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Silverman said he expects more stores will continue to close than open in the U.S., as retailers’ growth comes from online sales and as larger companies take a bigger share of the market.
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
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 ...
Convenience stores like 7-Eleven are shutting down, too. Blame it on what people are calling the "retail apocalypse." COVID-19 may have kick-started it, but this isn't just a pandemic problem.
The company has decided to close all American Freight stores nationwide. There are 365 stores in 40 states, so it’s a large brand. Closing sales at all stores and online will begin on Nov. 5.
The closing of many Big Lots stores, as part of its bankruptcy, come in tandem with closures announced by other retailers such as Macy's, Kohl's and Party City, and more recently, JCPenney and Joann.
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 ...