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Macy’s closing stores in downtown Portland, Salem

KTVZ

SALEM, Ore. (AP) — Macy’s Inc. has announced plans to close its stores in downtown Portland and at the Lancaster Mall in Salem early next year.

The Statesman Journal reports (http://stjr.nl/2fpz0Hl ) that the announcement comes as the Cincinnati-based retailer posted year-over-year sales declines in a Thursday earnings report. Macy’s has also agreed to sell its downtown Portland store for $54 million, but its downtown Salem location will remain open.

The company had announced earlier this year that it would shutter 100 of its stores. It has seen a consistent drop in sales for the first three quarters of the year, with a 4.2 percent year-over-year drop.

Macy’s has been at Lancaster Mall for the past decade.

While some reports have listed the Macy’s at Bend River Promenade as a low performer in sales per square foot, there has been no announcement about whether it will be among those to close.

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Information from: Statesman Journal, http://www.statesmanjournal.com

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