Monday, May 20, 2019

Coresight: 12K stores could shutter in 2019

Retail Dive
Retailers in the U.S. have announced 6,378 store closures so far this year, over 500 more than all of 2018's closures, according to a new report from Coresight Research emailed to Retail Dive. Coresight estimates that as many as 12,000 stores could close by the end of the year.

Retail bankruptcies this year account for many of the store closings. The liquidation of Payless ShoeSource's entire fleet, including 2,100 stores this year, accounts for about a third of the announced closures as of May. The liquidation of Gymboree, Charlotte Russe and Shopko in bankruptcy add another 749, 500 and 371 stores respectively, according to Coresight data.. . . more