PHOENIX -- Fiesta Mall will soon be without one of its anchor tenants: Macy's will close its Mesa location in the next few months.
The 159,000-square-foot Fiesta Mall location opened in 1979 and currently employs 98 people, who either will be offered positions in another store or receive a severance package.
The closure is part of a larger reorganization that will cut 2,500 jobs.
The Cincinnati-based company plans to close five stores, including the one in Mesa, and open eight others, leaving it with 844 stores nationwide once the changes are complete.
Macy's says the moves will save it $100 million per year and forecast a 2014 profit above Wall Street's forecasts.
The news sent its shares up 5.5 percent in after-hours trading.
As a result of the closing, the Fiesta Mall Macy's will have a final clearance sale beginning Monday that is expected to last for 10 to 11 weeks.
No exact closure date was given.
The Associated Press contributed to this report.