Macy’s announced it would be closing 35-40 underperforming brick and mortar retail stores in the 2016 calendar year, making room to open its discount stores. Other retailers also announced plans to close doors in 2016, including Office Depot, Walgreens, The Gap and Barnes & Noble.
While retailers are usually reluctant to announce store closures because of the uncertainty it can create with investors and analysts, it also can be viewed favorably as a company’s ability to change quickly in such a competitive retail environment.
Retailers who have announce the highest number of store closures include: Office Depot/Office Max (400 closures), Barnes & Noble (223), Children’s Place (200), Walgreens (200), Aeropostale (175), American Eagle (150), Chico’s (120) and Pier One (60).
Source: about money.com
Related posts
