The Macy's store in downtown Miami is one of 11 stores closing this year, the company announced Thursday.
The store at 22 E. Flagler Street will be closing in early 2018, though an exact date wasn't released. Clearance sales will begin on January 8 and run for approximately 8 to 12 weeks, the company said.
The location was previously a Burdines department store and served as the company's headquarters until Burdines was bought by Federated Department Stores, Inc., which also owns Macy's. The Burdines name was dropped in 2005.
A second Florida Macy's, at the Oaks Mall in Gainesville will also be closing this year. The two Florida stores are among 11 that will be shuttered in 2018.
Macy's says it enjoyed sales growth during the holiday season, but the improvement wasn't enough to offset a tough year.
The department store said Thursday sales at established stores rose 1 percent in the November-December period. It now expects that figure to decline between 2.4 percent and 2.7 percent for the year. Total revenue is forecast to decline 3.6 percent to 3.9 percent compared to a year earlier.
Macy's also says it will cut jobs and streamline non-store functions. That should produce savings of about $300 million.
