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2024 Retail Industry Discussion Thread


Brad

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Retailers closed down over 4,600 stores in 2023, with more to come in 2024
 

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[Retailers] also opened almost 5,500 stores in the U.S. in 2023, for an overall net increase of about 900 stores

  • Bed Bath & Beyond: 866 stores
  • Tuesday Morning: 463 stores
  • CVS Health 300 stores
  • 7-Eleven: 184 stores
  • Family Dollar: 102
  • Walgreens Boots Alliance: 172

For 2024, U.S. retailers have so far announced 580 store closures, with some including CVS Health and Walgreens.  

 

 

Salem New Hampshire is a good example of this.  Many of the stores in the malls remain empty and the K-Mart remains vacant, but Ocean State Job Lot replaced Toys'r'Us and the Tuscan Village has attracted a lot of business.  In Seabrook New Hampshire, the mall anchored by Ames has only a Market Basket grocery store.

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  • 5 weeks later...

The yearly "Macy's store closings" article - I do my best to try and keep our local store going but I am still amazed they're not closing. 

 

https://www.fastcompany.com/91013506/macys-stores-closing-2024-full-list-locations-ca-fl

 

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Macy’s store closures come as brick-and-mortar retail outlets continue to face significant headwinds from consumers who increasingly make online retailers like Amazon their first shopping destination. The stores that are closing are:

  • Bayfair Center, San Leandro, California
  • Simi Valley Town Center, Simi Valley, California
  • Governor’s Square, Tallahassee, Florida
  • Kukui Grove Center, Lihue, Hawaii
  • Ballston Quarter, Arlington, Virginia

 

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I'm really hoping Joann can restructure and survive this.  I live in a larger sized town and even then we don't really have much in the way of options for apparel fabric.  We have one really nice quilt shop, but sometimes I'm looking for different options.  I've also heard that a lot of the Viking (Husqvarna) Sewing Galleries are closing as a result of Joann stores closing. The VSGs rent space from Joann to sell their sewing/embroidery machines.  I'll be super upset if our local one loses their spot because of this - I have one of those machines and they are my local dealer for support.  

 

In other news, I strolled through our Macy's store Friday night and they now have big curtains hanging up around some empty sections of the store.  I was looking for clothing to wear to a work conference this month; I found 2 tops but nothing really appropriate.  I don't know how they've survived this long.  I'll be amazed if they're not on the chopping block for the next round of closings. 

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