Macy's closing its downtown Cincinnati store

Provided  Macy's

As the mega retailer Macy's announced closures of 11 more stores across the country, there's no word on whether the proposed 75,000-square-foot enlargement of the Staten Island Mall's department store will actually happen.

"While closing a store is always a hard decision because of the impact on our customers, our associates and the community, Macy's is delighted to have served this community over the years", Monica Gubrud, Macy's Media Relations Manager said in a statement. "Customers also responded well to our new loyalty program".

The location was previously a Burdines department store and served as the company's headquarters until Burdines was bought by Federated Department Stores, Inc., which also owns Macy's.

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On Thursday morning, Macy's revealed the exact locations of those 11 stores, saying clearance sales are starting as soon as next week and will run for up to 12 weeks.

The new closures include a downtown store in Miami, Florida and a furniture store in Novato, California. "Regular, non-seasonal employees who we are unable to place at nearby locations will be eligible for severance, including outplacement resources".

"While Macy's grew, it did so by far less than the overall sector; as such it is still losing market share both in total and within a number of key categories", Neil Saunders, Managing Director of GlobalData Retail, wrote in a research note.

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City Manager Harry Black called the store closing unfortunate, but said the city still benefits from having the Macy's corporate headquarters downtown.

With these closures, the company will have completed 81 of the approximately 100 planned store closures announced in August 2016. "So certainly not a shock, but it's always a sad day when you see a business that's been downtown for a long time go".

A Cincinnati real estate expert said the move was predictable. In most cases, clearance sales will begin on January 8 and run for up to 12 weeks.

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