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Macy's to close six stores, including one in Pasadena

January 03, 2013|By Shan Li
  • Macy's will close six stores, including one in Pasadena, and open a Bloomingdale's in the Glendale Galleria.
Macy's will close six stores, including one in Pasadena, and open… (Andrew Burton / Getty Images )

Retail giant Macy's said Thursday it will close a store at Paseo Colorado in Pasadena as part of plans to shutter six underperforming stores nationwide. The company will also open a Bloomingdale's store in the Glendale Galleria.

Macy's will shutter the 158,000-square-foot Pasadena location in early spring. Other locations targeted include stores in Las Vegas, Houston and Honolulu.

Final clearance sales for the Pasadena location will start Jan. 7. Sales will run for seven  to 11 weeks.

Karen Hoguet, Macy's chief financial offer, said in a statement that the retailer closes "underperforming stores that no longer meet our performance requirements or where leases are not being renewed."

Hoguet said Macy's also opens new stores in important markets. That would include nine new and replacement Macy's and Bloomingdale's locations planned, including the Bloomingdale's in the Glendale Galleria.

That store, currently under construction, is slated to open this fall.

Macy's just reported a healthy 4.1% jump in same-store sales in December, the second half of the crucial holiday season. But the retailer lowered its fourth-quarter guidance after the holiday season fell below its expectations.

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Follow Shan Li on Twitter @ShanLi

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