Over 7,100 U.S. stores closed in 2024, a 69% jump from 2023, due to rising costs and changing shopping habits.

In 2024, over 7,100 U.S. stores closed, marking a 69% increase from the previous year. Factors like changes in shopping habits, supply chain issues, and rising costs contributed to these record-breaking closures. Among the top retailers with the most closures were Ashley Stewart, Bed Bath & Beyond, and Victoria's Secret. Despite the challenges, some retailers like Aldi expanded. Macy's also announced plans to close about 65 stores by the end of 2024, an accelerated closure plan due to business reorganization.

December 30, 2024
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