Special Report

Retailers Closing the Most Stores

Source: Mike Mozart / Flickr

12. GNC
> Closings: 100
> Total stores: 4,464
> Industry: Health and wellness products

As part of its One New GNC rebranding campaign, GNC is reducing prices on half of its products, introducing a new customer loyalty program, and expanding its generic product line. The company also plans to close approximately 100 of its less profitable stores in 2017. The rebranding campaign and store closure announcement come at a time of declining profitability for the health retailer. GNC reported a net loss of $286.3 million in 2016, down from a profit of $219.3 million the year before.

11. Macy’s
> Closings: 100
> Total stores: 730
> Industry: Department store

Macy’s, one of the nation’s oldest and most famous retailers, announced in August of last year its plans to close 100 stores, or 14% of its store count, by early 2017. Macy’s has already determined the locations of 68 of the 100 stores it plans to shutter. The majority of these will close by spring. Unlike a number of other retailers on this list, Macy’s does not appear to be at risk of bankruptcy, nor will its physical presence likely disappear any time soon. The company reported over $1 billion in net income in each of the last five fiscal years.

Source: Mike Kalasnik / Wikimedia Commons

10. Kmart
> Closings: 108
> Total stores: 801
> Industry: Department store

Sears Holdings Corporation announced in January 2017 its plans to shutter 42 Sears locations and 108 Kmart locations for a total of 150 store closings. The announcement is the latest in a series of closings that have reduced the total number of Kmart locations in the United States from 1,480 in 2004 — the year Sears Holdings Corporation purchased Kmart — to 801 today. Over the same period, sales at Kmart stores has fallen from $19.8 billion to less than $11 billion. Most analysts believe Sears Holdings Corporation is no longer viable and is unlikely to steer itself away from its current path toward bankruptcy.

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