More than 9,300 stores closed in 2019
CNNNew York CNN Business — 2019 was another bruising year for many American retailers, despite healthy consumers and a strong economy. Other retailers, such as Ann Taylor parent Ascena Retail, Family Dollar, GNC, Walgreens, Signet Jewelers, Victoria’s Secret and JCPenney, slashed their store footprints to save money and prop up higher-performing stores. Thousands more store closings could be on the way in the coming years as online shopping continues to replace purchases at physical stores and eat into retailers’ profits. Spencer Platt/Getty Images “Despite a very favorable consumer spending environment, department stores have yet to catch a break,” analyst Christinia Boni said in a research report. “Malls are benefiting from the refreshing influence of Generation Zers, who prefer to shop in stores and are driving traffic back to brick-and-mortar retail,” real estate firm CBRE analysts said in a research report.
History of this topic
See the full list of Big Lots stores as discount retailer reveals closures and 'going out of business' sales
Daily Mail
US retailers have shut 7,300 stores so far this year, up nearly 60% from 2023
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Store closures are rocking the US market. Here’s the restaurants and retailers shutting their doors
The Independent
Clothing store Express, a mall favorite, has filed for bankruptcy
NPR
True scale of US retail bloodbath revealed: How a 5,500 shops have closed in just one year... and even big names Walmart, Bed Bath & Beyond and Nike have suffered
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