Throughout the last couple of years, retailers have been closing their stores. Why? Mainly because digital shopping continues to siphon shoppers away from physical stores.
As mall traffic continues to slow, there isn’t enough foot traffic for many retailers to justify a large physical footprint. While the vast majority of commerce still occurs at the store level retailers are quickly realizing that they no longer need to have a store in every community to be successful.
Store closings continue to be a daily occurance accros the industry regardless of segment. Below are 10 retailers that have undergone or plan to implement significant store closings.
1.Sports Authority. Sports Authority will close around 460 stores
2.Macy’s. Macy’s will close down around 100 stores nationwide.
3.Aeropostale. Aeropostale will close around 154 stores.
4.Walmart. Walmart will close around 269 stores, including 154 U.S. store locations.
5.Walgreens. Walgreens will close around 200 stores.
6.FinishLine. FinishLine will close 150 of their 167 stores.
7.Ralph Lauren. Ralph Lauren will close at least 50 of their stores.
8.American Eagle. American Eagle will close 150 of 1000 of their stores.
9.JC Penney. JC Penney has closed 73 stores already, and will close 7 more stores in 2016.
10.Office Depot. Office Depot to close 300 stores over the next three years.