When one door closes, another one opens in the retail world.
Bloomingdale's plans to open an upscale department store at Santa Clara's Westfield Valley Fair shopping mall. Parent company Macy's, Inc. included the news Wednesday in the same press release issued to announce the imminent closure of 36 Macy's department stores across the country, including one in Sacramento and two in Southern California, in order to reduce operating costs by about $400 million annually.
"In light of our disappointing 2015 sales and earning performance, we are making adjustments to become more efficient and productive in our operations," said Macy's CEO Terry J. Lundgren in a statement. "Moreover, we believe we can operate more effectively with an organization that is flatter and more agile so we can pursue growth and regain market share in our core Macy’s and Bloomingdale’s omnichannel businesses faster and with more intensity.”
Bloomingdale's also operates Bay Area locations in Palo Alto and San Francisco.
The 150,000-square-foot Santa Clara store is set to open in fall 2017 with a staff of 250 associates.
