In the Know: Bed, Bath & Beyond and Macy's announce store closures in Southwest Florida
"Goodbye to You" might serve as a theme song today for two leading chains announcing store terminations in Southwest Florida.
Macy's is leaving Charlotte County while Bed Bath & Beyond is calling it quits along a pair of major shopping corridors in Estero and Fort Myers, accounting for half of its Florida closings by the end of February.
The targeted latter locations, where liquidation sales have begun: Coconut Point, 8020 Mediterranean Drive, and The Forum, 3248 Forum Blvd. Also hit: Miami and Port Richey, according to spokesperson Dominic Pendry, as he confirmed the moves ahead of Thursday's planned release of quarterly earnings.
For now, the remaining five venues in Naples, Cape Coral, Fort Myers and Port Charlotte are spared, but there may be more disappearing.
This round includes 43 in 19 states and Puerto Rico, and the company intends to close about 200 spots, representing about 20% of its sites, as part of a two-year plan, according to USA TODAY.
Even before the pandemic, the New Jersey-based home goods venture had been chipping away at the $12 billion-a-year empire it had been building since 1971. Last January, it released a list of 40 for the chopping block including a Tampa property.
That's a long way from the stature it had reached in American pop culture as the focus of the Adam Sandler 2006 fantasy film, "Click", in which his character goes through a mysterious door marked "Beyond" and chaos ensues. That's the only Sandler flick to ever receive an Academy Award nomination, and it was for makeup.
Macy's to close in Port Charlotte Town Center
The latest industry troubles in a changing retail world come as Macy's said Wednesday it was expecting to close this year at the Port Charlotte Town Center, Daytona Beach's Volusia Mall and at 35 other U.S. places.
And it's not done yet, with another 90 or so unknowns slated for padlocking in the future. The luxury giant can still be currently found at Collier's Coastland Center and Lee's Edison Mall.
Based on the typical number of employees at a locale for the two merchants, these ongoing current closings will likely mean the combined loss of nearly 200 jobs at a time when the area has had the worst unemployment in about seven years.
The Coconut Point shuffle
This week's movements continue the Coconut Point shuffle as merchants have been coming and going over the past year.
The center lost Duck Donuts and the Neapolitan Pizza diner, among others, but replacements have debuted including Toy World, Amfora Restaurant, Vampire Penguin, Lehne Burger and The Copper Closet.
For The Forum, this news emerges as the plaza is about to cope with three years of major road construction outside its doors to relieve congestion that has jammed up Colonial Boulevard from Six Mile Cypress Parkway to Forum Boulevard.
Based at the Naples Daily News, Columnist Phil Fernandez (firstname.lastname@example.org) writes In the Know as part of the USA TODAY NETWORK. Support Democracy and subscribe to a newspaper.