Nearly 1,300 stores are closing across the US in 2024. Here's the list. (2024)

FAQs

What retailers are in trouble in 2024? ›

"A lot of this year's closures are related to bankruptcies of chains that have been in trouble for a while, like Rite Aid and Rue21," Neil Saunders, managing director of GlobalData, told CBS MoneyWatch. "We're also seeing several retailers, like Family Dollar, take action to weed out underperforming locations."

More companies announce bankruptcies and closures, citing inflation as almost 3,200 stores face shuttering in 2024: poll. More companies are declaring bankruptcy and shutting down operations, citing inflation and high costs.

Retailers have announced plans to close almost 3,200 locations in 2024, a 24% increase from a year ago. Some are victims of poor management, but others are struggling with changing consumer habits.

While Wal-Mart Stores as a corporate legal name is rarely used in public-facing materials or in stores themselves, CEO Doug McMillon said in a statement that he felt the name change was needed to be “consistent with the idea that you can shop us however you like as a customer.”

Up next on the chopping block was a Walmart in Fremont, California. When it closed on May 24, the store became the fifth California Walmart store to shutter in the Golden State in 2024.

Walmart has announced closures for nine locations across five states in 2024 so far. The company cited financial underperformance as the reason for the decisions. The company plans to open or begin construction on 14 new locations this year.

As off-price outlets continue to grow their bricks and mortar operations, Ross has maintained a steady course of store openings with the total planned for 2024 to include 75 Ross Dress for Less and 15 dd's Discounts locations.

In the US, only about 11% of commerce was ecommerce last year. So brick & mortar stores are still very much alive. What we're finding where I work (in retail customer insights) is that physical retail is not dying, but boring physical retail is.

No evidence. Burger King did not announce in April 2024 that it is closing its restaurants. This article was produced by the Reuters Fact Check team. Read more about our fact-checking work.

The year-end close is the process of finalizing a company's financial statements for the fiscal year. It includes balancing accounts, modifying entries, preparing financial statements, and adhering to regulatory regulations. A year-end close is vital for organizations because it provides numerous key benefits.

Is Walmart closing stores in Blue States? ›

Here's what we can VERIFY about store closures of each brand on the list. Walmart appears to have closed between 22 and 24 stores in 2023, according to media reports, but they weren't all in blue states.

By some estimates, there were as few as 700 large shopping malls left in the U.S. in 2022. Malls had an 8.6% vacancy rate at the end of 2023.

The issue is that brick and mortar is evolving. Retail businesses fail because they run online and offline operations separately, not allowing the two to combine. However, young shoppers in particular want to see the digital experience in store.

Influenced by a series of factors. such as the pandemic and changes in consumer behaviour, Party City filed for bankruptcy on January 17th, 2023. In 2024, Party City will close 35 stores. Additionally, many other retailers have announced plans to close.

Technology-Driven In-Store Experiences

The future of retail will be tech-driven, and the global smart retail market size is expected to grow at a CAGR of 29.1% by 2030. The pandemic spurred many retailers to invest in technologies like buy-online-pick-up-in-store (BOPUS) and self-checkout.

In June 2024, JCPenney announced that it would shutter four more locations, including: Shoppes at Bel Air in Mobile, Alabama. Sikes Senter in Wichita Falls, Texas. Elm Plaza in Waterville, Maine.