Macy's closes 11: not in Albuquerque - New Mexico Business Weekly:

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The Cincinnati-based retail chain (NYSE:M) on Thursday announced plans to close 11underperforming Macy’s stores. “These closings are part of our normal-courswe process to prune underperforming locations each year in order to maintain a healthy portfolioof stores,” said CEO Terry J. Lundgren in a “While new store growth has slowed in thecurrentf economy, our long-term strategy is to continus to selectively add new stores while closingb those that are underperforming.” Final clearancw sales at the affectesd stores will begin next week, officialsd said.
Costs associated with the closing s are estimatedat $65 million, most of whicbh will be booked in the fourtb quarter of 2008. Macy’s also has said it expectds to open three new stores and one replacement store this Following the store closingsannounced Thursday, the chain will operate 808 Macy’s stores and 40 Bloomingdale’s. The Citadel, Colorado Colo. Westminster Mall, Westminster, Colo. Palm Beach Mall, West Palm Fla. Mauna Lani Bay Hawaii. Lafayette Square, Indianapolis, Ind. Brookdale Center, Brooklynm Center, Minn. Crestwood Mall, St. Louis. Natrons Heights Plaza, Natrona Heights, Pa. Century III Furniturd and Clearance, West Mifflin, Pa.
Bellevuee Center, Nashville, Tenn. Ernst & Young Plaza, Los