US retail bloodbath continues as store closures hit 2,600 so far this year – here’s the full list

US retailers have introduced the closure of virtually 2,600 shops in 2024 – simply 4 months into the 12 months.

Huge names together with Macy’s, Walmart, Walgreens, Foot Locker and 7-Eleven have all mentioned they’re closing outlets. 

However low cost shops like Household Greenback and bankrupt 99 Cents Solely have been worst hit, as have drugstores like CVS and Ceremony Help. 

If the closures had been to proceed on the similar price for the remainder of the 12 months they’d complete 7,800 in 2024 – virtually 40 % greater than the whole in 2023.

Bricks-and-mortar areas are struggling within the face of competitors from on-line. 

Scroll down for the complete listing of closures to this point in 2024.

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Between January 1 and Might 3, retailers closed or introduced plans to shut a complete of two,599 areas, in line with Coresight Analysis.

An extra 12 retailer closures within the final week had been led by Skechers and Save A Lot with eight and two respectively. QuikTrip and Walmart every deliberate one.

In the meantime, retailer openings had been as much as 3,560, lower than the three,824 that had been deliberate by this time final 12 months.

Yr up to now, main US retailers have subsequently introduced 2.5 % extra closures and 9.5 % fewer openings in comparison with the identical time final 12 months.

Household Greenback and Greenback Tree, that are owned by the identical firm, revealed in March that greater than 600 shops would shut in 2024. These characterize round 15 % of all areas.

The retailer with the second-highest variety of closures was 99 Cents Solely Retailer. 

In April, it introduced it might shut all 371 of its areas, blaming excessive inflation and rising theft.

The West Coast model – which has shops in California, Texas, Arizona and Nevada – introduced the information with out giving a timeline for the closures.

In a press release, interim CEO Mike Simoncic mentioned the choice was because of ‘lasting challenges within the retail atmosphere, together with the unprecedented affect of the COVID-19 pandemic, shifting shopper demand, rising ranges of shrink, persistent inflationary pressures and different macroeconomic headwind.’

Main drugstores had been additionally behind a big proportion of the closures this 12 months. CVS, Ceremony Help and Walgreens had been liable for 315, 165 and 77, respectively.

Whereas the CVS and Walgreens focused underperforming shops, the Ceremony Help closures come after it declared chapter in October. Since then it has shut 431 areas.

99 Cents Solely Shops is shutting ALL 372 of its areas – right here is one in Los Angeles on La Tijera Boulevard that opeend in 1982

CVS is shutting greater than 300 shops. This from a closure in 2029

Ceremony Help entered Chapter 11 chapter in October. Since then it has shut greater than 400 areas across the nation

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Main pharmacies are struggling within the face of competitors from Amazon, and big-box chains like Walmart and Goal.

As well as, Ceremony Help has additionally been unable to settle tons of of lawsuits accusing the corporate of overprescribing opioids. 

And final month, style retailer Specific filed for Chapter 11 chapter and mentioned it meant to shut greater than 100 shops.

The retailer, whose portfolio of manufacturers additionally consists of Bonobos and UpWest, listed belongings and liabilities within the vary of $1 billion to $10 billion, in line with a submitting with the chapter court docket in Delaware.

As a part of the chapter course of, the corporate mentioned it might shut roughly 95 Specific retail shops and all of its 12 UpWest shops.