Two Macy’s stores in North Texas will be closed by mid-2017, the company announced Wednesday.
The locations at Dallas’ Southwest Center Mall and Plano’s Collin Creek Mall will shut down as part of a nationwide closure of 68 stores this year.
“We continue to experience declining traffic in our stores where the majority of our business is still transacted,” said Macy’s CEO Terry Lundgren in a statement.
Macy’s said 103 associates at the Collin Creek location and 68 associates at the Southwest Center location will be affected. The department store will offer some of the employees jobs at other locations in North Texas and eligible associates will get severance benefits.
“We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, as well as monetizing locations with highly valued real estate," Lundgren said.
Macy’s said in a release the store closings will save the company about $550 million.