The retail industry is changing — in some big ways.
Over the past several years, national retailers have had to start adjusting to a new type of industry and new expectations from consumers. The rise in budget-conscious shoppers looking for bargains, increase in online sales and increased competition in the discount retail space are just some of the factors forcing big companies to make some big changes.
Read more: Kohl’s to close 18 stores across U.S.
According to a recent report from 24/7 Wall St., with an increasingly large share of Americans now shopping online, brick-and-mortar retailers are having a hard time keeping sales up — and many are having to adjust to industry changes by closing down stores.
The reasons for store closings can vary. Some companies will close stores simply to optimize resources, while others may be forced to close hundreds of stores due to seriously struggling business.
In order to come up with the list of companies closing the most stores, 24/7 Wall St. reviewed all large U.S. retailers that have announced store closings for 2016 or that are in the process of closing stores over the next few years.
Read more: These stores will match Costco’s prices
11 retailers closing the most stores
11. Wolverine World Wide
- Closings: 100
- Annual net income: $123 million
- 1-year share price % chg.: -35.2%
- Industry: Apparel footwear & accessories
10. Men’s Wearhouse
- Closings: 109 to 119
- Annual net income: $0
- 1-year share price % chg.: N/A
- Industry: Menswear retail
9. Jos. A. Bank
- Closings: 129 to 139
- Annual net income: $0
- 1-year share price % chg.: N/A
- Industry: Menswear retail
8. Chico’s FAS
- Closings: 120 (2015-2017)
- Annual net income: $65 million
- 1-year share price % chg.: -24.9%
- Industry: Apparel stores
7. Sports Authority
- Closings: 140
- Annual net income: N/A
- 1-year share price % chg.: N/A
- Industry: Sporting goods
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Read more: 11 things you should never buy at a warehouse club
6. Finish Line
- Closings: 150 (2016-2020)
- Annual net income: $82 million
- 1-year share price % chg.: -20.6%
- Industry: Specialty retail
5. American Eagle
- Closings: 150 (2014-2017)
- Annual net income: $80 million
- 1-year share price % chg.: -2.9%
- Industry: Apparel stores
4. Walmart
- Closings: 154
- Annual net income: $16.4 billion
- 1-year share price % chg.: -17.9%
- Industry: Discount stores
3. Walgreens
- Closings: 200 (2015-2017)
- Annual net income: $4.2 billion
- 1-year share price % chg.: -3.8%
- Industry: Drug stores
2. Children’s Place
- Closings: 200 (2015-2017)
- Annual net income: $57 million
- 1-year share price % chg.: 21.1%
- Industry: Children’s apparel
1. Office Depot
- Closings: 400 (2013-2016)
- Annual net income: $8 million
- 1-year share price % chg.: -42%
- Industry: Office supply
