Story perspectives

Retail Crisis: Thousands of Store Closures Loom in 2025

3/15/2025

50 12

Summary

Retailers Closing Stores

Major U.S. retailers, including Macy's and Party City, are shutting down stores amid economic pressures and online competition.
Party City has filed for bankruptcy twice, resulting in the closure of all its locations, while Joann plans to close 800 stores, impacting 19,000 jobs.
Macy's is closing 66 underperforming stores to concentrate on 350 profitable locations.
Coresight Research forecasts up to 15,000 store closures in 2025, a significant increase from last year.

Summary

Dollar General Restructures

Dollar General will close 141 underperforming stores, including 96 Dollar General and 45 pOpshelf locations.
Six pOpshelf stores will be converted into Dollar General outlets as part of the restructuring.
The company plans to open 575 new stores in 2025, enhancing in-store experiences and delivery.
CEO Todd Vasos highlighted challenges in operating stores in urban areas.
Despite a 4.5% revenue increase in Q4 2024, net income dropped 52.4% due to economic pressures.

History

Historical Context

The current wave of retail closures mirrors the "retail apocalypse" that began in the late 2000s, when online shopping surged. Major chains like Sears and JCPenney faced similar fates, closing hundreds of stores due to economic pressures and changing consumer habits, setting the stage for today's crisis.

1 of 3

Retailers Closing Stores

Major U.S. retailers, including Macy's and Party City, are shutting down stores amid economic pressures and online competition.
Party City has filed for bankruptcy twice, resulting in the closure of all its locations, while Joann plans to close 800 stores, impacting 19,000 jobs.
Macy's is closing 66 underperforming stores to concentrate on 350 profitable locations.
Coresight Research forecasts up to 15,000 store closures in 2025, a significant increase from last year.

1 / 3