Tuesday, April 16, 2019

​U.S. retail stores’ planned closings already exceed 2018 total

Boston Business Journal
As the internet continues to change shopping habits, stores across the United States continue to close. Less than halfway through April, U.S. retailers have announced plans to shut 5,994 stores, exceeding the 5,854 announced in all of 2018, according to data from Coresight Research.

Retailers in good financial shape are paring locations as their leases expire, while brands like Payless ShoeSource and Charlotte Russe are filing for bankruptcy and shutting hundreds of stores within months. Payless and Gymboree — which both filed for bankruptcy this year for a second time — account for almost half of the announced closings.. . . more