Macy’s Inc. will close its downtown St. Louis store in the Railway Exchange Building at 601 Olive Street late this summer.
The company said Monday that a final clearance sale will begin on June 2 and run for about 10 weeks.
The 189,000-square-foot store, opened in 1924, employs 94 associates who will be offered positions in nearby stores and facilities in some cases, and severance in other cases. Macy’s has eight other stores in the St. Louis metropolitan area.
Another 100 Macy’s associates in corporate and district offices on the ninth and 10th floors of the Railway Exchange Building will be relocated to the retailer’s offices in Earth City in St. Louis County.
“We have worked hard to reinvigorate our downtown business, including remodeling, downsizing and refocusing the store in 2011,” said Peter Sachse, Macy’s chief stores officer. “But unfortunately, the level of customer activity we see no longer justifies keeping the store open.” Between store openings and closings, the 840-unit Macy’s has kept its store count more or less constant over the last few years. In January, the company announced six other closings, including three downtown units in Houston, St. Paul and Honolulu, though Bloomingdale’s plans to open in Honolulu in fall of 2015 and this fall in Glendale, Calif.