Walmart is literally everywhere, and new stores are popping up all the time. At the same time, the retail giant is closing 17 locations across the United States. So far, 10 of these include Neighborhood Markets. The others are full-sized stores in Louisiana, New Hampshire, Tennessee, Texas, Virginia, Washington, and Arizona.
Macy’s is seriously struggling. Every year they close more stores, and they just announced plans to close 125 more of their stores this year. They're also eliminating 2,000 corporate and support positions and shutting down their San Francisco and Ohio offices.
Department stores are having a hard time in this economy. Along with other major retail chains, Nordstrom is being forced to close some of its locations. This year, Nordstrom was forced to shut down nearly 50 brick-and-mortar shops.
J. Crew is nearing bankruptcy, and the only way to combat this is to drastically cut costs. They’re doing this by closing 20 stores. It could end up being more since the CEO stepped down after merely 17 months on the job.
Is J.C. Penny going out of business? They very well may be. Last year, J.C. Penny closed 27 locations, and financial experts don’t see an end in sight. Some estimate that there will be even more closures in the future, although the actual number hasn't been pinned down.
Barney’s New York
Barney’s New York filed for bankruptcy! The luxury store started off the year on the wrong foot by filing for Chapter 11 while simultaneously closing 15 stores. The company has been around since 1923, but even high-end brands can’t succeed in this market.
Bed Bath & Beyond
Bed Bath & Beyond may be opening 15 new stores, but they’re closing up to 60 this year. Even though they offer coupons, some people find that the items are too expensive and not worth the money. Execs say they’re willing to open more stores, but landlords need to offer the company better leases.
Lord & Taylor
Lord & Taylor has lost its relevance. It’s one of the oldest department store chains in the United States, founded in 1826, and sometimes it feels like it. The company recently announced there will be 10 store closures. In an effort to stay afloat, it’s trying to come to a partnership with Walmart to offer Lord & Taylor items through Walmart’s website.
Southeastern Grocers may not seem familiar, but Winn-Dixie, Bi-Lo, and Harveys may ring a bell. Owned by the same brand, Southeastern Grocers, all of these stores are suffering due to Amazon’s growth. Overall, it’s closing 22 stores this year.
CVS grew too quickly. Last year, they closed 46 stores across 16 states. Now, their plan is to close another 22 stores. This number represents a small percentage of the 9,600 locations in the United States, but one of the cuts included the world’s largest CVS, which stretched over 64,000-square-feet.
Lowe’s has to compete against Amazon, Walmart, and Home Depot. In response to dropping sales, it’s taking the axe to 51 locations, 20 in the United States and 31 in Canada. Lowe’s still has over 2,000 locations spread across the two countries, but that doesn’t mean they’re out of the woods.
Kmart is going under. We’ve seen it for a while now, and we’re honestly surprised that they’re still around. Last year, they shut down 53 stores. This year, they're planning on cutting another 45 locations. The only surprising thing about this is the fact the retailer has 45 more stores to close.
Victoria’s Secret made some pretty shocking remarks recently, and customers responded by not buying. Now, the brand is suffering. The business decided to change its tastes, statements, and store locations. This year, Victoria’s Secret will close 53 locations.
When you want to order office supplies, you go to Amazon. Few people think of Office Depot when they need pens nowadays. In order to survive, the office supply company decided to close up to 90 locations for this year. This is the final part of a three-year plan that will close 300 Office Depot and OfficeMax stores in total.
Things aren’t looking good for Sears. It’s been selling off brands to stave off bankruptcy, but it didn’t quite work. Last year, they closed 93 stores, including the one in Minnesota’s Mall of America. This year, another 51 locations are under the axe. Unfortunately, we don’t see things getting much better for Sears.
Walgreens will close 200 stores this year. That’s a pretty big number, but it really only represents around 3% of the locations in the United States. The company made this decision to achieve “increased cost efficiencies.” The fact of the matter is that Walgreens is having trouble like every other retailer out there.
Topshop is a British fast-fashion chain that came to America in 2009. Jay-Z and Kate Moss endorsed the brand, but it wasn’t meant to be. After over 10 years, it’s already planning to make an exit by closing 11 stores in the United States. Topshop’s parent company has even filed for bankruptcy.
Abercrombie & Fitch
Some remarks made by representatives of Abercrombie & Fitch has put the business in hot water. Couple that with the fact that malls are in trouble, Abercrombie & Fitch may not last much longer. This year, the company announced it would close as many as 40 locations.
The Children’s Place
Where will we buy clothes for our kiddos? Back-to-school won’t be the same now that up to 45 locations are closing. For the past few years, the retailer has been working toward closing 300 stores, so expect more on the way.
Pier 1 Imports
Pier 1 is getting squeezed out. The company is closing up to 145 locations. After last holiday season, sales dropped a shocking amount and things haven’t gotten much better since. If things continue like this, Pier 1 could be on its way to bankruptcy.
GAP used to be the coolest store around, but not so much anymore. This year, GAP is closing up to 230 locations. Along with that, Old Navy is breaking off into its own stand-alone store. All other brands will remain under GAP.
Family Dollar was purchased by Dollar Tree in 2015, but that couldn’t save it. This year, 390 stores will be closing. Along with that, 200 other locations will turn into a Dollar Tree. As if that weren’t enough, Dollar Tree is considering a price increase. Two Dollar Tree doesn’t have the same ring.
Shopko has been closing stores little by little to avoid bankruptcy, but the ball finally dropped in January. The retailer then decided it would shut down all of its stores by mid-June. This year, Shopko shut down all its locations, but the brand is planning on branching off to become "Shopko Optical."
Gymboree declared bankruptcy in 2017 and attempted a new strategy. Unfortunately, the company was no match for Amazon, Walmart, and Target. Then, it filed for bankruptcy once again, also declaring that it would be shutting down roughly 800 Gymboree and Crazy 8 stores.
Dressbarn has been around for 60 years, but it’s cutting its losses this year. The parent company, Ascena Retail Group, decided to close the chain and focus on more profitable brands. All 650 locations will be shutting down this year.
Chico’s is another company that’s fallen to Amazon. Instead of traditional brick-and-mortar stores, Chico’s is moving all of its sales online. Because of this, the company will be closing at least 250 locations this year, but it could be more. This is part of a three-year plan to decrease their physical locations.
Charlotte Russe is a women’s clothing chain that’s been around since the ’70s, but retail-pocalypse has hit the brand hard. This year Charlotte Russe announced it would be shutting down 512 stores. That amounts to around one-fifth of the company’s total locations.
Cheesecake Factory is struggling because people are gearing toward healthier food. Because of this, the chain decided to close 10 stores for this year. Could this be a trend that the company can’t beat? We’ll just have to watch to see.
Subway hasn’t announced how many stores it will be closing this year, but they’re definitely closing some. The chain has already closed 866 stores, and this year, the company will shut down more than 1,100 locations. The brand claims it’s opening more stores overseas, but year-over-year, location numbers have been falling.
Chipotle hasn’t opened new locations in over a decade, so closing stores is a pretty big deal. This year alone, they closed 50 locations. However, stocks are on an upward swing…for now. Chipotle needs to keep food quality high if they expect to last much longer. No more making customers sick!
Starbucks expanded pretty quick, but not all locations are working out. This year alone, Starbucks is closing 150 underperforming stores. While doing this, they’re also opening new shops where there aren’t any Starbucks. Do those places still exist?
Target has a lot of competition thanks to Walmart and Amazon. This year, six stores are closing. Recently, Target has been focusing on online sales rather than in-store sales in an effort to compete with the bigger retailers that are leading the market.
After Shopko’s bankruptcy, Kohl’s is in a better place than most. Add that to the fact that they aren’t in a mall, and you’ve got a good situation. Still, Koh’s is closing eight of its stores this year. The company says they’re doing this to balance out new store openings. In addition to that, Kohl's has partnered with Amazon, allowing you to make returns in some locations.
Forever 21 announced last year that would have to file for bankruptcy. Along with this, it’s closing 350 stores worldwide this year, and ceasing operations in 40 countries, including Canada. The brand helped create the “fast fashion” trend, but it wasn’t enough.
This year, GNC has a plan to close as many as 900 stores, mostly due to the fact that the company hasn’t been profitable in a while. This is coming on top of closing 192 company-owned and franchised locations last year. It’s just easier to purchase your supplements and nutritional powders elsewhere – not to mention cheaper in many instances.