CINCINNATI - The Macy's store at Parmatown Mall will soon fall victim to the economy.
Store officials for Macy's announced a series of store openings and closings on Wednesday. While new stores will be popping up to fill gaps in certain markets, others will be shutdown because they're not pulling in the revenue.
"This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity," said Terry Lundgren, Macy's chairman, president and CEO.
The Macy's at Parmatown Mall, along with four other underperforming stores across the U.S., will close its doors in early spring 2012.
The closure means 94 workers will have to find another job, though Macy's said they will try to find employees jobs at other nearby Macy's stores. Those who end up laid off will be given severance packages.
Final clearance sales at the Macy's in Parma will begin Jan. 8, lasting for 10 weeks.
Five new Macy's stores and a replacement store are scheduled to open this year, but none of them are in Ohio.
When all of the planned openings and closings are complete, Macy's will operate 804 stores in 45 states, the District of Columbia, Puerto Rico and Guam.
Additionally, Bloomingdale's will close four stores in early spring 2012, open one new store, one replacement store and five outlet stores. None of the planned construction is slated for Ohio, nor are any of the closures.