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The retail advisory firm projects that retailers will close about 15,000 stores this year as some legacy brands shrink and file for bankruptcy protection, or liquidating companies shutter locations.
The move comes weeks after the struggling retailer announced it would be closing 27 "underperforming" stores in 15 states by April. That leaves about 1,120 Kohl's locations in operation. That ...
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 ...
Walgreens said in 2019 it would close 200 stores and last year announced an additional 150 store closures. “We are at a point where the current pharmacy model is not sustainable,” Wentworth said.
Bath & Body Works announced the closure of 50 US stores and one Canadian store, along with the opening of 26 new stores, in May 2020 due to sales slumping amidst the COVID-19 pandemic. [ 35 ] Barneys New York filed for bankruptcy on August 6, 2019. 15 of 22 stores closed, including Barneys flagship stores in Las Vegas, Chicago, and Seattle in ...
Earlier this year, the discount retail chain Big Lots filed for bankruptcy, announcing it would be closing hundreds of stores nationwide. Today, that store closure count climbs higher.
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 ...
JCPenney announced plans to close more than 200 locations across the country after the retailer filed for Chapter 11 bankruptcy protection in May 2020. The chain was later acquired by Simon ...