Macy’s
Macy’s is the latest department store chain to announce a slew of store closures in the coming years. In January, the company announced that it would permanently close 45 stores in 2021. According to CNBC, the cuts are part of a larger plan by Macy’s to shutter 125 stores by 2023, restricting its presence to high-end shopping malls.
Macy’s
Bed Bath & Beyond
Bed Bath & Beyond expects to shut down about 200 stores in 2021, following the closing of 200 stores last year. According to USA Today, by the end of February, another 43 stores will be permanently closed. The closures will take place in 19 states, with nine of them being in California.
Bed Bath & Beyond
Express
Last year, Express announced that it will close 100 of its stores by 2022, starting with 31 locations in 20 states in January 2020. Between the 1st of January 2021 and the end of the year, 35 additional stores are going to be closing down, while 25 are set to open their doors in the following year.
Express
Office Depot
Office Depot’s reorganization plan, which was first announced last spring, would last until 2021. The office supply company plans to close an unspecified number of stores and lay off over 13,000 workers by 2023. The proposals, according to sources, are part of the company’s ongoing efforts to cut costs as it moves from a traditional retailer to an IT services provider.
Office Depot
Walgreens
Since initially announcing the closures in 2019, Walgreens is currently shutting over 200 of its stores in the United States. The closures will account for less than 3% of the pharmacy chain’s total store count, which currently stands at around 9,600 locations around the world.
Walgreens
The Children’s Place
The Children’s Place is also closing a number of locations around the world this year. Last year, the children’s clothing retailer announced plans to close 200 stores in 2020 and another 100 by 2021. According to “Today,” the company hasn’t said which stores will close, but it’s mostly looking for “mall-based” sites.
The Children’s Place
J.C. Penney
J.C. Penney will close more stores this spring after declaring bankruptcy and closing more than 150 stores last year. In December, the department store chain announced that it will shut 15 more stores by the end of March 2021. “As part of our shop optimization strategy, which began in June with our financial restructuring, we have planned to close an additional 15 stores,” JCPenney said in a statement to USA Today. “Liquidation sales will begin later this month, and the stores will close to the general public in mid- to late March.”
J.C. Penney
Francesca’s
In November 2020, Francesca announced that it will close approximately 140 stores by the end of January 2021. The women’s boutique chain filed for Chapter 11 bankruptcy in December, with plans to sell the company, including its physical locations. According to a statement given to USA Today, the company currently operates 558 stores but “plans to renegotiate a number of leases via this phase, which may include closing new boutiques.”
Francesca’s
Signet Jewelers
This year, Signet Jewelers, which operates under the names Kay Jewelers, Zales, Jared The Galleria Of Jewelry, and Piercing Pagoda around the world, is closing many more locations. In 2020, the diamond jewelry chain announced that it will not reopen at least 150 North American locations that had been temporarily closed due to the COVID-19 pandemic in March. By the end of February 2021, another 150 stores will close.
Signet Jewelers
Pet Valu
Pet Valu has also been added to the list of businesses that have closed as a result of the coronavirus outbreak. In November 2020, the pet supplies company announced that it will close its 358 stores and warehouses throughout the United States. Customers will no longer be able to place orders on the company’s website, despite the fact that closing sales have already begun in markets around the world.
Pet Valu
Justice
Since permanently closing over 600 stores last year, Justice is set to close the remaining branches this year. The tween girl chain’s parent company, Ascena Retail Group Inc., announced plans to close the chain in November, with the remaining 108 stores set to close by early 2021.
Justice
GameStop
In 2021, GameStop, which has shuttered hundreds of stores in the last two years, plans to shutter even more. Before the end of its fiscal year in March December, the video game retailer announced plans to close over 1,000 stores. The closures follow nearly a decade of financial struggles for the gaming behemoth, which is attempting to recoup its debts following a $458 million net loss in 2018.
GameStop
Sears
Sears, which Transformco owns, has seen a sharp drop in revenue since declaring bankruptcy in 2018 and closing the majority of its stores over the previous two years. According to CNN, the struggling chain is in the midst of a “slow-motion liquidation,” and will resume closing stores as soon as possible next year, as well as listing several locations through commercial real estate agents.
Sears
The Disney Store
On March 3, Disney announced that approximately 60 of its North American Disney Stores will close by the end of 2021. According to the community, e-commerce, social networking, and theme park shopping projects will be prioritized. As of 2016, the company had 330 locations worldwide, with 200 in North America.
The Disney Store
Kmart
Kmart, which is owned by the same company like Sears, Transformco, is also closing its doors. The chain’s total store count has been reduced to just 48 stores, with further closures expected in the coming year as the commercial real estate market recovers.
Kmart
H&M
H&M expects to close another 250 stores in 2021, following the closure of 180 stores in 2020. The retailer’s decision was largely influenced by the coronavirus outbreak and the growing trend of online shopping. “More and more shoppers started shopping online after the pandemic,” H&M CEO Helena Helmersson said on “Good Morning America,” “and they are making it clear that they appreciate a relaxed and inspiring atmosphere in which shops and online link and reinforce each other.”
H&M
Victoria’s Secret
Following the closure of 250 stores across the United States and Canada last year, Victoria’s Secret is set to close more stores in the next two years. Victoria’s Secret CEO Stuart Burgdoerfer publicly discussed the planned closings during an earnings call with investors in May 2020. “We would expect a meaningful amount of gradual store closures outside of the 250 that we’re targeting this year,” he told USA Today, “suggesting that there will be more in 2021 and maybe a little more in 2022.”
Victoria’s Secret
Gap
Gap intends to substantially reduce its physical presence over the next two years. Gap Inc. announced in October 2020 that it will close 220 Gap stores across North America by the end of 2023. The store closures are part of the retailer’s strategy to focus on city centers and supermarkets rather than malls.
Gap
Banana Republic
Several Banana Republic stores, which are also owned by Gap Inc., will close. The company expects to close 130 Banana Republic stores by 2023. Between the Banana Republic and Gap, the chain will close 350 stores, accounting for around a third of its North American locations.
Banana Republic
Carter’s
Carter’s has decided to close hundreds of stores permanently as their leases expire in the coming months. In October 2020, the children’s apparel and accessories retailer announced plans to shutter approximately 200 stores, with around 60% of those outlets scheduled to close by the end of 2021. The current shops will close at the end of 2022.
Carter’s
American Eagle
They will complete other American Eagle locations this year after announcing plans to close 40 to 50 stores by 2020. As leases expire over the next two years, executives revealed last fall that the retailer may close up to 500 stores. Chief Financial Officer Mike Mathias told Retail Dive that the retailer considers “leasing tenure, mall profile, proximity to other shops, and customer experience level” when determining which stores to close permanently.
American Eagle
Zara
In the aftermath of the coronavirus pandemic, Zara is turning its attention away from brick-and-mortar stores and toward online purchases. Last summer, Inditex, the fashion company’s holding company, announced that it will shutter up to 1,200 stores around the world over the next three years, starting in 2020. The company also plans to invest $3 billion in developing its digital operations, including hiring more online customer service representatives.
Zara
Men’s Wearhouse
Last summer, Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Bank, announced that nearly 500 stories would be closed “over time.” As shoppers migrated to remote jobs and had less need for formalwear, the COVID-19 pandemic hit the men’s clothing retailer hard. Since filing for bankruptcy in August and completing the final stages of the Chapter 11 proceedings in November, the company is slowly recovering.
Men’s Wearhouse
Chico’s
According to CEO George J. C. Becker, Chico’s has committed to making a real effort to complete a program to close 250 stores over the next three years and will seem consistent with that goal. One of the women’s clothing stores has gone in the direction of expanding its e-commerce activities, and sales in an effort to provide other outlets.
Chico’s
Abercrombie & Fitch
Abercrombie & Fitch’s four most important flagship sites will close by the end of January 2021. The closures, which were planned before the COVID-19 pandemic, will take place mostly in London, Paris, Munich, and Dusseldorf, Germany. In Brussels, Madrid, and Fukuoka, Japan, three more important stores will close this year as their leases expire.
Abercrombie & Fitch
Nine West
Nine West seeks to reorganize its debts by selling off pieces of the company and filing for Chapter 11 bankruptcy protection. All of this was made possible by the company’s $1.5 billion debt. The shoe retailer agreed to phase out its Easy Spirit brand and shuttered all but 25 of its locations. Anne Klein, One Jeanswear Group, and Kasper Grouper are among the jewelry and apparel labels that the company plans to concentrate on.
Screenshot 12
Payless
Of all the businesses that intend to close this year, Payless ShoeSource has the most store closures. To get rid of their inventory and liquidate their outlets, the company expects to shut over 2,500 stores and conduct clearance sales. Some stores will remain open until May, while others will close by the end of March.
Payless
Gymboree
Gymboree Group Inc, a children’s clothing chain, filed for Chapter 11 bankruptcy in mid-January. They have announced the closure of approximately 800 Gymboree and Crazy 8 stores in the United States and Canada. It has halted online purchases and has begun liquidation sales in supermarkets. Gymboree has filed for bankruptcy for the second time in the last two years. A variety of stores were shuttered by the company only last year.
Gymboree
Charlotte Russe
Charlotte Russe announced the closure of the entire chain in March of this year. Yes, it applies to over 500 stores throughout the country. The company had previously announced the closing of 94 stores. By April 30, 2019, all of the others had shut down. The company has also halted online purchases, but goods can still be purchased at liquidation sales in specific locations.
Charlotte Russe
Starbucks
Starbucks revealed in the summer that 150 underperforming stores would be permanently closed. This is three times the amount it usually closes at the end of a fiscal year. The closures, however, would affect large cities with oversaturated markets, according to the company. The coffee chain divisions are simply competing against one another in those areas.
Starbucks
Christopher & Banks
Christopher & Banks announced in late 2018 that it will close 30 to 40 stores by 2020. This does not, however, imply that the company’s revenues are declining. The company’s e-commerce sector has grown in recent years. Furthermore, it is predicted to rise even more this year!
Christopher & Banks
e.l.f Cosmetics
e.l.f. Cosmetics, like the other companies on the list, expect to close physical stores and concentrate on e-commerce instead. By the end of March 2019, twenty-two of its stores had closed. Patrons of this company, however, need not be concerned because their goods are still available for purchase on the official website and in drugstores throughout the country.
elf
Destination Maternity
Destination Maternity Corp. intends to put less emphasis on its retail presence in order to revitalize the business and increase e-commerce revenues. The store closures that they are implementing this year would impact approximately 42 to 67 stores. They did this in the hopes of saving money in the store and growing their online presence. The company also intends to open smaller locations “with reduced square footage to drive higher productivity,” according to USA Today.
Destination Maternity
Foot Locker
Foot Locker Inc. announced the closure of 167 stores in March 2019. It intended to increase its investment and pump millions of dollars into the remaining locations. This decision was taken in order to increase profit margins. The retailer’s shareholders were surprised by its performance in the fourth quarter of 2018.
Foot Locker
J. Crew
J.Crew seems to be in the news all the time these days. Following the departure of its CEO in 2018, the company began 2020 by closing six stores in January. These store closures are part of a larger effort to close 30 shops. Last summer, they made the proposal public. However, we have yet to learn which places they plan to close in order to achieve their objectives.
J. Crew
Vitamin Shoppe
Vitamin Shoppe is having problems that are close to GNC’s. To avoid these issues, they are concentrating on e-commerce and developing a subscription service. In 2017, top-line revenue totaled $1.2 billion, down 8.5 percent from the previous year. The problem can be attributed to the decline in popularity of shopping malls and the emergence of competitors. We’re hoping that with their category extensions, distribution services, and marketing activities, they’ll be able to break free soon!
The Vitamin Shoppe Store
Bebe
When Neda Mashouf, the creative director and wife of founder Manny Mashouf, left the company, Bebe’s revenues began to decline. The logo was created in 1979. The business had to deal with a slew of issues as shopping malls faded away. Bebe had a $4.6 million net loss last year. In addition, it paid $65 million to close retail stores and concentrate on e-commerce.
Bebe
David’s Bridal
Fancy gowns and lavish wedding ceremonies seem to be a thing of the past. More brides are opting for less expensive weddings and less formal attire. This is bad news for bridal gown stores like David’s Bridal. This brand’s sales are rapidly declining. They also have a $520 million loan due in 2020, as well as unsecured notes worth $270 million.
David’s Bridal
Bon-Ton
Bon-Ton, the online retailer and department store, has been around for a century, but it’s time to say farewell. The store filed for bankruptcy last year and then closed all of its locations. However, it reopened for e-commerce in 2018 and reopened a few shops. They were initially quite successful because they worked in small towns with little competition. Of course, Amazon changed it.
Bon-Ton
Claire’s
Claire’s was founded in 1961 as an accessories store. For a long time, it was the favorite shop of many young American girls. In 2018, the firm, however, halted its IPO and filed for Chapter 11 bankruptcy protection. It closed more than 130 stores around the country in May of that year.
Claire’s
Southeastern Grocers
Supermarkets are also having difficulties with sales. Southeastern Grocers, the company that owns Winn-Dixie, Bi-Lo, and Harveys, has announced that 22 of their stores will close by March 25, 2019. It took less than a year for the company to rebound from its Chapter 11 bankruptcy filing. 94 stores were forced to close during that period. Bi-Lo will be the most affected of the three brands it owns, with 13 stores expected to close.
Southeastern Grocers
Shopko
Shopko first announced its intention to close 70 percent of its stores by May 2019. They later changed their minds and announced that all of the stores would be closed indefinitely. Shopko filed for bankruptcy in January 2019, hoping to find a buyer to help it get out of this mess. Unfortunately, it was unable to find a buyer and attempted to liquidate all of its assets. By June 2019, it had closed all of its locations.
Shopko
Performance Bicycle
If you enjoy cycling, we have some unfortunate news for you. The country’s largest bicycle store has closed its doors. On March 2, the last of its 104 locations closed. Last fall, Advanced Sports Enterprises filed for bankruptcy. It planned to save at least half of its locations at first by attempting to renegotiate leases. Unfortunately, it had no choice but to fold and shut down the company.
Performance Bicycle
Lowe’s
Lowe’s is a well-known home and garden supply store. The company has now closed 51 stores, all of which were underperforming. The closures took place in the year 2019. It closed 20 stores in the United States and 31 in Canada. The company revealed its plans at the end of 2018, with the aim of closing all of its stores by February 1, 2020. When longtime CEO Robert Niblock retired and was succeeded by former J.C. Penney CEO Marvin R. Ellison, the decision to close stores was made.
Lowe’s
Vera Bradley
Vera Bradley is reassessing its business model, relying on licenses rather than having physical stores. The company is considering selling home goods through stores including Bed Bath and Beyond and Macy’s. It also intends to close up to 50 of its 110 locations by 2021. Many of the leases would be up for renewal at that time. However, 52 Vera Bradley factory outlets are still open for business, making it easier to visit a physical store.
Vera Bradley
Henri Bendel
Henri Bendel closed all of its 24 stores around the country in early 2020. The parent company, L Brands, revealed in the fall of 2018 that the entire brand, including the website and the popular Fifth Avenue location, will be shut down. The company decided to concentrate on products of greater promise, such as Victoria’s Secret and Bath & Body Works.
Henri Bendel
Family Dollar
Dollar Tree, a discount store, has announced that it will close about 390 Family Dollar stores in 2020. Clients will have to go somewhere else to get their personal care goods and other necessities. This organization has decided to rename about 200 branches. It also intends to make further improvements. They will try to raise the prices of their goods in a few stores soon.
Family Dollar
J.C. Penney
J.C. Penney has been a mall mainstay for years, but its revenues have been declining in recent months. It had a dry spell during the holiday season, and its stock value fell. As a result of these factors, the company has decided to close 18 department stores by 2020. Not only that, but it also intends to close nine furniture stores. This means that a total of 27 sites will be closed.
J.C. Penney
Z Gallerie
Z Gallerie is a high-end furniture retailer. It has recently joined the ranks of retailers that have declared bankruptcy. According to reports, the company is looking for a buyer who can help it avoid bankruptcy. Until then, the company is closing 17 stores around the country, accounting for about 20% of its total.
Z Gallerie
Beauty Brands
Beauty Brands announced to the world that 25 of its stores will close in 2018. The company filed for bankruptcy in January of that year, and its corporate staff was reduced. It said in its bankruptcy filing that the company’s operating costs had risen because it was a “predominantly brick and mortar retailer.”
Beauty Brands