After falling on hard times, Macy's announced 68 out of 100 stores it plans to close. This includes one location in Las Vegas, which will close by the end of 2017.
The Boulevard Mall's general manager and vice president confirmed that its location is the one closing. Timo Kuusela did not have an exact date for the closure.
He did tell 13 Action News that it presents "exciting opportunities" for Boulevard Mall as it is transitioning to a more non-retail location.
There had initially been reports it was the Fashion Show Mall location, but it was later determined to be Boulevard Mall.
CNBC reports that the company will also eliminate layers of management to cut costs. About 6,200 people in total will be removed from the workforce.
Macy's says it will focus its attention on its best-performing locations and its website. The move will save the company an estimated $550 million a year starting in 2017.
The company's market shares fell more than 9 percent on Wednesday after coming up short in sales during the holiday season. While nearly all stores have seen a positive cash flow, Macy's President and CEO-designee Jeff Gennette said, "their volume and profitability in most cases have been declining steadily in recent years."
To see the full list of closures, click here.
