3,400+ US retail stores, including CVS and Macy's, are closing due to inflation and lower demand, with a 22% increase from last year.
Major US retail chains like CVS and Macy's are closing thousands of brick-and-mortar stores due to inflation and lower demand, with over 3,400 stores predicted to close this year, a 22% increase from last year. Inflation and minimum wage laws are cited as key factors causing closures. The top retailers closing stores include Family Dollar (over 600 stores), rue21, 99 Cents Only Stores, and 7-11.
June 23, 2024
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