An estimated 12,000 shops could close by the end of 2019

[bostonangler]

The retail apocalypse isn't showing any signs of slowing down.

Eight months into 2019, there have already been 29% more store closings announced than in all of 2018, according to a new report from global marketing research firm Coresight Research.

Based on Coresight Research's figures, retailers' earnings reports, bankruptcy filings and other records, more than 7,600 stores are slated to shutter this year and thousands of locations already gone.

Bankrupt footwear company Payless ShoeSource, which closed its remaining U.S. stores in late June, accounts for about 37% of the closings.

The "going-out-of-business" sales and liquidation of other brands is expected to continue. Coresight estimates closures could reach 12,000 by the end of the year, the report said.

Coresight, which has offices in Manhattan, London and Hong Kong, tracked the 5,864 closings in 2018, which included all Toys R Us stores and hundreds of Kmart and Sears locations. 

Sears and Kmart store closings list: 21 Sears and 5 Kmart locations to close in October

Walgreens store closings: Drugstore chain plans to close 200 U.S. stores, according to new SEC filing

The record year for closings was 2017, with 8,139 shuttered stores, Coresight found. This included an earlier round of Payless closings, the entire HHGregg electronics and appliance chain, and hundreds of Sears and Kmart stores.

The pain is expected to continue into future years, according to an April report from UBS Securities. UBS analysts said 75,000 more stores would need to be shuttered by 2026 if e-commerce penetration rises to 25% from its current level of 16%.

A separate analysis by UBS said tariffs on Chinese imports could put $40 billion of sales and 12,000 stores at risk.

“The market is not realizing how much brick & mortar retail is incrementally struggling and how new 25% tariffs could force widespread store closures,” UBS analyst Jay Sole wrote in the May report. "We think potential 25% tariffs on Chinese imports could accelerate pressure on these company’s profit margins to the point where major store closures become a real possibility.”

Charming Charlie store closings: Retailer going out of business, will close all 261 stores in Chapter 11 bankruptcy

Is Toys R Us making a comeback?: A year after stores closed, there's talk of new locations

Closing all locations

Thousands of locations have already closed this year with the final Payless stores finishing their liquidation sales in June. All Charlotte Russe stores closed in April but the company's new owner has started to open new stores.

Payless ShoeSource: 2,589 (includes 248 Canada locations and 114 smaller-format stores in Shopko Hometown locations).

Gymboree/Crazy 8: 749

Dressbarn: 649. Here are the locations closing in July and August.

Charlotte Russe: 494; but the company's new owner is opening new stores.

Shopko: 371

Charming Charlie: 261

LifeWay Christian Resources: 170

Henri Bendel: 23

E.L.F. Beauty: 22

Topshop: All 11 U.S. stores

Barneys New York bankruptcy: Luxury retailer files for bankruptcy and announces 15 closing stores. See the list.

Perkins, Marie Callender's bankruptcy: Restaurant chain filed for bankruptcy after closing 29 locations

More closings

Some of the announced closures may carryover into 2020, which was the case with several closings announced in late 2018 such as Lowe's, Sears and Kmart. Gap Inc. announced Feb. 28 it would close roughly 230 stores over two years. Some retailers also are opening new stores while closing locations including Bath & Body Works and Abercrombie & Fitch. 

GNC: 192 stores closed in first six months of year; up to 900 over the next three years.

Family Dollar: As many as 390 stores

Fred's: 442; the company said July 12 it would close another 129 stores.

Chico's: 74, but 250 over the next three years.

Gap: Roughly 230 in next two years

Walgreens: 200

Foot Locker: 165, total includes closings outside of the U.S.

Signet Jewelers: The parent company of Kay, Zales and Jared said it would close another 150 stores.

Pier 1 Imports: 57, but up to 145 could close.

Ascena Retail: 120

Destination Maternity: 117

Sears: 21 more stores will close in October; 72 stores closed earlier this year

 

Victoria's Secret: 53

Vera Bradley: 50

Office Depot: 50

Kmart: Five more stores will close in October; 48 stores closed earlier this year

CVS: 46

Party City: 45

Sears Hometown and Outlet Stores: 45

The Children's Place: Up to 45

Z Gallerie: 44

DKNY: 41

Stage Stores: 40 to 60

Bed Bath & Beyond: 40

Abercrombie & Fitch: 40

Francesca's: At least 30 stores

Build-A-Bear: Up to 30 over two years

Williams-Sonoma: 30

J.C. Penney: 27

Bath & Body Works: 24

Southeastern Grocers: 22

Saks Off 5th: 20

Lowe's: 20

J. Crew: 20

Barneys New York: 15

Macy's: 8

Nordstrom: 7

Target: 6

J.Crew: 5

Kohl's: 4

Whole Foods: 1

Calvin Klein: 1

Pottery Barn: 1

Source: Coresight Research; staff research

Pier 1 Imports store closings: Retailer plans to close 57 stores, and more closures could be coming, interim CEO says

https://finance.yahoo.com/news/more-store-closings-coming-estimated-100014142.html

 

 

 

That's a lot of jobs..

B/A

[haden'sdad]

Amazon and other online retailers have contributed most to the brick and mortar store downturn. But in more than half of these instances, the stores were not well run...toy r us, sears... I'm sorry but I just have issues when articles like this only don't give all the facts. And yes, that's a lot of jobs...but if you WANT a job you'll find one

 

 

[bostonangler]

11 hours ago, haden'sdad said:

Amazon and other online retailers have contributed most to the brick and mortar store downturn. But in more than half of these instances, the stores were not well run...toy r us, sears... I'm sorry but I just have issues when articles like this only don't give all the facts. And yes, that's a lot of jobs...but if you WANT a job you'll find one

 

 

 

I didn't post it for the companies… I posted it for people who are losing jobs...

 

B/A

[md11fr8dawg]

Well if you believe the LSM there are more jobs than people to take them. SO WHAT IS THE TRUTH?? Anybody really know?

[bostonangler]

7 minutes ago, md11fr8dawg said:

Well if you believe the LSM there are more jobs than people to take them. SO WHAT IS THE TRUTH?? Anybody really know?

 

We have been creating lots of jobs, but they are not living wage jobs... And our economy is a consumption economy. There is no doubt things are going to get ugly. People right now have more debt than they did in 2007... It seems people never learn. When times are good save for when times are bad... It looks like people have just been living like tomorrow never comes...

 

B/A

[md11fr8dawg]

Unfortunately people have been living like this for years and they never seem to learn.

[MyLadiesDaddy]

2 hours ago, bostonangler said:

 

We have been creating lots of jobs, but they are not living wage jobs... And our economy is a consumption economy. There is no doubt things are going to get ugly. People right now have more debt than they did in 2007... It seems people never learn. When times are good save for when times are bad... It looks like people have just been living like tomorrow never comes...

 

B/A

You know what, I've been reading you complain for many years and I think I have a solution that will make you happy, or at least stop complaining. Why don't you go out there and create some of those high paying jobs?

[bostonangler]

1 hour ago, ladyGrace'sDaddy said:

You know what, I've been reading you complain for many years and I think I have a solution that will make you happy, or at least stop complaining. Why don't you go out there and create some of those high paying jobs?

 

I'm trying....😎

 

B/A