SALEM, Ore. (AP) - Macy’s Inc. has announced plans to close its store at the Lancaster Mall in Salem early next year.
The Statesman Journal reports (https://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 is also closing its downtown Portland store and selling the property for $54 million. The 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.
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Information from: Statesman Journal, https://www.statesmanjournal.com
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