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With changing priorities, people have less time to spend driving to and strolling through malls and, during the Great Recession, specialty stores offered what many shoppers saw as useless luxuries they could no longer afford. In this respect, big box stores and conventional strip malls have a time-saving advantage. [8]
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 ...
Bed Bath & Beyond announced in April 2019 that it would close 40 stores and also open 15 new stores that year. The company continued to struggle through the retail apocalypse, and in late summer of 2022, Bed Bath & Beyond announced plans to close 150 stores, lay off 20% of its corporate and supply chain staff, and eliminate the role of COO and ...
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
Store closures in the U.S. last year hit the highest level since the pandemic — and even more locations are expected to shutter this year, as shoppers’ dollars increasingly go to a few ...
The company’s stores are on average approximately 20,000 square feet, more than double the size of a typical dollar store chain. “It was like trying to run a McDonald’s on five times the ...
The COVID-19 pandemic has taken a sharp economic toll on the retail industry worldwide as many retailers and shopping centers were forced to shut down for months due to mandated stay-at-home orders. As a result of these closures, online retailers received a major boost in sales as customers looked for alternative ways to shop and the effects of ...
Macy's, a company with strong Ohio ties, will shut down 150 stores in a realignment effort, the retailer announced in a news release Tuesday. But the Jackson Township store will remain open. But ...