Retail giant Macy’s plans to restructure its retail set up, closing some of its underperforming Macy’s and Bloomingdale’s stores and opening new stores.

Ahead of their closures, the identified Macy’s and Bloomingdale’s stores will hold clearance sales beginning from January 8, 2012. Macy’s stores at West Ridge Mall, Topeka, Kansas; Laurel Mall, Laurel, Maryland; Parmatown, Parma, Ohio; Hickory Hollow, Antioch, Tennessee, and Mall of the Mainland, Texas City, Texas, will close by the end of the second quarter. Bloomingdale’s located at Perimeter Mall, Atlanta, Georgia; Oakbrook Home and Furniture, Oak Brook, Illinois; White Flint, North Bethesda, Maryland, and Mall of America, Bloomington, Minnesota, are slated for closure.

The new stores are planned to open at locations with promising opportunities. New Macy’s stores will open in Salt Lake City, Utah and Greendale, Wisconsin in the next four months, with further locations planned for 2013. Five new Bloomingdale's stores are planned to spring up this year, with additional stores to open in the next two years.