Story perspectives

2025 Sees 15,000 U.S. Store Closures Amid Retail Shift

1/24/2025

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Summary

Retailer Closures Surge

Coresight Research forecasts 15,000 U.S. store closures in 2025, up from 7,325 in 2024.
Store openings will remain stable at approximately 5,800, leading to a net loss of over 9,000 stores.
Key factors for closures include inflation, a shift to online shopping, and retailers' adaptation challenges.
Notable closures include Party City, Big Lots, and Macy's, with over 2,000 already planned for 2025.

Summary

Pharmacies Face Closures

Walgreens will close 1,200 stores by 2025, including 500 in fiscal year 2025, due to financial losses.
CVS plans to shut down 900 stores over three years, prioritizing health care services amid operational challenges.
Rite Aid's bankruptcy results in over 800 store closures, driven by debt and restructuring efforts.
Peavey Mart will close 22 locations in Ontario and Nova Scotia by April 2025, citing underperformance.
The retail pharmacy landscape is changing, raising concerns about health care access in underserved areas.

History

Historical Context

The forecasted 15,000 U.S. store closures in 2025 echo the "retail apocalypse" trend that began post-2008 financial crisis. Many retailers struggled to adapt, leading to significant bankruptcies and closures. This ongoing shift to online shopping, accelerated by the pandemic, mirrors historical retail transformations during economic downturns.

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Retailer Closures Surge

Coresight Research forecasts 15,000 U.S. store closures in 2025, up from 7,325 in 2024.
Store openings will remain stable at approximately 5,800, leading to a net loss of over 9,000 stores.
Key factors for closures include inflation, a shift to online shopping, and retailers' adaptation challenges.
Notable closures include Party City, Big Lots, and Macy's, with over 2,000 already planned for 2025.

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