Pleasanton Macy's Spared the Chopping Block: Local Store to Remain Open

PLEASANTON, CA — Macy's Inc. announced plans Wednesday to close dozens of stores across the country as part of a company-wide cost-cutting maneuver, but its store at Stoneridge Shopping Center in Pleasanton was spared.

The Cincinnati-based company said Wednesday it will close 68 stores, affecting about 3,900 positions nationally, as the result of a long-planned reorganization. The closures are part of the 100 closings announced in August. The company also plans to streamline its corporate operations, affecting 6,200 jobs.

SEE ALSO: Macy's Closing 68 Stores Across The Country: Full List

Macy's Chairman and CEO Terry J. Lundgren pointed to declining in-store traffic and a need to refocus the business on online sales as primary factors in the closures.

"As we've noted, it is essential that we maintain a healthy portfolio of the right stores in the right places," Lundgren said. "Our plan to close approximately 100 stores over the next few years is an important part of our strategy to help us right-size our physical footprint as we expand our digital reach. 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," he said.

"These are never easy decisions, and we are committed to treating associates affected by these closings with respect and transparency."

Macy's said in a statement that the closures were "estimated to generate annual expense savings of approximately $550 million, beginning in 2017, enabling the company to invest an additional $250 million in growing the digital business, store-related growth strategies, Bluemercury, Macy's Backstage and China."

– City News Service and Patch Editor Marc Torrance contributed to this story / Photo courtesy Shutterstock