Macy’s on Wednesday released the locations of 68 of the 100 stores it plans to close this year, with the Sarasota Square store among five in Florida that will be shuttered.
The Sarasota location opened in 1977 and has 86 employees. Also closing is the University Square location in Tampa, which opened in 1974 and has 73 employees.
The closures are part of a plan announced last year by Macy’s to shut down about 100 stores, which represents 15 percent of its base. The stores are scheduled to close early this year, though dates haven’t been announced.
After a disappointing holiday season, Macy’s also said it is eliminating more than 10,000 jobs. The retailer said that sales at its established stores fell 2.1 percent in November and December compared to the same period last year. Macy’s Inc. pointed to changing consumer behavior and said its performance reflects the challenges that are facing much of the retail industry.
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The company said the 68 store closures are part of the 100 closings it announced in August. Of the 68, three were closed by the middle of 2016, 63 will close in the spring and two will be closed by the middle of 2017. Some may be offered positions at nearby stores but Macy’s estimates that 3,900 employees will be affected by the closures.
Macy’s also said it plans to restructure parts of its business and sell some properties. This will lead to the reduction of 6,200 jobs. The moves are estimated to save $550 million annually.
Overall, Macy’s said, the job reductions represent about 7 percent of its workforce.
Here is the complete list of the 68 stores that will close.