Staff and wire reports

DELTA TWP. - The Macy's stores at the Lansing Mall and at Lakeview Square Mall in Battle Creek are among dozens slated for closure as part of a restructuring effort, the company said today.

Macy’s says it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season. The department store chain also lowered its full-year earnings forecast.

The Lansing Mall store opened in 1979 and has 57 employees. The Lakeview Square Mall store opened in 1983 and has 51 employees. Two other Michigan stores, in Harper Woods and Westland, are set to close this year.

Managers at the Lansing Mall store could not immediately be reached for comment, and it was unclear when the store will close.

The retailer said Wednesday that sales at its established stores fell 2.1 percent in November and December compared to the same period last year. Macy’s Inc. pointed to changing consumer behavior and said its performance reflects the challenges that are facing much of the retail industry.

The company said the 68 store closures are part of the 100 closings it announced in August. Of the 68, three were closed by the middle of 2016, 63 will close in the spring and two will be closed by the middle of 2017. Some may be offered positions at nearby stores but Macy’s estimates that 3,900 employees will be affected by the closures.

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Macy’s also said it plans to restructure parts of its business and sell some properties. This will lead to the reduction of 6,200 jobs. The moves are estimated to save $550 million annually.

Overall, the job reductions represent about 7 percent of its workforce.

The company, which owns the Macy’s and Bloomingdale’s brands, has been struggling with declining traffic in its stores, where the bulk of its business is still conducted. It said it is closing stores that are “unproductive or are no longer robust shopping destinations” as well as selling those with highly valued real estate.

It plans to invest some of its savings in growing its digital business.

Macy’s said it now expects to earn between $2.95 and $3.10 per share on an adjusted basis for its 2016 fiscal year, versus its prior forecast of $3.15 to $3.40 per share. The company is scheduled to report full results in February.

Shares in Macy’s fell nearly 10 percent to $32.30 in after-hours trading.

The company said three of the 68 stores it identified Wednesday have already closed. Another 63 will be closed in early 2017 and two will close in the middle of this year. Another 30 stores might be closed over the next few years as leases expire or sale transactions are completed.

A complete list of store closings is available on the company's website: http://www.macysinc.com/press-room/