U.S. Store Closures Surge

This is a U.S. news story, published by CNBC, that relates primarily to Coresight Research news.

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Most major retailers

CNBC

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Business & Economics

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

Summary

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82% Informative

Store closures in the U.S. spiked in 2024 and are expected to rise to about 15,000 this year , according to Coresight Research , a retail advisory group.

The striking numbers reflect the stark divide between retailers that are gaining market share, such as Walmart and Costco , and those that have lost ground or filed for bankruptcy.

The five retailers that have announced the most closures this year are Party City , Big Lots, Walgreens Boots Alliance , 7-Eleven and Macy 's, respectively.

Some unique factors have widened the gap between store openings and closures, analysts say.

Retailers' growth comes from online sales and as larger companies take a bigger share of the market.

Some stores in mall or strip shopping centers are getting replaced by fitness studios, urgent care clinics or apartments.

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formal

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English

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