North Bay spared in Macy's closures, for now

Macy's Inc. on Wednesday announced the first 68 of roughly 100 stores planned for closure, and none of the affected outlets are in the North Bay.

The closings, which will eliminate about 3,900 jobs, include California stores in San Diego, North Hollywood, Santa Barbara and Simi Valley.

But the two Macy's department stores in Santa Rosa were spared, as were the stores in San Rafael and Corte Madera.

Besides the job cuts from store closings, the company plans to eliminate about 6,200 more positions through restructuring, including in the operation of stores that remain open but experience reduced sales.

Terry J. Lundgren, Macy's chairman and chief executive officer, said in a statement that the company needs to maintain a 'healthy portfolio of the right stores in the right places.'

'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,' Lundgren said. '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.'

In a second press release, the company announced Wednesday that sales declined 2.1 percent on a comparable store basis in November and December from a year earlier.

Of the 68 stores named Wednesday, three shut down last year, 63 are slated to close in early spring and two will be shuttered by the middle of the year.

The company plans to close about 30 more stores 'over the next few years as leases or operating covenants expire or sale transactions are completed,' according to a press release.

As well as the closures, Macy's on Wednesday announced the sale and lease back of the property for its Stonestown Galleria store in San Francisco. That store will continue to operate, as will the company's Union Square Men's store in San Francisco under a similar lease back arrangement previously announced.

The Santa Rosa Macy's stores are located in two shopping centers operated by Simon Property Group, Santa Rosa Plaza and Coddingtown. Simon is a partner in Coddingtown with Codding Enterprises, the center's developer.

Neither Simon nor Codding Enterprises representatives could be reached for comment Wednesday.