The Missouri State Treasurer’s Office put out a warning monday about a tax scam attempt. According... More >>
14 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:12:00 AM CDT October 16, 2018 in News
Columbia, MO
Broken Clouds 49°
11pm 45°
12am 45°
1am 44°
2am 43°