Macy's, Sears & Kmart Announce Store Closures, Including Pittsburgh-Area Locations
PITTSBURGH (KDKA/AP) -- Western Pennsylvania will soon be feeling the impact of dozens of store closures announced Wednesday by Macy's, Sears and Kmart.
According to a press release from Sears Holdings, on Wednesday, the company informed the workers at 78 Kmart and 26 Sears locations that their stores would be closing.
The Pittsburgh-area stores impacted include: the Kmarts on Mall Boulevard in Monroeville and on Cross Roads Plaza in Mount Pleasant, and the Sears stores on Mall Run Road in Uniontown and the one on E. State Street in Hermitage/Sharon.
The company calls the decision to close stores "a difficult but necessary one."
"Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success," the company said in the press release.
The closures will happen this spring.
Brenda Waters reports:
The company says eligible associates impacted by the closures will get severance packages and the opportunity to apply for open positions at other area Kmart or Sears stores.
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.
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.
Several Pittsburgh-area Macy's stores are on the list.
They include: The Macy's at the Washington Crown Center in Washington County, the Beaver Valley Mall location, the Shenango Valley Mall location and the Macy's in Steubenville, Ohio.
Shares in Macy's fell more than 8 percent in after-hours trading.
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