Friday, August 30, 2019

Store Closings Could Hit 12,000 By the End of the Year

The so-called “retail apocalypse” continues as massive U.S. retail chains, including Payless ShoeSource, Gymboree, Gap and Dressbarn have already announced 7,888 stores closures this year, according to global marketing research firm Coresight Research.

That number easily beats the 5,844 total store closures in all of 2018, which included all Toys ‘R’ Us stores, as well as hundreds of Sears and Kmart locations.

The record year for closures was 2017, with 8,139 shuttered locations. If the current frenzied pace continues, however, store closings could hit 12,000 by year-end, Coresight reports.. . . more