It seems nowhere has been hit harder by the decline in physical shopping than Payless. The shoe retailer has suffered a lot from the rise in online sales, with over 2,500 of their stores closing forever this year.
It’s speculated that the shops will be no more come May as the retailer attempts to shift as much merchandise as possible through liquidation sales. Despite once being a premier seller for shoes, Payless has struggled to maintain its success in more recent years.
Gymboree hasn’t had the best time of things in the last few years. Back in 2017, the retailer filed for bankruptcy, resulting in the closure of several of their stores. Although they hoped things would pick up again, it seems the opposite has happened.
Their popularity has continually declined, resulting in Gymboree filing for bankruptcy once again in January. Around 800 of their stores will close their doors forever in 2019, with online sales already halted. People will have to buy their children’s clothes elsewhere.
Another retailer that’s giving up the ghost is women’s clothing outlet Charlotte Russe. The rise of internet shopping has hit them hard, and even though you can buy things from their online store, it hasn’t been enough to save them.
By the end of April, all shops under the Charlotte Russe name will close, forcing more than 500 locations to go out of business. The retailer is hurrying to get rid of as much stock as possible through liquidation sales before the impending deadline.
You’d think that stores selling stuff for $1 would always be popular. After all, they offer stock that’s affordable for everyone, no matter their financial situation. However, it seems it might be hard to make a profit when people are only ever spending $1 per item.
Family Dollar is struggling so much that they’re being forced to close up to 390 stores this year to try and stop themselves from hemorrhaging money. For the 200 shops that remain open, they’ll be rebranded with another name.
In the wake of financial troubles, Shopko did everything they could to stay afloat. Unfortunately, there was no silver lining for this Wisconsin-based retailer come 2019 as they were forced to shut down for good.
They’d already resigned themselves to closing around 70% of their stores by May, but even that wasn’t enough to help them out. After filing for bankruptcy in January, they tried and failed to find themselves a buyer. That means by the end of summer, Shopko will be no more.
Not every retailer is closing its doors forever this year, but some are seeing a severe drop in their available stores. For instance, Gap isn’t going anywhere just yet, although it is about to lose half of its shops.
More than 200 stores will be shut down around the world as the company tries to alleviate their financial burden. The company behind Gap will also attempt to recuperate their losses by turning Old Navy into its own shop, but is it too little too late?
Another major retailer that plans on taking a big hit over the coming year is H&M. The store’s popularity has taken a significant hit recently, particularly in America. That’s why 160 locations will be shut down by the end of 2019, with hopes that they won’t have to abandon any more stores.
Things are a little brighter outside of the United States where H&M receives more favor, though. It’s apparently doing so well elsewhere that the company will introduce another 355 new stores.
The Children’s Place
The Children’s Place is well aware it’s currently in a precarious situation. That’s why they’re putting a lot of effort into their online presence. The retailer is hopeful they can generate plenty of sales on the internet; otherwise, they’re in big trouble.
They’re in the process of closing down 300 stores, with almost 200 of them shut down by the end of 2018. Unless they want to go completely bust, The Children’s Place is going to need to pull something out of the bag.
If you’re a fan of cycling, you may want to reconsider where you shop for your gear. That’s because Performance Bicycle has had to close all their stores this year, with the final one shut down in March.
The bike retailer was forced to get rid of over 100 locations after they filed for bankruptcy back in 2018. Any hopes of selling the brand fell through, leaving Performance Bicycle with no choice but to say goodbye to their loyal customers. Another one bites the dust.
Between Sears and Kmart, Sears Holdings can ship a lot of different stock. Unfortunately, their sales haven’t exactly been through the roof recently, forcing the company to make some adjustments.
The biggest of these is the closure of almost 100 different stores across the United States, with Florida and Texas being most significantly hit. Over a dozen shops were shut down across these two states earlier this year, with the potential for more to go in the future if profits don’t start improving.
Most people have a home and garden, but they’re not buying all the things they need for them at Lowe’s. If they were, the retailer wouldn’t be struggling so much. 51 stores have already closed across the U.S. and Canada, thanks to the new management of Marvin R. Ellison, the CEO of J.C. Penney.
Aware that the company was struggling, Ellison gave the go-ahead to shut several dozen underperforming stores to try and lessen the financial burden. Let’s hope it works out.
Vera Bradley is attempting to improve its financial situation by moving away from traditional stores. Around half of its 110 shops are set to close for good over the next few years, with each of them closing down once their leases are up.
The company plans to infiltrate other retailers and have a space dedicated to their own stock. They believe it will save them money on operation costs while also giving them somewhere they can continue to sell their products.
Abercrombie & Fitch
In an attempt to recoup their losses, Abercrombie & Fitch are approaching 2019 with an intriguing plan. The company behind the clothing retailer has closed 40 of their stores this year, the majority of which were in the United States.
That’s more than the amount they shut down in 2018, although it’s not all doom and gloom. Despite closing 40 locations, Abercrombie & Fitch are apparently going to open just as many new ones. Doesn’t that defeat the purpose of closing the original stores?
Christopher & Banks
Although Christopher & Banks are planning to close some stores this year, the woman’s retailer isn’t actually doing bad for itself. Their online stock has been selling well, and there are expectations that they’ll actually score a profit by the end of 2019.
Unfortunately, the immense popularity of their internet store has meant their physical locations have underperformed. As a result, up to 40 of their stores will be closing down between now and 2020, with the potential for more if things go downhill.
Around the world, Victoria’s Secret has over 1,100 different stores. They’re one of the primary retailers for womenswear and lingerie, and they continue to be popular with their customers. However, while they might be doing well as a whole, that doesn’t mean none of their stores are underperforming.
In fact, around 50 of them are struggling to make a profit which is why they’ll be closing down for good in 2019. They follow the 30 stores that were also shut down a year ago.
The company behind Victoria’s Secret are also responsible for stores like Henri Bendel. At least, they were. Only a few months into 2019, the last of this designer retailer’s shops closed its doors, bringing an end to one of the company’s iconic brands.
Throughout its lifetime, Henri Bendel had only amassed several dozen stores, so it’s closure didn’t have a massive impact on the shopping landscape of the United States. However, it will still be sorely missed by those who used to buy from them.
There’s plenty of change coming for company Chico’s FAS, and most of it isn’t good. Across this year and the next one, several hundred of its stores will be closed down. Although it won’t send them out of business, it will be a big hit to a company that has built up several notable retail brands since their inception.
Stores for Chico’s, White House Black Market, and Soma will all be shut for good in 2019, although which locations these will be isn’t yet known.
For some retailers, the prospect of maintaining a physical store is just too much to handle these days. Competition from other shops was already hard to deal with before online sellers even became an issue.
That’s why companies like e.l.f. Cosmetics are forgoing physical locations entirely, instead opting to sell all their products on the internet. The last of their 22 stores was closed in March, with e.l.f. Cosmetics’ stock now available through their website or in other retailers.
J.C. Penney has been around for decades, so to see it go would be heartbreaking. Luckily, the retailer is still doing perfectly fine, although it’s had to make some sacrifices like everyone else. After it failed to attract enough sales last year, the company decided it would close the doors on 18 of its department stores in 2019.
This, combined with the loss of nine furniture shops, would mean that nearly 30 of their locations would be gone by the end of the year.
Things aren’t looking great for Z Gallerie right now. When business went south for the furniture retailer, they had no choice but to file for bankruptcy. They’re currently waiting to see if anyone will help them out of their predicament, but hopes aren’t high.
As Z Gallerie waits for its future to be determined, a fifth of its stores will be closed to try and alleviate the financial burden. 17 physical locations will shut down this year, although all 75 could be gone soon enough.
Destination Maternity is another retailer that believes it will benefit from closing its stores and improving its presence online. Somewhere in the region of 40-70 shops will disappear throughout 2019, giving the company less to worry about in terms of store expenses.
The hope is that they’ll be able to shift enough stock through the internet to keep themselves in business. If that’s not successful, they could always pull things back with the selection of smaller stores they’re planning on setting up at some point.
Being a primarily physical retailer is enough to put a company out of business these days. If you’re not selling stock online, you’re doing yourself absolutely no favors. Unfortunately for Beauty Brands, they realized that a little too late.
The retailer filed for bankruptcy at the start of 2019, citing their status as a predominantly physical seller as the main issue. Apparently, operation costs became more than they could handle when sales started to dwindle. They’ll lose 25 stores by the end of 2019.
While some of these retailers have failed to save themselves after filing for bankruptcy, Things Remembered is one of the rarities that’s managed to keep themselves afloat. Around 176 of their stores were rescued by Enesco LLC earlier this year, allowing them to continue personalizing gifts for their customers.
Of course, given they initially had stock across 450 stores, more than half of their physical locations were lost in the sale. That’s a huge hit, but it’s still better than losing everything though.
Sales are nothing like they used to be for Ascena Retail. The company, who’s responsible for retailers like Ann Taylor and Loft, has been in decline for several years now, and it’s put them in a very precarious position.
To avoid going bust, Ascena Retail has had to make some tough decisions, and that includes the closure of 667 stores. Most of these locations are expected to be gone before the end of the year, with the majority set to shut down over the summer.
It’s not just clothing and makeup stores that have suffered from the increasing popularity of online sales. Supermarkets have also faced their share of issues, especially as a lot of people now do their grocery shopping on the internet.
Southeastern Grocers has had to close around 22 of their stores already this year, with places like Winn-Dixie and Bi-Lo losing several of their locations. It’s a hard hit for the company that only recently lost 94 stores after crawling their way out of bankruptcy.
Lord & Taylor
Lord & Taylor is one of those retailers that’s been around for years, but history means nothing when it comes to shopping. That’s why, despite being established over 100 years ago, the company lost its flagship store back in 2018.
Unfortunately, Lord & Taylor’s downward trend has continued into this year, with another ten closures speculated for the coming months. It’s uncertain which shops will shut their doors for good, but the loss of more locations doesn’t bode well for this designer department store company.
Foot Locker has had to accept that it can’t keep all its stores open in this current climate, but that doesn’t mean the company is suffering. At the end of last year, the shoe retailer performed surprisingly well in sales, prompting it to make a big decision coming into 2019.
The company behind Foot Locker revealed that although they’d be losing 165 stores this year, those that remained would be enhanced. The intention was to improve existing stores to maintain interest and generate new sales.
The closure of several Macy’s stores has seemingly been in the works for years. It was announced that eight of the company’s department stores would shut down in 2019, with the closure spread out across states like New York, Indiana, and California.
The loss of eight locations isn’t a massive hit to the company, especially given it’s spread out across the whole of the United States. However, Macy’s can’t rest on their laurels if they don’t want this to be the start of their downfall.
J.Crew has been getting lots of attention recently for all the wrong reasons. They closed six of their stores at the start of 2019, a move that followed the loss of CEO James Brett. There were reportedly concerns about the way money was being spent, leading to the man stepping down amidst the retailer’s financial crisis.
Another 20 or so stores are expected to close over the coming months, although it could be more if money is as tight as we’re to believe.
While Kohl’s is indeed closing several stores this year, it’s apparently more of a preventative measure than anything else. The company is only shutting four locations in 2019 which have apparently failed to perform due to their proximity to malls.
To make up for the loss of stores, there will apparently be four brand new ones opened in the future, albeit smaller than the originals. Given how badly some retailers have been hit, it’s good to see that Kohl’s is still getting by just fine.
There was once a gag on The Simpsons that Starbucks was replacing all physical stores. It’s probably this willingness by the coffee shop to establish themselves in as many locations as possible that’s led to their downfall.
The brand might not be disappearing from our malls, but there will still be a lot fewer stores around than they’re used to be. 150 shops will be closing in 2019, which is roughly three times more than usually get shut down in a fiscal year.