January 7, 2016
Local Macy's stores survive $400M cut
WBJ File Photo
Macy's at the Auburn Mall.
The five Macy’s stores in Central Massachusetts were saved from the chopping block as the Cincinnati-based retailer announced the closure of 36 stores nationwide.
Macy’s in Auburn, Marlborough, Leominster, Framingham and Natick will remain open, according to the company’s announcement on Wednesday.
Other Massachusetts Macy’s weren’t so lucky, as the company announced closures in Springfield and Lanesborough. Those were the only two closures in Massachusetts.
The closures come after a 2015 with disappointing sales and earnings, said Terry J. Lundgren, chairman and chief executive officer of Macy’s, Inc. The company expects to save $400 million by closing the stores.
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