- More than 8,600 stores are expected to close in 2019.
- The Kitchen Collection, Sears,Kmart,Party City,Walgreens, and Barneys, are among the retailers that have recently announced store closings.
- Charlotte Russe, Family Dollar, and Chico’s recently announced more than 1,100 store closures in a span of 24 hours.
- Payless has said it plans to close all of its 2,500 stores in what could be the largest retail liquidation in history.
The staggering rate of store closures that has rocked the retail industry over the past couple of years is expected to continue in 2019, with roughly the same level of closures expected this year.
Retailers closed a record 102 million square feet of store space in 2017, then smashed that record in 2018 by closing another 155 million square feet, according to estimates by the commercial real-estate firm CoStar Group.
“This year we are predicting more of the same in the retail space,” CoStar senior consultant Drew Myers said.
Retailers have announced more than 8,600 store closures so far this year, according to an analysis by Business Insider.
Here’s a list of all the stores closing this year:
Payless ShoeSource: 2,500 stores
Gymboree: 805 stores
Dress Barn: 650 stores
Dress Barn, which is owned by Ascena Retail Group, announced in May that it was shutting down all of its 650 stores.
“For more than 50 years, Dressbarn has served women’s fashion needs, and we thank all of our dedicated associates for their commitment to Dressbarn and our valued customers,” Dress Barn CFO Steven Taylor said. “This decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today’s retail environment.”
Charlotte Russe: 520 stores
Charlotte Russe kicked off closing sales at 94 stores in February, after the company filed for Chapter 11 bankruptcy protection. In March, the company announced that it would liquidate its remaining 416 Charlotte Russe stores and 10 Peek Kids stores.
Fred’s: 520 stores
Discount chain Fred’s announced in April that it would close 159 stores by the end of May. In May, the company said it would close another 104 stores. In June, Fred’s announced plans to close another 49 stores. In July, the company said it would close 129 stores. In September, the company filed for bankruptcy and said it would close all its remaining stores within 60 days.
Family Dollar: 390 stores
Dollar Tree said in March that it plans to convert about 200 Family Dollar stores into Dollar Tree stores, and close up to 390 additional stores under the Family Dollar brand.
Shopko: 371 stores
Shopko filed for bankruptcy in January and said it would close 251 stores. The company said in March that it had failed to find a buyer for its business, and would liquidate its remaining 120 stores.
Charming Charlie: 261 stores
Charming Charlie, which sells jewellery and accessories, filed for Chapter 11 bankruptcy in July and said it plans to close all of its 261 stores in 38 states by the end of August.
Chico’s: 250 stores
The women’s clothing retailer Chico’s said in March that it would close 100 Chico’s stores, 90 White House Black Market stores, and 60 Soma stores over the next three years.
Gap: 230 stores
Gap said in February that it would close 230 namesake stores over the next two years as it reported that the brand’s same-store sales fell 7% during the holiday quarter. The company also said it would spin off its Old Navy brand.
Avenue: 222 stores
The women’s clothing retailer Avenue said in August that it planned to close all of its 222 stores in 33 states.
Walgreens: 200 stores
“As previously announced, we are undertaking a transformational cost management program to accelerate the ongoing transformation of our business, enable investments in key areas and to become a more efficient enterprise,” a Walgreens spokesperson wrote in a statement to Business Insider. “As part of this effort, we plan to close approximately 200 stores in the US.”
Forever 21: up to 178 stores
“The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords,” a Forever 21 spokesperson said in a statement to Business Insider. “We do, however, expect a significant number of these stores will remain open and operate as usual, and we do not expect to exit any major markets in the U.S.”
LifeWay: 170 stores
LifeWay Christian Resources said in March that it planned to close all 170 of its stores. The Nashville-based company said it will continue to sell Bibles, books, children’s products, church supplies, and Christian music and movies on its website.
The Kitchen Collection: 160 stores
Hamilton Beach Brands said in October that it planned to close all 160 of The Kitchen Collection’s physical stores. The Kitchen Collection is a subsidiary of Hamilton Beach Brands that sells cooking tools and small kitchen appliances.
Sears: 124 stores
Sears Holdings, which owns Sears and Kmart stores, emerged from bankruptcy in February after filing for Chapter 11 bankruptcy protection in October. The company announced new rounds of store closures in August and September.
Kmart: 115 stores
Sears Holdings, which owns Sears and Kmart stores, emerged from bankruptcy in February after filing for Chapter 11 bankruptcy protection in October.
Performance Bicycle: 102 stores
Performance Bicycle’s parent company, Advanced Sports Enterprises, filed for bankruptcy protection in November and later announced that it would close all 102 of its stores.
Destination Maternity: 42-67 stores
Destination Maternity plans to close between 42 and 67 stores this year.
Bed Bath & Beyond: 60 stores
Pier 1 Imports: 57 stores
Pier 1 Imports said it plans to close 57 stores in fiscal 2020.
Party City: 55 stores
Party City said it plans to close 55 of its 870 stores this year.
The party supplies company typically closes up to 15 stores each year.
“This year, after careful consideration and evaluation of our store fleet, we’ve made the decision to close more stores than usual in order to help optimise our market level performance, focus on the most profitable locations and improve the overall health of our store portfolio,” Party City CEO James Harrison said in a press release in May.
A’Gaci: 54 stores
A’gaci, a women’s clothing chain based in San Antonio, announced in August that it was going out of business and closing all its 54 stores.
Victoria’s Secret: 53 stores
Office Depot and OfficeMax: 50 stores
“Office Depot, Inc. continues to optimise its retail footprint as part of the three-year strategic plan announced in August 2016,” said Shera Bishop, a spokeswoman for Office Depot. “We will continue to serve our customers at neighbouring Office Depot and OfficeMax stores as well as online at officedepot.com.”
CVS Health: 46 stores
CVS Health said it closed 46 underperforming stores in April.
The Children’s Place: 45 stores
The Children’s Place said in May that it plans to close 40 to 45 stores in 2019, but the company is also planning to open 25 new stores over the next two years, including 10 new openings this year.
Abercrombie & Fitch: 40 stores
Abercrombie & Fitch said in March that it plans to close up to 40 stores this year. Abercrombie & Fitch also plans to open 40 new stores, including 20 Hollister stores, 15 Abercrombie Kids stores, and five Abercrombie stores.
The company announced the closings as it reported that its Abercrombie brands’ same-store sales fell 2% during the fourth quarter. Most of the stores that Abercrombie & Fitch plans to close are located in the US, the company said.
Christopher & Banks: 30-40 stores
The women’s clothing retailer Christopher & Banks said in December that it planned to close 30-40 stores over the following two years.
JCPenney: 27 stores
JCPenney said it will close 27 stores in 2019, including 18 full-line department stores and 9 home and furniture stores. The department-store chain said same-store sales fell 4% during the fourth quarter.
Beauty Brands: 25 stores
Beauty Brands, a regional chain of salon and spa superstores, said in December that it planned to close 25 stores this year.
Henri Bendel: 23 stores
Henri Bendel closed all its stores in January after 123 years in business.
Lowe’s: 20 stores
Z Gallerie: 17 stores
Z Gallerie, a home furnishings and decor retailer, filed for Chapter 11 bankruptcy in March. The company said it plans to close 17 of its 76 stores during the restructuring process, according to bankruptcy filings.
Walmart: 17 stores
The stores include Walmart Supercenters and Neighbourhood Market stores in Texas, Louisiana, Indiana, Arizona, California, Kansas, South Carolina, New Hampshire, Tennessee, Virginia, and Washington.
Barneys: 15 stores
Macy’s: 9 stores
Macy’s is closing stores in Wyoming, Washington, California, New York, Indiana, Massachusetts, Virginia, and West Virginia.
J.Crew: 7 stores
Kohl’s: 4 stores
Nordstrom: 3 stores
Nordstrom is closing stores in Florida, Virginia, and Rhode Island.
Lord & Taylor: 3 stores
Lord & Taylor is closing stores in Sterling, Virginia; West Nyack, New York; and Moorestown, New Jersey in 2019.
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