2018 has been a tough year for some traditional retailers. After shutting down more than 5,000 stores in 2017, there have been nearly 5,000 more store closures announced so far this year.
The latest news comes from Sears Holdings. There are even more Sears and Kmart stores closing…
Retail closings: The latest news
Sears and Kmart – Files for bankruptcy; Additional stores closing
The store closing list is growing for Sears Holdings as it works to survive bankruptcy.
On November 8, the struggling company announced that 40 Sears and Kmart stores will be closing in February 2019. The accompanying Sears Auto Store locations are also shutting down.
Sears Holdings filed for Chapter 11 bankruptcy in October and announced it would close 142 unprofitable stores by the end of this year.
The company hopes to reorganize around a smaller platform of profitable stores. Sears and Kmart, along with their websites, will remain open during the Chapter 11 bankruptcy process:
“Over the last several years, we have worked hard to transform our business and unlock the value of our assets,” said Edward S. Lampert, Chairman of Sears Holdings. “While we have made progress, the plan has yet to deliver the results we have desired, and addressing the Company’s immediate liquidity needs has impacted our efforts to become a profitable and more competitive retailer. The Chapter 11 process will give Holdings the flexibility to strengthen its balance sheet, enabling the Company to accelerate its strategic transformation, continue right sizing its operating model, and return to profitability. Our goal is to achieve a comprehensive restructuring as efficiently as possible, working closely with our creditors and other debtholders, and be better positioned to execute on our strategy and key priorities.”
Closing Kmart and Sears locations (Announced November 8)
- Kmart 26471 Ynez Road Temecula CA
- Kmart 3443 W Addison Chicago IL
- Kmart 3250 Clear Lake Road Springfield IL
- Kmart 18 Elm Plaza Waterville ME
- Kmart 805 New York Ave Huntington NY
- Kmart 7101 Roosevelt Blvd Philadelphia PA
- Kmart 1901 Lincoln Hwy North Versailles PA
- Kmart Castro Perez Ave (Pr 122) San German Puerto Rico
- Kmart 100 Ave. San Patricio Guaynabo / San Juan Puerto Rico
- Kmart Betamces 400, Las Catalinas Mall Caguas Puerto Rico
- Kmart 6077 S Packard Avenue Cudahy WI
- Sears Airport Way Fairbanks AK
- Sears 4604 E Cactus Road Phoenix AZ
- Sears La Cumbre Plz Santa Barbara CA
- Sears 470 Lewis Ave Meriden CT
- Sears 801 N Congress Ave Boynton Beach FL
- Sears 3342 Nw Federal Hwy Us#1 Jensen Beach FL
- Sears 2300 E 17Th St Idaho Falls ID
- Sears Marquette Mall Michigan City IN
- Sears 7103 Democracy Blvd. Bethesda MD
- Sears 5575 B Drive N Battle Creek MI
- Sears 1740 Bonita Lakes Circle Meridian MS
- Sears 1001 Barnes Crossing Road Tupelo MS
- Sears 3320 Silas Creek Pkwy Winston Salem NC
- Sears 3404 W 13Th St Grand Island NE
- Sears 4355 Grand Canyon Dr Las Vegas NV
- Sears 3065 Route 50 Saratoga Spgs NY
- Sears 21182 Salmon Run Mall Watertown NY
- Sears 987 E Ash St Piqua OH
- Sears 1665 State Hill Road Reading / Wyomissing PA
- Sears 344 Stroud Mall Stroudsburg PA
- Sears 2197 Dave Lyle Blvd Rock Hill SC
- Sears Southland Mall Memphis TN
- Sears 401 Northgate Mall Chattanooga TN
- Sears 198 Foothills Mall Maryville TN
- Sears 1720 Old Fort Pkwy Murfreesboro TN
- Sears 750 Sunland Park Dr El Paso TX
- Sears Longview Texas Mall Longview TX
- Sears 10101 Brook Road Glen Allen / Richmond VA
- Sears 2500 Milton Ave Janesville WI
Closing Kmart locations (Announced October 15)
- Kmart 2821 East Main Street Russellville AR
- Kmart 912 County Line Road Delano CA
- Kmart 215 W Hanford/Armona Road Lemoore CA
- Kmart 1351 E Hatch Road Modesto CA
- Kmart 2530 S Euclid Avenue Ontario CA
- Kmart 3968-A Missouri Flat Road Placerville CA
- Kmart 375 E Alessandro Blvd Riverside CA
- Kmart 3247 W Noble Avenue Visalia CA
- Kmart 900 N W 76 Boulevard Gainesville FL
- Kmart 12350 Sw 8Th Street Miami FL
- Kmart 6239 Turner Lake Road Covington GA
- Kmart 400 Crosstown Road Peachtree City GA
- Kmart 1111 N 2Nd Street Cherokee IA
- Kmart 2803 E Kanesville Blvd Council Bluffs IA
- Kmart 2307 Superior Street Webster City IA
- Kmart 5000 23Rd Avenue Moline IL
- Kmart 4210 N Harlem Avenue Norridge IL
- Kmart 3701 Broadway Street Quincy IL
- Kmart 430 W Ridge Road Griffith IN
- Kmart 6780 W Washington Street Indianapolis IN
- Kmart 723 3Rd Avenue Jasper IN
- Kmart 7836 State Avenue Kansas City KS
- Kmart 400 South Broadway Salina KS
- Kmart 600 C W Stevens Blvd Grayson KY
- Kmart Northridge S/C Us Hwy 127 Russell Springs KY
- Kmart 7000 Veterans Memorial Metairie LA
- Kmart 6163 Oxon Hill Road Oxon Hill MD
- Kmart 835 Solomons Island Rd N Prince Frederick MD
- Kmart 417 Main Street Madawaska ME
- Kmart 06600 M-66 North Charlevoix MI
- Kmart 1025 M-24 Lake Orion MI
- Kmart 1 Flower Valley Shopping Center Florissant MO
- Kmart 7100 Nw Prairie View Road Kansas City MO
- Kmart 2901-5 N Belt Hwy St. Joseph MO
- Kmart 1001 Patton Avenue Asheville NC
- Kmart 4500 Western Blvd Raleigh NC
- Kmart 1530 East Broad Street Statesville NC
- Kmart 779 Delsea Drive N Glassboro NJ
- Kmart 8363 Lewiston Road Batavia NY
- Kmart 987 Route 6 Mahopac NY
- Kmart 2590 Military Road Niagara Falls NY
- Kmart 93 West Campbell Road Schenectady NY
- Kmart 349 Orchard Park Road West Seneca NY
- Kmart 15891 State Rt 170 East Liverpool OH
- Kmart 17840 Bagley Road Middleburg Heights OH
- Kmart 3955 S W Murray Blvd Beaverton OR
- Kmart 1502 South Fourth Street Allentown PA
- Kmart 528 W Plank Road Altoona PA
- Kmart 1180 Walnut Bottom Road Carlisle PA
- Kmart 1170 Mae Street Hummelstown PA
- Kmart 111 Hulst Drive Matamoras PA
- Kmart 100 Tarentum Road New Kensington PA
- Kmart 1000 Nutt Road Phoenixville PA
- Kmart 880 Butler Street Pittsburgh PA
- Kmart 720 Clairton Blvd/Rte 51 Pleasant Hills PA
- Kmart 3205 Lincoln Hwy Thorndale PA
- Kmart 129 West Butler Avenue Mauldin SC
- Kmart 2302 Cherry Road Rock Hill SC
- Kmart 6909 Maynardville Pike Ne Knoxville TN
- Kmart 6364 Springfield Plaza Springfield VA
- Kmart 2712 W Main Street Waynesboro VA
- Kmart 118 Waller Mill Road Williamsburg VA
- Kmart 1001 E Sunset Drive Bellingham WA
- Kmart 1701 4Th Avenue W Charleston WV
- Kmart 4000 East 2Nd Street Casper WY
Closing Sears locations (Announced October 15)
- Sears 1001 Rainbow Drive Gadsden AL
- Sears 3177 Chandler Village Drive Chandler AZ
- Sears 6515 E Southern Avenue Mesa/East AZ
- Sears 7611 W Thomas Road Phoenix-Desert Sky AZ
- Sears 2250 El Mercado Loop Sierra Vista AZ
- Sears 3150 S 4Th Avenue Yuma AZ
- Sears 3001 Ming Avenue Bakersfield CA
- Sears 100 Los Cerritos Mall Cerritos CA
- Sears 3333 Bristol Street Costa Mesa CA
- Sears 3751 S Dogwood Avenue El Centro CA
- Sears 5901 Florin Road Florin CA
- Sears 1011 W Olive Avenue Merced CA
- Sears 100 Vintage Faire Mall Modesto CA
- Sears 1401 N Montebello Blvd Montebello CA
- Sears 1700 Stoneridge Drive Pleasanton CA
- Sears 100 Santa Rosa Plaza Santa Rosa CA
- Sears 7001 S University Blvd Centennial CO
- Sears 10785 W Colfax Avenue Lakewood CO
- Sears 1201 Boston Post Road Milford CT
- Sears 850 Hartford Tnpk Waterford CT
- Sears 303 Us Hwy 301 Blvd W Bradenton FL
- Sears 3800 Us Highway 98 N Lakeland FL
- Sears 1050 S Babcock Street Melbourne FL
- Sears 300 Mary Esther Blvd Mry Est/Ft Wltn Bch FL
- Sears 3100 Sw College Road Ocala FL
- Sears 733 N Highway 231 Panama City FL
- Sears 460 N Milwaukee Street Boise ID
- Sears 3340 Mall Loop Drive Joliet IL
- Sears 1251 Us Highway 31 N Greenwood IN
- Sears 3401 S Us Highway 41 Terre Haute IN
- Sears 2625 Scottsville Rd Bowling Green KY
- Sears 4807 Outer Loop Louisville-Okolona KY
- Sears 1235 Worcester Road Natick MA
- Sears 15700 Emerald Way Bowie MD
- Sears 10300 Little Patuxent Pkwy Columbia MD
- Sears 400 N Center Street Westminster MD
- Sears 900 Briarwood Circle Ann Arbor MI
- Sears 2100 Southfield Road Lincoln Park MI
- Sears 12431 Wayzata Blvd Minnetonka MN
- Sears 425 Rice Street St Paul MN
- Sears 400 Cross Creek Mall Fayetteville NC
- Sears 703 N Berkeley Blvd Goldsboro NC
- Sears 11033 Carolina Place Pkwy Pineville NC
- Sears 50 Fox Run Road Portsmouth NH
- Sears 1750 Deptford Cener Road Deptford NJ
- Sears 1500 Highway 35 Middletown NJ
- Sears 6600 Menaul Blvd Ne Coronado NM
- Sears 1245 W Warm Springs Road Henderson NV
- Sears 1111 Franklin Avenue Garden City NY
- Sears Rt 394 & Hunt Blvd Lakewood NY
- Sears 75 W Route 59 Nanuet NY
- Sears 600 Lee Blvd Yorktown Hts NY
- Sears 5320 Youngstown Road Niles OH
- Sears 3201 W Main Street Norman OK
- Sears 6929 S Memorial Drive Tulsa Woodland Hls OK
- Sears 827 Lancaster Drive Ne Salem (Lancaster) OR
- Sears 9800 Sw Washington Square Road Washington Sq OR
- Sears 100 Neshaminy Mall Bensalem/Crnwls Hts PA
- Sears 5522 Shaffer Rd Ste 129 Dubois PA
- Sears 2300 E Lincoln Hwy Langhrn/Oxford Vly PA
- Sears 2100 Hamilton Place Blvd Chattanooga TN
- Sears 2801 Wilma Rudolph Blvd Clarksville TN
- Sears 2800 N Germantown Prkway Cordova TN
- Sears 7600H Kingston Pike West Town TN
- Sears 1000 E 41 Street Austin TX
- Sears 2901 S Capitol Of Texas Hwy Austin/Barton Creek TX
- Sears 2605 Preston Road Frisco TX
- Sears 2002 S Expy 83 Harlingen TX
- Sears 6301 Nw Loop 410 San Antonio TX
- Sears 2501 Irving Mall Irving TX
- Sears 6002 Slide Road Lubbock TX
- Sears 3450 W Camp Wisdom Road Southwest Ctr TX
- Sears 7508 N Navarro Street Victoria TX
- Sears 100 Newmarket Fair Mall Hampton VA
- Sears 3500 S Meridian Puyallup WA
- Sears 9520 Mall Road Westover/Morgantown WV
- Sears 701 Se Wyoming Blvd Casper WV
Previously announced store closures
Lowe’s – 51 stores in the U.S. and Canada
Lowe’s is closing 51 of its home improvement warehouses in the U.S. and Canada.
According to a news release, 20 of the underperforming stores are in the United States and most are located within 10 miles of another Lowe’s store.
Many associates will be given the opportunity to transfer to other locations, the company said.
“While decisions that impact our associates are never easy, the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” said Marvin R. Ellison, Lowe’s president and CEO. “We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe’s stores.”
Lowe’s expects to close the impacted stores by February 1, 2019. Here’s a list of the Lowe’s stores that are closing in the United States:
Lowe’s of Graysville, AL (Store #3039)
1100 Bankhead Hwy SW
Graysville, AL 35073
Lowe’s of Aliso Viejo, CA (Store #1900)
26501 Aliso Creek Rd
Aliso Viejo, CA 92656
Lowe’s of Irvine, CA (Store #769)
13300 Jamboree Rd
Irvine, CA 92602
Lowe’s of South San Francisco, CA (Store #2452)
720 Dubuque Ave
South San Francisco, CA 94080
Lowe’s of Central San Jose, CA (Store 2842)
750 Newhall Dr
San Jose, CA 95110
Lowe’s of Orange, CT (Store #621)
48 Boston Post Rd
Orange, CT 06477
Lowe’s of Granite City, IL (Store #3028)
1333 Schaefer Rd
Granite City, IL 62040
Lowe’s of Gurnee, IL (Store #1829)
7735 Grand Ave
Gurnee, IL 60031
Lowe’s of Portage, IN (Store #1778)
6221 US Hwy 6
Portage, IN 46368
Lowe’s of E. New Orleans, LA (Store #2690)
5770 Read Blvd
New Orleans, LA 70127
Lowe’s of Quincy, MA (Store #2267)
599 Thomas Burgin Pkwy
Quincy, MA 02169
Lowe’s of Burton, MI (Store #761)
4274 E Court St
Burton, MI 48509
Lowe’s of Flint, MI (Store #669)
2100 T.A. Mansour Blvd
Flint, MI 48532
Lowe’s of Mankato, MN (Store #2855)
2015 Bassett Dr
Mankato, MN 56001
Lowe’s of Bridgeton, MO (Store #2299)
11974 Paul Mayer Ave
Bridgeton, MO 63044
Lowe’s of Florissant, MO (Store #748)
3180 N Hwy 67
Florissant, MO 63033
Lowe’s of Manhattan – Upper West Side (Store #3292)
New York, NY 10023
Lowe’s of Manhattan – Chelsea (Store #3293)
635-641 6th Ave
New York, NY 10011
Lowe’s of Shippensburg, PA (Store #2816)
250 South Conestoga Dr
Shippensburg, PA 17257
Lowe’s of Irving, TX (Store #1811)
3500 W Airport Fwy
Irving, TX 75062
Mattress Firm – Up to 700 stores
Mattress Firm has filed for Chapter 11 bankruptcy and plans to close up to 700 stores as part of its restructuring.
The company announced on October 5 that about 200 stores are expected to close in the next few days, and decisions about additional store closings will be made over the next few weeks.
“The process we have initiated today will allow us to strengthen our balance sheet and accelerate the optimization of our store portfolio. Leading up to the holiday shopping season, we will exit up to 700 stores in certain markets where we have too many locations in close proximity to each other,” said Steve Stagner, Executive Chairman, President and CEO of Mattress Firm. “We intend to use the additional liquidity from these actions to improve our product offering, provide greater value to our customers, open new stores in new markets, and strategically expand in existing markets where we see the greatest opportunities to serve our customers.”
During the restructuring process, Mattress Firm will continue to serve customers at its stores and online. The company anticipates that deliveries will be made as scheduled.
You can read more about the changes at www.mattressfirm.com/restructuring.
Victoria’s Secret – 20 stores
Some malls across the country will be losing their Victoria’s Secret stores.
During a recent investor call, company executives said Victoria’s Secret will shut down about 20 of its roughly 1,000 North America locations and open about three this year.
Victoria’s Secret is part of L Brands, which also includes PINK and Bath & Body Works.
On that investor call, L Brands announced a slight drop in same-store sales and the retirement of Denise Landman, CEO of Victoria’s Secret PINK. Leaders said they were “very focused” on improving performance at Victoria’s Secret.
Although no list of the closing stores was released, executives said decisions about the store portfolio are made based on performance.
Orchard Supply Hardware – 99 stores
Lowe’s has announced that it’s shutting down all 99 of the Orchard Supply Hardware stores that it owns.
According to a news release, Lowe’s says it’s closing the Orchard stores, which are in California, Oregon and Florida, to focus on its core home improvement business.
Along with the stores, a distribution facility that services them will be gone by the end of fiscal 2018.
“While it was a necessary business decision to exit Orchard Supply Hardware, decisions that impact our people are never easy. We will be providing outplacement services for impacted associates, and they will be given priority status if they choose to apply for other Lowe’s positions,” said Lowe’s president and CEO Marvin Ellison, formerly of J.C. Penney.
In addition to closing Orchard Supply Hardware stores, changes are coming to Lowe’s. The retailer will be aggressively rationalizing its store inventory by reducing lower-performing items.
These moves are taking place to help Lowe’s better compete with Home Depot.
Brookstone – 102 stores
The seller of massage chairs, neck massagers and other travel items said it would close 102 of its mall stores. Meanwhile, an additional 35 airport-based locations will be put up for sale because they continue to meet revenue goals.
The Fresh Market – 15 stores
The Fresh Market recently announced that it plans to close 15 stores in Georgia, Illinois, Indiana, Kentucky, North Carolina, New Hampshire, Tennessee, Virginia and Wisconsin.
This comes after the company completed an organizational analysis, which focused on the retailer’s overall growth strategy and long-term financial performance.
The Fresh Market said on July 10 that the impacted stores below will close in two to four weeks:
- Snellville, GA
- North Druid Hills, GA
- Peoria, IL
- Normal, IL
- Glen Ellyn, IL
- Lincolnshire, IL
- Fishers, IN
- Louisville, KY
- North Charlotte, NC
- Bedford, NH
- Hendersonville, TN
- Winchester, VA
- Charlottesville, VA
- Brookfield, WI
- Fox Point, WI
“Over the last eight months, our company has been executing a turnaround plan and we’ve seen great progress,” said Larry Appel, CEO of The Fresh Market. “However, for a variety of reasons unique to each retail location, that progress is not evenly distributed and, as a result, we have decided to close these long-term, underperforming stores.”
The company said it doesn’t expect any further store closures in the foreseeable future.
Chipotle – 65 stores
Chipotle Mexican Grill is closing up to 65 underperforming restaurants this year, many of them in the next 30 days.
No list of the locations was provided, but USA Today reported in late June that the affected restaurants have been open between two and 15 years. Read more here.
Chipotle says it plans to focus on revamping its marketing strategy, growing digital sales and launching a new loyalty program in 2019.
Toys R Us – 735 stores
It’s a sad day for Toys R Us kids across the country.
The iconic Wayne, New Jersey-based toy retailer is closing all of its 735 stores by June 29. Liquidation sales have been taking place at Toys R Us and Babies R Us locations nationwide since March 23.
Toys R Us is counting down the final days on its social media pages, though many stores may already shut their doors.
Liquidation discounts have been up to 70% off, according to the retailer’s Twitter page. Let us know in the comments below if you’ve found any great deals!
— James H. Lucas (@Bcnubooks) June 17, 2018
Starbucks – 150 stores closing in 2019
Your corner Starbucks may be closing its doors next year. The coffee chain announced in June 2018 that it plans to shut down about 150 underperforming company-operated stores in the 2019 fiscal year.
The optimization of its U.S. store portfolio will concentrate on densely penetrated markets, Starbucks said in a news release:
“Starbucks is optimizing its U.S. store portfolio at a more rapid pace in FY19, including shifting new company-operated store growth to underpenetrated markets, slowing licensed store growth, and increasing the closure of underperforming company-operated stores in its most densely penetrated markets to approximately 150 in FY19 from a historical average of up to 50 annually. In FY19, this will result in a slightly lower growth rate in net new company-operated stores.”
H&R Block – 400 locations
It’s the first retail casualty of the new tax law. Amid a shifting tax preparation landscape, H&R Block has announced plans to close some 400 stores as more customers go online for tax prep and the new tax law makes your return a little less complicated.
Fortunately, no employees are expected to lose their jobs, as they will likely shift to other locations. The store closures represent just 4% of H&R Block’s nearly 10,000 company-owned and franchise locations.
“We aren’t as relevant as we need to be to today’s consumer,” CEO Jeff Jones said of the news during an earnings conference call.
Kroger – 14 stores
However, on a brighter note, at least eight of the stores will be bought by Harris Teeter — a wholly owned subsidiary of The Kroger Co. that’s native to the Tar Heel State.
Lord & Taylor – Up to 10 stores
Your local Lord & Taylor may be closing soon. Hudson’s Bay, the department store chain’s owner, plans to shut down up to 10 of its 48 Lord & Taylor stores nationwide through 2019, including its iconic New York City Fifth Avenue location.
The retailer says an increased focus on digital, new leadership and an optimized store footprint will help reduce costs and improve the brand’s overall performance.
HBC’s CEO Helena Foulkes elaborated in a news release:
“We are also taking action to reposition Lord & Taylor for improved results and increased profitability. With a new leader dedicated to evolving our experience and merchandise assortment to best meet customer expectations and shopping preferences, we will take advantage of having a smaller footprint to rethink the model and focus on our digital opportunities. The Lord & Taylor flagship on Walmart.com, which launched last week, is a great example of this and represents how we are thinking about the entire business.”
Subway – 500 restaurants
The company has faced competition from McDonald’s, supermarkets and even gas stations. It’s reportedly struggling to increase sales in the U.S. as new options emerge.
There are still more than 25,000 Subway locations across the country.
Bon-Ton – 256 stores
The Bon-Ton Stores Inc., a department store chain, announced in mid-April that it’s going out of business.
The store has been an icon of retail since 1854 with 256 locations today in operation throughout 23 states in the Midwest, Northeast and upper Great Plains.
Bon-Ton also owns six other nameplates: Boston Store, Younkers, Bergner’s, Carson’s, Elder-Beerman and Herberger’s.
The liquidation process in all Bon-Ton stores began on April 20 and is expected to run for approximately 10 to 12 weeks. Customers can learn more at bontonrestructuring.com.
GNC – 200 stores
Vitamin retailer GNC is shutting down about 200 stores in 2018. The company said efforts toward favorable lease renegotiations or relocation opportunities are ongoing and may impact the number of closings.
J. Crew – 20 stores
J.Crew Group announced in March that it plans to close 20 stores in 2018. It shut down 50 stores during fiscal 2017.
The retailer says it’s seeing results in its most important business — women’s apparel — but the company is only in the beginning stages of evolving the J.Crew brand.
In the fourth quarter of 2017, J.Crew sales decreased 4% and Madewell sales rose 32%.
Abercrombie & Fitch – 60 stores
Abercrombie & Fitch isn’t finished shrinking its retail footprint. The teen apparel company said it plans to close about 60 stores in the U.S. during the fiscal year as leases expire.
CNBC reports that Abercrombie has been trimming its store count in malls because more people are buying clothes online.
Foot Locker – 110 stores
Your favorite shoe store may be closing soon — Foot Locker is shutting down 110 stores in 2018.
During a recent earnings call, Foot Locker executives said the retailer is continuing to close underperforming stores. The company has struggled with declining foot traffic at malls and the shift to e-commerce.
Foot Locker reported a net loss of $49 million in the fourth quarter and comparable-store sales fell 3.7%.
Best Buy cell phone stores – 250 stores
The small-format stores will close May 31, but the retailer will continue to sell cell phones at its 1,000 U.S. big box stores and online.
J.C. Penney – 8 stores
Around 670 jobs will be cut with the closing of the distribution center in Wauwatosa, Wisconsin, this summer.
Meanwhile, around 480 employees will be affected by the eight stores that are closing, which follows a post-holiday review. The locations will be shut down between now and May, according to CNBC.
Here’s a list of the affected stores:
- St. Louis, Missouri
- Paramus, New Jersey
- Galesburg, Illinois
- Alexandria, Minnesota
- Bartlesville, Oklahoma
- Burlington, Washington
- Calexico, California
- Mt. Vernon, Ohio
J.C. Penney still operates approximately 875 stores nationwide.
Sam’s Club – 63 stores
Bad news for Sam’s Club members! The Walmart-owned warehouse club has abruptly shut down multiple locations across the country, according to local media reports.
The retailer has confirmed that 63 clubs are closing and up to 12 of them will be converted to e-commerce fulfillment centers.
“Transforming our business means managing our real estate portfolio and Walmart needs a strong fleet of Sam’s Clubs that are fit for the future,” said John Furner, president and CEO of Sam’s Club. “We know this is difficult news for our associates and we are working to place as many of them as possible at nearby locations. Our focus today has been on those associates and their communities, and communicating with them.”
Walmart said the impacted clubs will close over the next few weeks, leaving 597 Sam’s Club locations.
Several people have used Twitter to ask for an official list of the stores that are going away. Sam’s Club has replied by directing them to the store locator tool on SamsClub.com.
Macy’s – 11 stores
Nearly a dozen Macy’s department stores will soon be closing their doors forever.
Macy’s intends to close an additional 19 stores as leases or operating covenants expire or sale transactions are completed.
The following Macy’s stores will be closing in early 2018. In most cases, clearance sales will begin on January 8, 2018, and run for approximately 8 to 12 weeks.
- Laguna Hills Mall, Laguna Hills, CA
- Westside Pavilion, Los Angeles, CA
- Novato (Furniture), Novato, CA
- Stonestown Galleria, San Francisco, CA
- The Oaks, Gainesville, FL
- Miami (Downtown), Miami, FL
- Magic Valley Mall, Twin Falls, ID
- Honey Creek Mall, Terre Haute, IN
- Birchwood Mall, Fort Gratiot Township, MI
- Fountain Place, Cincinnati, OH
- Burlington Town Center, Burlington, VT
Gap and Banana Republic – 200 stores
Gap Inc. plans to close 200 Gap and Banana Republic locations over the next three years, the company announced in September 2017. No list of the stores was released, but they’re all “underperforming.”
Teavana – 379 stores
Many of the 379 Teavana stores, which are primarily mall-based, have been underperforming. Starbucks said it tried to improve sales through creative merchandising and new store designs, but it just wasn’t working.
Ascena Retail Group – At least 268 stores
In June 2017, company executives announced that 667 stores are part of its fleet optimization program.
At least 268 of those stores will definitely be closed by July 2019. The remaining 399 stores will be shut down if rent concessions aren’t obtained through negotiations with landlords.
The company didn’t specify which locations will be closed.
Michael Kors – 100 to 125 stores
Michael Kors is closing between 100 and 125 of its retail stores over the next two years.
According to a May 2017 news release, the company is making the move to improve the profitability of its store fleet. No list of the affected stores was released.
Clark’s key takeaway
If you happen to receive a gift card for any of the retailers on this list, money expert Clark Howard wants you to spend it right away in case your local store is on the chopping block.
“If you have any gift cards for major retailers, I want you to go and shop. I want you to use them up,” Clark said.