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Retail industry closures soared in 2024, with more than 7,100 stores shutting down through the end of November — a 69% jump from the same time last year, according to research firm CoreSight.
A projected 15,000 stores are expected to close between now and the end of December, and some of the retailers that are shutting down the most locations may surprise you. 10. Best Buy
Mercer said the retailers that are shuttering stores tend to fall in three categories: They are closing all locations as part of a liquidation, such as Party City; shutting down many of their ...
Bose shut down all of its 119 retail stores in 2020 in order to follow a "dramatic shift" to online shopping only. [ 79 ] Carter's announced the closure of at least 200 stores in an earnings call in October 2020; the children's apparel chain planned to close about 80% of its locations by 2022.
The company has shut down all of its nearly 380 stores, and sold its e-commerce business to Sunrise Brands. ... Fred's had already endured several rounds of closures and had fewer than 100 stores ...
SupeRx – Kroger created the first SupeRx store in 1961 with most stores next door or very close to existing Kroger stores [75] [76] Thrift Drug – merged into Eckerd after J.C. Penney bought Eckerd; Thrifty PayLess – acquired by Rite Aid in 1996; Treasury Drug – acquired by J.C. Penney, then shuttered in 1980; Value Giant; Wellby Super Drug
Many closures are the result of already-struggling companies reaching their breaking points and declaring bankruptcy
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 ...