Macy’s says it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season. The department store chain also lowered its full-year earnings forecast.
Two Macy’s locations in Massachusetts will close: The store at the Westgate Mall in Brockton, and the one at the Silver City Galleria in Taunton, according to a Businesswire press release. The Brockton location employed 79 associates, and 82 associates worked at the Taunton location, according to the release.
The Macy’s at the Bangor Mall in Maine will also shut down, according to the Businesswire release.
The retailer said Wednesday that sales at established stores fell 2.1 percent in November and December compared to the same period last year. Macy’s Inc. pointed to changing consumer behavior and said it reflects challenges facing much of the retail industry.
The company said it plans to close by midyear the 68 stores that are part of 100 closings announced in August. It also plans to restructure parts of its business and sell some properties. The moves are estimated to save $550 million annually.
Shares in Macy’s fell more than 8 percent in after-hours trading.