As most retailers are gearing up for the summer holidays to drum up sales, there are a number of retail stores that are closing across the country this year. With over a dozen chain retailers declaring to be closing all over the nation, experts say that the total of individual retail store closings is over 2,100.
Out of all the retailers, Bed, Bath & Beyond has the most closings, with 896 declared permanent store closures. While the companies are not considering it an overt sign of a recession, some retailers are closing stores to avoid bankruptcy. Other retailers are examining how shoppers’ habits are changing, and others want to cut costs.
Home Good Retail Stores That Are Closing Across The Country
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The retailers with home goods that are expected to close completely or eliminate a number of their stores include Bath & Body Works, Walmart, Tuesday Morning, Best Buy, Party City, Big Lots, Amazon, Macy’s, JCPenny’s, and Target. While the latter stores are closing only a few, Bed, Bath & Beyond will be closing its doors indefinitely by June 30, according to Business Insider.
Bed, Bath & Beyond has been a troubled company for a while. The company reported that the pandemic crippled the brick-and-mortar store further. Despite the efforts to stay afloat, the company continued to dwindle, as it could not compete with other retailers.
Besides Bed, Bath & Beyond, another retailer that is closing all its doors is Tuesday Morning. The retailer, which is based in Dallas, Texas, has stores in the South and throughout the Northern region.
Bath & Body Works is also reconfiguring its physical store placements, closing most of the stores that are located in malls across the nation.
Additionally, Walmart has stated it’s closing stores that have poor performance. As a result, the big box retailer will be closing 20 stores across 11 states. Best Buy also plans on closing 20-30 large stores as it shifts the focus to smaller outlets, and Big Lots is closing its stores in urban areas to relocate to smaller towns and areas.
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