As brick-and-mortar retailers struggle to compete against the fact that people are increasingly shopping online, many are forced to close some or all of their stores. And it’s not just small mom and pop shops that are being affected — but large national retailers.
On the heels of store closures in 2019, Pier 1 announced a plan in January 2020 to close up to 450 additional stores — nearly half of its total store count. The closures include 331 locations across the United States and all of the stores in Canada. After announcing its plan to reduce its store footprint, the home goods retailer filed for bankruptcy in February.
According to an announcement the company made in March, GameStop will shutter roughly 320 stores in 2020. That number is on par with the number of stories it closed in 2019.
“In fiscal 2020, we will continue in our efforts to de-densify our store base, focused on maximizing product productivity of the entire fleet,” Chief financial officer Jim Bell said of the decision.
GameStop currently operates around 5,500 stores around the world.
Bose is shrinking its retail footprint to focus its attention on online commerce. In January, the electronics company announced that the closure of 119 retail stores across North America, Europe, Japan and Australia. The company said it no longer requires as many brick-and-mortar stores as most of its costumers are buying their products online. Despite the shift, it will continue to operate about 130 stores throughout China, the United Arab Emirates, India and some Asian countries.
In 2019, Gap Inc. revealed it would shutter roughly 230 of its namesake stores worldwide — about 50% of its locations — over a two year period. As part of its plan, the retailer closed 40 stores globally in January, including 29 locations in the U.S.
The corporation also previously announced that it plans to spin sister company Old Navy into its own separate business, as the store has continuously topped Gap and Banana Republic in sales. The remaining Gap stores, along with Banana Republic, Athleta, Intermix and Hill City, will continue to operate under the umbrella company NewCo.
Upscale stationery chain Papyrus will no longer be a mall staple. Schurman Retail Group, which owns the brand, filed for bankruptcy in January. The company announced at the same time that it would be closing all 254 of its stores across the U.S. and Canada.
In August 2019, Walgreens revealed its plans to shutter 200 U.S. locations under a multiyear cost-cutting effort. This batch of closings is in addition to the 750 stores the pharmacy chain previously confirmed.
Express closed the doors of 31 stores in January 2020. The closures were part of the fashion retailer’s “fleet rationalization,” which includes 100 store closures overall. According to USA Today, another 35 stores will close by the end of January 2021 and the rest by 2022.
Luxury retailer Neiman Marcus is ditching most of its discount stores. In March, the department store chain announced that it was closing the majority of its 22 remaining Last Call discount stores, shifting focus to its high-end business instead. In addition to shuttering those locations, the company is also cutting 250 non-sales jobs at its full-line department stores.
In another hit to the greeting card business, at least 16 Hallmark-branded stores in the U.S. are closing. The company has been seeing a decline in business as customers shift to commemorating special events on social media rather than by buying cards.
More Sears stores are set to close in 2020. The liquidation sales at 51 locations, initially announced in November by parent company Transformco, ended in mid-February. However, additional liquidation sales are reportedly expected in the first half of the year at dozens of stores across the nation, according to USA Today.
Vera Bradley is rethinking its business strategy, refocusing its attention on licensing rather than on brick-and-mortar stores. The brand will be selling its home products via various other retail chains, including Bed Bath and Beyond and Macy’s. As for its full-line stores, the company plans to close up to 50 of its 110 locations by 2021, when many of its leases are set to expire.
Chico’s FAS, the parent company of women’s clothing chain Chico’s, previously confirmed that it would close 250 locations over three years, starting in 2019. The closure will affect not only its namesake stores but also certain locations of its two other retail brands, White House Black Market and Soma.
JCPenney initially planned to close six stores by the end of April. The closures were planned for South Carolina, North Carolina, Montana, Oklahoma, Ohio and New York. However, in May, the company announced plans for a significantly higher number of closures. The chain is now poised to close 242 stores permanently through its Chapter 11 bankruptcy restructuring plan, leaving it with about 600 remaining locations.
In October 2019, Destination Maternity filed for bankruptcy. As part of its case, the company is closing more than 180 of its stores. The retailer also said it may close additional stores depending on how its bankruptcy goes. The company oversees several brands, including Motherhood Maternity, Destination Maternity and A Pea in the Pod.
Macy’s is closing the doors of 123 stores as part of a three-year cost-saving plan. The closings represent about one-fifth of the retailer’s locations. In addition to closing those locations, the company will also cut 2,000 corporate jobs and close several offices.
After filing for bankruptcy protection in September 2019, Forever 21 said it expected to close 350 stores globally. That includes 178 locations in the U.S. Closures began to take place in early 2020.
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Dear Earth Fare Customers, It’s with a heavy heart we must announce that Earth Fare, the healthy supermarket many of you have turned to for years, is closing its doors. We were proud to serve natural and organic products to our shoppers for 45 years, and the decision to close our stores was not easy, nor one we wanted to make. We would like to thank our loyal customers, who were on the forefront of the natural and organic movement, as well as our team members, for their commitment and dedication to bringing healthy food to the communities we served. Beginning today, February 4, 2020, we will begin the closing process with an inventory liquidation sale. We appreciate your patronage with us throughout the years—it has been a pleasure serving you. Thank you for being a valued and loyal customer!
Organic grocery chain Earth Fare is also going out of business. The company announced plans to close all of its locations in February. Earth Fare has stores in Florida, Georgia, Virginia and several other southeastern states.
Bed Bath & Beyond
Bed Bath & Beyond, which also owns Buy Buy Baby and Christmas Tree Shop, announced plans to close 60 locations — including 40 of its namesake stores — in 2019 as part of a massive reorganization effort within the company. While half of its Bed Bath & Beyond store closures took place in 2019, the other half were delayed until 2020.
Sporting goods chain Modell’s has closed all of its remaining stores. The company announced it would shutter its 100-plus locations in March, shortly after filing for Chapter 11 bankruptcy.
Walmart planned to close three stores in early 2020, including a location in Ypsilanti, Michigan, and two more in Wadesboro and Lumberton, North Carolina. The company announced the closings to local news outlets.
New Jersey-based arts and crafts chain A.C. Moore will close its 145 stores in 2020, as its parent company Nicole Crafts announced in a news release last year. About 40 of those locations will be converted into Michaels stores.
Art Van Furniture
Venerable Midwest furniture retailer Art Van Furniture will close and liquidate its stores, the company announced in March. The stores were all expected to close within 60 days, following going-out-of-business sales at all of its locations.
Olympia Sports announced plans to close 76 stores in late 2019. The decision came after sports retailer JackRabbit acquired the footwear and apparel chain. The remaining 75 stores will continue to operate under the Olympia Sports banner.
Regional grocery chain Lucky’s Market has closed most of its stores, as announced in January. The company had about 40 locations across 10 states, although the majority of its stores were in Florida. It shuttered 32 of those stores this year, with the closures wrapping up in mid-February.
Like Sears, Kmart held liquidation sales at dozens of its locations throughout mid-February. Following the shuttering of 45 stores, more closures could follow. As USA Today reports, the company was planning to throw more going-out-of-business sales in more locations across the country in spring 2020.
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In May, off-price retailer Tuesday Morning filed for Chapter 11 bankruptcy, also announcing plans to close more than a third of its stores. The struggling chain was pushed into bankruptcy after closing all of its brick and mortar locations amid the coronavirus pandemic. The company now plans to close 230 of its nearly 700 stores over the summer.
Nordstrom will permanently close three Jeffrey designer apparel boutiques, as well as 16 department stores. The company announced its plans in May, with the closures set to take place in Arizona, California, Colorado, New York, Maryland and several other states.
Victoria’s Secret will shutter approximately 250 stores across the United States and Canada throughout the year. Parent company L Brands confirmed the planned closures in May, following its first-quarter earnings report that showed a drop in sales for the fourth consecutive period.
Bath & Body Works
Bath & Body Works, also owned by L Brands, will see its share of store closures this year as well. In May, L Brands revealed that it plans to close the doors of 50 locations throughout the U.S. and one in Canada. Despite the closures, L Brands is slated to open 26 new Bath & Body Works locations within the U.S. this year.
Office Depot plans to cut over 13,000 jobs and close certain retail locations by the end of 2023, as announced in May. The office supply retailer is seeking to shift its focus to its IT services business units. The company is reportedly still evaluating the number of possible store closures.