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1200+ Retail Store Closings Announced So Far In 2020

January 27, 2020 / pymnts

The new year has not been kind to retail stores around the country, as the trend of accelerating store closings continues, according to a report by Yahoo! Finance. Macy’s, JCPenney, Papyrus, Express and Pier 1 Imports, among other retailers, have reported 1,218 closings this year already, according to data from global marketing research firm Coresight Research. Last year, 9,200 stores closed, including locations like Payless ShoeSource, Fred’s, Gymboree and Charlotte Russe. There were also widespread closures by Family Dollar, Forever 21, Charming Charlie, Sears, Kmart, A.C. Moore and GameStop. This will be the fourth year in a row that retailers will shutter 100 million square feet of space, which equals about 562 Walmart supercenters.