Monday, March 25, 2019

2019 store closures close to surpassing last year's total

Retail Dive
The American brick-and-mortar landscape continues to undergo a massive retraction, but that's tempered by store openings that largely reflect a new wave in physical retail. Year to date, U.S. retailers have announced 5,399 store closures and 2,396 store openings, compared to 5,726 closures and 3,243 openings for all of 2018, according to the latest Coresight Research store tracker report.

Bankrupt Midwestern discounter Shopko offered the notable closure story of the week, with plans to shutter 120 stores on top of 251 from earlier in the year. Shoes of Prey is also closing down, which will free up space in Nordstrom stores in the U.S.. . . more