Important Takeaways:
- US retailers confirmed another 169 closures last week – bringing the total so far this year up to almost 2,600.
- Physical stores in shopping malls, strip malls, downtown centers and on Main Street in towns have been under threat from online retail and changing tastes.
- ‘Year to date, in 2024, major US retailers have announced 7.4 percent fewer openings and 12.3 percent more closures compared to the same time last year,’ read a report by Coresight Research on closures announced over the week ending April 26. The full list is below.
- The total of 2,587 closures in the first 17 weeks of the year is almost 300 more than at the same time last year, but a thousand less than the number of openings.
- Announced week ending April 26
- Express’s additional 103 store closures planned for this year
- Outfox Hospitality’s 35 store closures
- Ashley’s 13 store closures
- Urban Outfitters’ estimated seven (additional) store closures planned for this year
- Anthropologie’s estimated five (additional) store closures planned for this year
- Free People’s three store closures planned for this year
- In addition, Shop ’n Save, The Buckle and Walmart announced the closure of one store each.
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