Thu, 23 Jan 2025

Store closures hit highest level since pandemic — see who is shutting down the most locations

The trend reflects the divide between retailers gaining market share, such as Walmart, and those that have lost ground or filed for bankruptcy, like Big Lots.

* Over 20,000 stores closed in the US last year, with some of the biggest names including Macy's, CVS Health, and Family Dollar
* The trend is expected to continue this year, with more stores closing than opening
* Online shopping continues to rise, with Chinese e-commerce companies Shein and Temu pulling in a combined $100 billion in sales last year
* Retailers are adapting to changing consumer preferences by trimming back their footprints and focusing on online sales
  >>