These 5 retailers closed stores in 2024

Quick Summary:

In ‘a very difficult business,’ retail store closings typically signal more about an individual company than the industry overall, one analyst says.

The company also plans to close 30 of its namesake discount stores — about 1,000 locations overall.

As a full-line department store, Egelnanian said Macy’s is at a disadvantage because “their purpose has gone away.… There's no reason for a full line department store today,” Egelnanian said.“So all that's left is fashion department stores, and Macy's has not done a good job of transforming itself into a fashion department store, so that's why I don't expect them to survive.

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Article Details

Author / Journalist: Nate Delesline III

Category: EconomyBusiness

Markets: United States

Topics: Family Years Dollar Company Express Locations Store Retailer Retail Business Stores

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-27 @ 12:34:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 1493 words

Reading Time: 9 minutes read

Sentences: 64 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 24696620

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Main Topics: EconomyBusiness

Official Website: retaildive.com

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Headquarters: United States

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