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You'd think a chain like Best Buy would be immune to store closures given the number of consumers who prioritize spending on electronics. But Best Buy is making plans to close 10 to 15 stores in 2025.
The company reported net income of $22 million, down from $59 million for the same period in 2023. Kohl's shares have fallen more than 50% of the last 12 months.
Why Is JCPenney Closing More Stores? JCPenney filed for bankruptcy back in 2020. Since then, about 240 of its stores have closed. Right now, there’s about 650 locations left in the U.S.
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 ...
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.
Investment bank UBS projected that around 50,000 or so U.S. stores will close by 2027, reported Forbes. ... Discount Stores Like Dollar Tree and Dirt Cheap Are Closing Locations: See If Your State ...
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 ...
3. Which Stores Are Closing? Check this list to find out if your city is losing a Big Lots: Arizona: Goodyear. California: Alhambra, Arcadia, Bellflower, Inglewood, and La Verne