TAMPA BAY - Late Wednesday evening, Sweetbay Supermarkets announced plans to close 33 underperforming stores in Florida.
The company plans to close the stores by mid-February.
In an emailed statement, spokesperson Nicole LeBeau said the move will help Sweetbay to "deliver profitable growth and accelerate shareholder value."
Action News also spoke with Alexis Muellner, an editor from the Tampa Bay Business Journal, who said the closures could damage the brand Sweetbay had built up in the areas where stores are closing.
Muellner also says the market that Sweetbay competes in is ultra competitive, it's main rivals include Wal-Mart and Publix, both brands which pride themselves on discount prices.
Muellner went on to say that grocery retail has very slim margins, and why some brands could be more vulnerable than others.
After these actions are complete, Sweetbay will have 72 stores in Florida
Stores on the list for closing include:
Pinellas and Pasco Counties
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