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article imageThousands of American retail stores closing in the United States

By Jeannie Stokowski-Bisanti     Mar 12, 2014 in Business
Retail experts are projecting that the pace of store closings will accelerate over the course of the next decade. Just last week American retail chain Radio Shack announced that it was going to close more than 1,000 stores.
The American chain Staples also announced that it was going to close 225 stores.
Same-store sales at Office Depot have declined for 13 quarters in a row and J.C. Penney has recently announced plans to close 33 more stores. During the second quarter of 2013 alone, J.C. Penney lost $586 million.
Sears has closed about 300 stores since 2010, and CNN reported that Sears is “expected to shutter another 500 Sears and Kmart locations soon.” Sales numbers have declined at Sears for 27 quarters in a row.
It is being projected that Aéropostale will close about 175 stores over the next couple of years and Macy’s has announced that it is going to be closing five stores and eliminating 2,500 jobs.
The Children’s Place has announced that it will be closing down 125 of its “weakest” stores by 2016 and Best Buy recently closed about 50 stores up in Canada. Video rental chain Blockbuster has completely shut down all of their stores.
A Midwest home appliance chain known as “American TV” is going to be shutting down all 11 stores.
More about Business, USA, American, Retail, Chains
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