Special Report

Retailers Closing the Most Stores

Source: BrokenSphere / Wikimedia Commons

21. J. C. Penney
> Closings: 7
> Total stores: 872
> Industry: Department stores

Few brick-and-mortar retailers are being hit as hard by the surge of e-commerce as department stores. This year, J. C. Penney is expecting to close seven of its store locations and one distribution center in Milwaukee. These seven location closings pale in comparison to last year, when the retailer shuttered 141 locations.

Source: Mike Kalasnik from Fort Mill, USA / Wikimedia Commons

20. Macy’s
> Closings: 11
> Total stores: 852
> Industry: Department stores

Macy’s Inc. is the company behind a the iconic department store chain of the same name as well as Bluemercury beauty specialty stores. In August 2016, the company announced plans to shutter 100 underperforming locations in the coming years amid falling sales. While the retailer already closed the majority of those stores, the company anticipates 11 will close this year.

Hurt by e-commerce, Macy’s reported $24.8 billion in revenue in fiscal 2018, nearly $1 billion less than the previous year’s figure and over $2 billion less than fiscal 2016’s revenue total.

Source: John Phelan / Wikimedia Commons

19. J. Crew
> Closings: 20
> Total stores: 532 (United States)
> Industry: Apparel

American retailer J. Crew announced in March it had closed 51 stores during its fiscal 2017 year, 40 of which in the final quarter of the year. In the same release, the company also announced plans to shutter an additional 20 stores during the 2018 fiscal year. The closures would bring the total number of J. Crew locations to 523, down from 571 as of the end of the first quarter of 2017.

Source: designs by Jack / Shutterstock.com

18. Sears
> Closings: 39
> Total stores: 570 (United States)
> Industry: Department stores

Sears Holdings Corp. is the parent company of two troubled department store brands: Sears and Kmart. There were 570 Sears locations nationwide at the end of 2017, though that number will soon drop. The company announced in early January plans to close some 39 Sears department stores in the first half of 2018. The company did not say how many employees the closings would affect.

In the last three years, Sears Holdings revenue fell by about a third, from $25.1 billion in 2016 to $16.7 billion in 2018.

Source: jetcityimage / Getty Images

17. Abercrombie & Fitch
> Closings: 60
> Total stores: 679 (United States)
> Industry: Apparel

Abercrombie & Fitch Co. is the parent company of both the Abercrombie and Hollister clothing brands. The company announced at the end of its fiscal 2017 it would be closing a total of 60 U.S. locations in fiscal 2018 as these locations’ leases expire. The closings come despite a 4% increase in the company’s domestic sales in fiscal 2017 compared to the previous year.

The store closures will be partially offset by 11 new U.S. locations as well as 10 new locations abroad the company plans to open in 2018.

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