Macy’s to close store in Salem

SALEM – Macy’s Inc. has announced plans to close its store at the Lancaster Mall in Salem early next year.

The Statesman Journal reported that the announcement comes as the Cincinnati-based retailer posted year-over-year sales declines in a Thursday earnings report. Macy’s is also closing its downtown Portland store and selling the property for $54 million. The downtown Salem location will remain open.

The company had announced earlier this year that it would shutter 100 of its stores.

It has seen a consistent drop in sales for the first three quarters of the year, with a 4.2 percent year-over-year drop.

Macy’s has been at Lancaster Mall for the past decade.