FILE – Shoppers outside Macy’s flagship store in the Herald Square neighborhood in New York City on Thursday, Aug. 29, 2024. (Jeenah Moon/Bloomberg via Getty Images)
Big retailers will close stores starting next year due to changes in the industry and changing consumer spending habits.
These store chains plan to close multiple stores across the country in 2025. Here’s what you need to know:
Which stores will close in 2025?
Macy’s
Macy’s is expected to close 65 stores by the end of 2024. Macy’s announces closure plans The company plans to expand the number of “low productivity” stores in the U.S. to about 150 by 2026 (including 50 stores this year).
Related: Here are the major retailers closing U.S. stores in 2024:
walmart
According to reports, six Walmart stores will close by 2024. pair of the store california and located in Maryland.
One Walmart store in Ohio closes And one more thing Two San Diego stores closed The company said it did not meet expectations for financial performance.
The retail giant also Build or convert over 150 stores over the next five years.
walgreens
Walgreens has announced 1,200 store closures, with 500 stores expected to close in fiscal year 2025, bringing the total number of store closures to 1,200 by the end of 2027.
starbucks
Starbucks plans to close several stores in 2025 in an effort to optimize operations.
dollar tree
Dollar Tree plans to close some underperforming stores in 2025.
office depot
Office Depot has been shrinking for years, and more stores will close in 2025. The shift to remote work and digital offices has reduced demand for office supplies.
party city
Party City is closing for good after 40 years. The company has more than 700 company-owned and franchised stores As of late October, FOX Business reported, citing the company’s press release.
Related: Party City closes after 40 years of operation
foot locker
Foot Locker announces plans to close in 2023 Eliminate more than 400 low-profit stores in shopping malls by 2026.
The company also said it will focus on higher-performing locations and new concept stores outside of malls that target niche consumers such as sneakerheads, children and high-income shoppers.
As of 2023, there were approximately 1,300 Foot Locker stores in malls across North America. Foot Locker said it expects to close 25% of its stores in A- and B-rated malls and 50% of its stores in C- and D-rated malls. Mall valuations reflect sales per square foot.
CVS
Pharmacy giant CVS has already announced plans to close hundreds of stores over the next few years. As the company focuses on expanding its healthcare services, by 2025 it will be closing down areas with overlapping locations and low foot traffic.
sears
Sears will continue to close in 2025, leaving only a few stores remaining, primarily in high-priced areas.
game stop
Despite efforts to transform its business model, GameStop continues to struggle. Many stores in small towns and declining malls are scheduled to close in 2025. The company has launched plans to sell retro game consoles and games, and is shifting its in-store product lineup to focus on gaming products such as toys and shirts.
advanced auto parts
Advanced Auto Parts plans to close more than 700 locations by mid-2025. USA Today reported that the auto parts supplier plans to introduce a new three-year financial plan to turn around its struggling business.
