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Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...
Liquidation sales began on May 22, and the stores closed by July 31. [168] Another 8 stores and a distribution center closed in 2018 while over 50 additional stores were expected to close between mid-2019 and late 2020. [169] [170] JCPenney filed for bankruptcy on May 15, 2020, and announced plans to close at least 242 stores. [171]
On July 19, luxury clothing retailer Ted Baker announced they will cut 500 jobs. [105] On July 20, Marks & Spencer announced they were to cut 950 jobs. [106] On July 24, the Office for National Statistics (ONS) showed retail sales had returned to pre-pandemic levels. [107] John Lewis & Partners announced eight stores would not reopen after the ...
Macy's has named 66 of the 150 stores that it's planning to close as part of its revitalization plan.. The retailer announced back in February 2024 plans to shut down 150 "underproductive" Macy's ...
A "handful" of JCPenney locations are soon to be closing, a company spokesperson said, adding to the retailer's long list of shuttered stores since it filed for bankruptcy in 2020.. The ...
People want convenience. They want low prices. And they won't stick around for stores that don't deliver. For now, the closures keep coming. If pharmacies don't evolve fast, this could just be the ...
The chain operated over 2,000 stores worldwide. Stores included lunch counters and fountain service as well as full department stores. It also operated Jupiter stores which were a smaller-scale version of Kresge's and located in downmarket or declining commercial districts (the equivalent of a "dollar store" division of Kresge's). Jupiter ...
Why Is JCPenney Closing More Stores? JCPenney filed for bankruptcy back in 2020. Since then, about 240 of its stores have closed. Right now, there’s about 650 locations left in the U.S.