When Macy's announced on September 8, 2015 that it has plans to close 35-40 underperforming brick-and-mortar retail stores in the 2016 calendar year, it was not the first of the largest U.S. retail chains to reveal future plans to close physical store locations in the 2016 and beyond. In fact, long-term store closing plans had already been announced by retail chains like Office Depot, Walgreens, Aeropostale, American Eagle Outfitters, and The Gap.
Barnes and Noble has already made its store closing plans public through 2023.
Generally large retail chains are reluctant to be publicly transparent about their future store closing plans because of the speculation it triggers with retail industry experts and consumers.
This is particularly true of publicly traded retail companies that don't want to create uncertainty with retail investors and analysts. While store closings are sometimes viewed favorably in the investment community, just as often store closing announcements cause investors, analysts, consumers, and news reporters to lose confidence in a retail company's relevance and ability to compete in a quickly changing and ultra competitive retail environment.
What follows is a complete roundup of U.S. retail chain store closing plans, and total numbers of store closings that retail chains have announced will take place in the U.S. and globally in 2016 and beyond. Information for this 2016 Store Closing List was obtained from reports made available to the general public through news reports, corporate documents, and company press releases, and will be compiled and aggregated as new information is released throughout 2016.
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4 comments:
I wonder how many of these will be closing in Salisbury. Surprised Macy's, Sears and Radio Shack are still in business. Driving by the mall during the week, I hardly ever see too many cars in the parking lot. How can anyone survive in a mall with the high rent and overhead?
10:00,my thought exactly probably some type of corporate welfare keeping the mall open.
I'm not current on my income tax info,but aren't some stores kept open even though they are losing money,just to give the company a write off?
I would be physically ill if Barnes and Noble closed their doors. I love that store and the staff are so pleasant and helpful.
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