Macy's to close store at Birchwood Mall

Mike Mozart | Flickr

The company announced the closing of 11 Macy's stores, four of which were previously disclosed.

The location was previously a Burdines department store and served as the company's headquarters until Burdines was bought by Federated Department Stores, Inc., which also owns Macy's. The closings are part of a plan announced in 2016 to close 100 stores.

As the mega retailer Macy's announced closures of 11 more stores across the country, there's no word on whether the proposed 75,000-square-foot enlargement of the Staten Island Mall's department store will actually happen.

Macy's also said it is making staffing adjustments across the stores organization with reductions in some stores and increases in others, and is further streamlining in some non-store functions.

The store's 54 employees were notified of the closure Wednesday. Macy's shares closed the day down 3.7 percent on the news after rallying for most of the day Tuesday. As detailed in a recent feature in Fortune, Macy's has been ramping up its line-up of gift products, trying to tame the volume of promotions it offers customers, and working on reducing store clutter to win its back into shoppers' good graces.

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Having faced pressure before from activist investor Starboard (which sold its stake in the company in 2017) to separate its real estate from its retail business, Macy's has still been taking steps to make money from those assets.

Macy's has also struck deals in the past with some of its landlords, including General Growth Properties, to sell locations and generate cash in a pinch. CEO Jeff Gennette says the company's focus has been expanding online, stabilizing its stores and laying the foundation for growth.

- CNBC's Courtney Reagan contributed to this reporting.

Both stores are expected to close mid to late March 2018. In most cases, clearance sales will begin on January 8, 2018, and run for approximately 8 to 12 weeks.

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