• At least ten retail brands have said they’re closing US stores in 2024, totaling up to 1,330 locations.
  • Family Dollar is the largest chain on the list, planning to close at least 600 stores this year.
  • Other companies, such as Walmart and TJX,  are closing a few stores while opening many more.

A Business Insider tally of disclosures from nine retail chain brands found as many as 1,330 stores have closed or are set to close across the US in 2024.

The number is down considerably from prior years, including last year, when the collapse of Bed Bath & Beyond contributed to a total of more than 2,800 locations shuttering.

Analysts at UBS think the total number of US retail closures could reach 45,000 over the next five years, led largely by smaller stores going out of business, even as larger firms such as Walmart, Costco, Target, and Home Depot continue to expand.

Topping this year’s list is the Dollar Tree-owned Family Dollar, which is set to close at least 600 locations, with more to come as leases expire.

Some companies, including Express and Foxtrot, are in dire financial straits. Others, such as Walmart and TJX, have plans to expand by more stores than they close. Still others, like Foot Locker and Macy’s, are shifting their strategies as shopping patterns change.

See the full list below:

Read the full article here

Leave A Reply

© 2024 Brilliance Financials. All Rights Reserved.