Macy’s to Close Store in Livingston?
LIVINGSTON, NJ - After disappointing sales for several consecutive months, a source is telling The Essex Times that Macy's plans to close its store in the Livingston Mall on Eisenhower Pkwy. This comes after a dramatic announcement that the Ohio-based department store chain would close dozens of its stores nationwide. The closings will result in the loss of 10,000 jobs.
Declining sales are a direct result of shoppers going online to retailers like Amazon to buy everything from hats to shoes. The West Orange store on Rooney Circle was closed more than a year ago after showing continued losses for several years. That layoff left close to a hundred people without a job. Closing the store in Livingston will force more than one hundred employees to look for a new job.
"We continue to experience declining traffic in our stores where the majority of our business is still transacted,'' Terry Lundgren, Macy's CEO indicated in a press statement. The giant’s CEO added that "we are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape…These are never easy decisions.''
“These are really bad news”, says one Macy’s employee to The Essex Times, “I am not sure whether I will have a job tomorrow. What am I going to feed my children? How am I going to pay my rent?”
The news also made investors nervous with Macy's shares plunging more than 7% today to a 7-year low.