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Macy’s Announces Closure of Sarasota and Tampa Stores Amid Strategic Overhaul

| Suncoast Post Staff |

Macy’s, the renowned department store chain, has officially confirmed the closure of 66 underperforming stores nationwide in 2025 as part of its “Bold New Chapter” strategy. This initiative aims to return the company to sustainable, profitable sales growth by closing approximately 150 underproductive stores over a three-year period while investing in its 350 go-forward locations through fiscal 2026.

Macy’s, Inc.

Among the slated closures are two Florida locations: one in Sarasota and another in Tampa.

  • Sarasota Location: Situated in The Crossings at Siesta Key, approximately five miles south of downtown Sarasota, this property has a rich history, having previously operated as Westfield Southgate Plaza and, before that, Southgate Mall. University Park-based Benderson Development is currently in the permitting and approval phase to redevelop the property into a mixed-use lifestyle village featuring retail, commercial, and residential components. Notably, the Macy’s at the Mall at University Town Center in north Sarasota County is not on the closure list.

Wikipedia

  • Tampa Location: The specific Tampa store set for closure has not been detailed in the available information.

Additional Florida closures include a full-service store in Boynton Beach and furniture stores in Altamonte Springs, Fort Lauderdale, Pembroke Pines, and South Dade.

The US Sun

Macy’s “Bold New Chapter” strategy, announced in February 2024, is designed to reposition the company for growth and enhance shareholder value. The plan involves closing underperforming stores and focusing resources on more successful locations. As part of this strategy, Macy’s plans to open up to 45 new Bloomingdale’s and Bluemercury stores through 2026.

Macy’s, Inc.

Despite these closures, Macy’s remains committed to enhancing the customer experience and delivering growth by investing in its remaining stores and expanding its luxury offerings. The company has faced challenges in recent years, including declining sales and increased competition from e-commerce and off-price retailers. Analysts have noted that while the strategy is showing signs of success, with improved sales for three consecutive quarters in newly invested stores, the overall retail environment remains challenging.

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