BATON ROUGE - Macy's will close its Cortana Mall location sometime in early 2016, the company announced Tuesday.

The company said the closure is one of 40 that are happening or have already happened and will reduce expenses by $400 million. Earlier in the day, Macy's said sales fell by 5.2 percent in November and December. Its fourth quarter 2015 profit is expected to fall short, the Associated Press reported.

Macy's said 108 associates work at the store closing on Airline Highway. Associates displaced by store closings may be offered positions in nearby stores and eligible full-time and part-time associates who are laid off will be offered severance benefits, the company reported on its website.

"In today's rapidly evolving retail environment, it is essential that we maintain a portfolio of the right stores in the right places," Terry J. Lundgren, chairman and chief executive officer of Macy's, said. "So we will continue to add stores selectively while also being disciplined about closing stores that are unproductive or no longer robust shopping destinations because of changes in the local retail shopping landscape."

The 243,000 square foot department store at Cortana opened in 1976. It is the only location in Louisiana listed as closing.

The company said there will be 8 to 12 week clearance sales starting Monday, January 11th.

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