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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.
Macy’s, for example, is in the middle of closing about 150 of its namesake stores across the country by early 2027. The department store operator has been shuttering roughly 50 of those per year ...
Investment bank UBS projected that around 50,000 or so U.S. stores will close by 2027, reported Forbes. Reasons for the closures include a lag in consumer spending, banks being less willing to ...
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.
Many closures are the result of already-struggling companies reaching their breaking points and declaring bankruptcy
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
The retail giant said in February that by 2026, it planned to shut down 150 "unproductive" stores, or roughly 30% of all its locations, while prioritizing investments in 350 "go-forward" stores ...
Approximately 500 Joann stores will be closing, according to a statement from the chain given to CNN. Right now, it operates 800 stores across the U.S., so that means over half its locations will ...