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Retailers in the United States have closed or announced the closing of almost 2,600 brick-and-mortar stores and the avalanche is expected to continue.
FACT-O-RAMA! The closings are all from January 1 to May 3, 2024 which means we are losing 20.9 storefronts per day. At this rate, 7,628 stores will close by December 31.
TheBiggestLosersSomeindustrieshavebeenhitharderthanothers.
Cut-ratestoresareonlifesupport.The99CentsOnlychainisinbankruptcyandisclosingall371locations.FamilyDollarisclosing600storesandplanstokillanother370more,aswellas30DollarTreeoutlets,inthenextfewyearsforatotalof12-15%oftheirbusinesses.
BUILDBACKBETTER-O-RAMA! DollarTreeoncecharged$1foreveryitem.Today,thecheapestitemsare$1.25,andsomecostasmuchas$5.
DrugstorechainsCVSandRite-Aidareinthecrosshairs,too.
CVSisscheduledtogutawhopping900storesbytheendoftheyear.RiteAidfiledforbankruptcyandisclosing150stores.Walgreensisalsoclosing150storesaroundthenation.
FootLockerand7/11areclosinglocationstoo.BiggerstoreslikeWalmartandMacy’sarefeelingthecrunchandaxingstoresasw
