American retailers already announced 6,000 store closures this year. That's more than all of last year.
This year, US retailers have announced that 5,994 stores will close. That number already exceeds last year's total of 5,864 closure announcements, according to a recent report from Coresight Research.Bankruptcies in the retail sector are piling up and chains have aggressively closed under-performing stores. That has led to an uptick in store closures this year.
And department stores such as Nordstrom , Kohl's and Macy's are shuttering a few stores each.Thousands more store closings could be on the way in the coming years as online shopping replaces purchases at physical stores. "The flood of store closures will likely continue for quite some time," said Coresight Research CEO Deborah Weinswig. Hundreds of old Sears stores are empty.
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