The Georgia Square Mall Macy’s is one of 68 that will close this year as the company—like most brick-and-mortar department stores—continues to face declining revenue.
The Athens location, one of 880 nationwide, will close Mar. 1, potentially putting 69 employees out of work. Overall, the department-store chain is shedding more than 6,000 jobs.
According to a press release:
Associates displaced by store closings may be offered positions in nearby stores where possible. Eligible full-time and part-time associates who are affected by the store closings will be offered severance benefits. The company estimates that 3,900 associates will be displaced as a result of these closures.
“As we’ve noted, it is essential that we maintain a healthy portfolio of the right stores in the right places. Our plan to close approximately 100 stores over the next few years is an important part of our strategy to help us right-size our physical footprint as we expand our digital reach. We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, as well as monetizing locations with highly valued real estate,” [CEO Terry J.] Lundgren said. “These are never easy decisions, and we are committed to treating associates affected by these closings with respect and transparency.”
Macy’s also announced today that sales fell by more than 2 percent during the holiday shopping season of November and December, compared to last year.
Forty-two Sears and 100 K-Marts will also close early this year, Sears announced today, but Athens’ lone K-Mart closed in 2012, and the Georgia Square Mall Sears was not among those slated to be shuttered.