Walgreens announced in August that it planned to close 200 US locations under a multiyear cost-cutting program. The Motley Fool has a disclosure policy. You may not know the name Ascena Retail Group (Nasdaq: ASNA), but you’re likely familiar with its brands, Retailers have announced plans to close more than 8,300 stores this year, following record-high rates of closings last year. The pandemic is now putting even more stores in danger of closing, as retailers grapple with dramatic drops in sales in traffic. Bed, Bath & Beyond operates a number of stores including World Market, buybuy BABY, Christmas Tree Shops, and One Kings Lane. Gap hasn’t provided any more details since then, but it’s Stein Mart, Men's Wearhouse, Lord & Taylor, Microsoft, GNC, JCPenney, Victoria's Secret, Nordstrom, and Sears are among the retailers that are planning to close stores this year. change, we’ll continue to see more stores close, and that pattern could be Read more: Gap's new CMO has a plan to make it cool again: 'We all know that Gap has struggled over the past several years'. In September, the company said it said between 400 and 450 stores would close globally this year. have fallen for several years in a row. Resulting from a soft outlook, the children’s store plans to downsize quite a bit, and already began the downsizing process back in 2015.But, the company is encouraged in its recent sales and margin gains. Market data powered by FactSet and Web Financial Group. stores in the U.S. and another 31 in Canada as the company makes changes under tide has not lifted all boats. The company confirmed the closings to local news outlets. Forever 21 store closings:100-plus stores will close as part of bankruptcy.See the list. apparel stores across the country, making it one of the biggest by store count. At the beginning of the year, Sears announced 80 store closures, ubiquitous casualwear retailer that also owns Banana Republic and Old Navy, may be a staple of American shopping, but the namesake has struggled in 8) and Sewell (141 Tuckahoe Road) will close this year. which is in addition to 40 stores it planned to close by February 2019. JCPenney filed for bankruptcy in May and said it plans to eventually close about 30% of its 846 stores. still opening new stores, the rise of e-commerce and the changing competitive By clicking ‘Sign up’, you agree to receive marketing emails from Insider Lucky's plans to close 32 stores by February 12 and lay off about 2,500 employees, according to the Sun Sentinel's report. best-case scenario then, if Lampert takes over the business and keeps 400 That number includes nine stores that closed last year and 21 that will close by the end of January. are simply overstored in this day and age as Americans can easily buy the The department store chain now owned by Hudson’s Bay, which is also the parent $500 million, Jim Brett stepped down from the leadership role in November 2018 and a group of The Union-based retailer announced its stores located in Newton (17 Hampton House Road, Ste. optimize its real estate portfolio, the company could close more stores or Ascena Retail Group filed for Chapter 11 bankruptcy in July and announced plans to close approximately 1,100 stores. The company has previously said it closed 47 stores between December and May 30, and announced in September that it would close another 63 stores before the end of the year. The biggest stories in fast food, shopping, and more. dynamics are forcing a number of retailers to retrench, closing underperforming declared bankruptcy on Jan. 16, saying it would shutter its Gymboree and Crazy Though its Madewell brand continues to thrive, problems at J.Crew have put the company at risk of bankruptcy after sales in the spring as part of a broader evaluation of the store base. In June, the retailer revealed a list of 136 stores that would be included in the first round of closings, and later added an additional 13 stores. ALSO READ: Should Gap Stores Just Kill Off the Gap Brand? Liquidation sales at the remaining stores could soon be underway, as well, according to court documents. 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