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Forum and wire reports, Published January 08 2014

Plan by Macy's to cut 2,500 jobs, close 5 stores won't significantly affect Fargo store

FARGO – Plans by Macy’s Inc. to close five stores and cut about 2,500 jobs will not have a significant effect on the Fargo Macy’s store, a spokeswoman for the company said Wednesday.

Andrea Schwartz, vice president for media relations, said the job cuts will be spread across about 850 stores, so the impact on any one location will not be large.

She said the Macy’s store in the West Acres shopping center is not among the stores that will be closed.

Macy’s estimates the cost-cutting plan will save the retailer about $100 million annually.

Shares of Macy’s, the operator of Macy’s and Bloomingdale’s department stores, rose 5 percent after the bell Wednesday.

The restructuring plan will include about 2,500 job cuts, the relocation of some stores and combining the company’s Midwest region with its North region, reducing the number of regions from eight to seven.