Macy's to Close 11 Stores

No one is safe from the struggling economy--not even retail giant Macy's, who just announced that they'll be closing 11 stores across the country.

Stores slated to close include locations in Los Angeles, West Palm Beach, Fla., Nashville, Tenn., and St. Louis, among others

"These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores," said Macy's Chief Executive Terry J. Lundgren in a statement.

The closures will cost roughly $65 million dollars and will affect 960 employees! The only good news to come out of it is that clearances will begin in the stores next week.