Macy's closing Lafayette Square store

Store opened in 1974 and employs 84

Last Edited: Thursday, 08 Jan 2009, 8:54 AM EST Created On: Thursday, 08 Jan 2009, 8:52 AM EST

INDIANAPOLIS (WISH/AP) - Macy's has announced the closing of their Lafayette Square mall location in Indianapolis.

The Lafayette Square store opened in 1974 and employs 84 people.

The local store closing is one of 11 closures announced Thursday by the Cincinnati-based retail chain.

The news comes as Macy's says its December sales at stores open at least a year, or same-store sales, fell 4 percent. That's better than the 5.3 percent drop analysts surveyed by Thomson Reuters were expecting. However, Macy's is lowering its forecast for the fourth quarter and full year due to heavy markdowns.

Other stores slated for closure include locations in Los Angeles, West Palm Beach, Nashville and St. Louis, among others. Macy's Inc. says the closures will cost about $65 million, most of which will be booked in the 2008 fourth quarter.

According to a press release issued by Macy's, the stores to be closed are located in:

-- Ernst & Young Plaza (Citicorp Plaza), Los Angeles, CA (135,000 square feet; 136 employees; opened in 1986)

-- The Citadel, Colorado Springs, CO (195,000 square feet; 105 employees; opened in 1984)

-- Westminster Mall, Westminster, CO (156,000 square feet; 110 employees; opened in 1986)

-- Palm Beach Mall, West Palm Beach, FL (190,000 square feet; 71 employees; opened in 1979)

-- Mauna Lani Bay Hotel, Island of Hawaii, HI (3,000 square feet; 3 employees; opened in 1983)

-- Lafayette Square, Indianapolis, IN (160,000 square feet; 84 employees; opened in 1974)

-- Brookdale Center, Brooklyn Center, MN (195,000 square feet; 72 employees; opened in 1966)

-- Crestwood Mall, St. Louis, MO (166,000 square feet; 176 employees; opened in 1969)

-- Natrona Heights Plaza, Natrona Heights, PA (73,000 square feet; 124 employees; opened in 1956)

-- Century III Furniture and Clearance, West Mifflin, PA (83,000 square feet; 3 employees; opened in 2000)

-- Bellevue Center, Nashville, TN (211,000 square feet; 76 employees; opened in 1990).