Macy's is one of four anchors at the mall. The store opened in 1987. It is the only Macy's in Alabama. The company employs 337 workers in Birmingham and Augusta.
Federated has not decided whether it will sublease or sell the property. Federated also operates a 216,038 sf Rich's department store in the Galleria. The mall is owned and managed by Montgomery, AL-based Jim Wilson & Associates Inc.
Federated's Macy's East division, based in New York, operates 114 stores in 15 eastern states and Puerto Rico. The division had 2000 annual sales of $4.8 billion. Federated expects to take a restructuring charge of $35 million to $40 million for the two Macy's closings and three Lazarus closings announced earlier this month.
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