Major Retailers Closing 1000s of Stores in 2018

November 29, 2017Nov 29, 2017

The world of online shopping has overtaken the need for traditional retail stores across numerous industries in America. Now, many big retailers have announced they are closing tons of stores in 2018.

Some of the biggest names for consumers are Sears and Kmart. Sears Holdings recently announced they will be closing 63 locations in the coming year. The news also comes after they closed other locations in 2017.

J. Crew, the famous fashion retailer, is also closing down some of their stores in 2018. After they saw a 12% drop in sales during their third quarter, J. Crew decided to close 50 locations in the upcoming year.

Macy's has also announced they will be closing 30 stores nationwide. The news comes after Macy's closed 68 stores in 2017. Also, Gap and Banana Republic are closing 200 stores.

Teavana also announced they are permanently shutting down 379 stores. Starbucks decided to also close every single Teavana retail location. Michael Kors also announced they are closing over 100 locations. Ascena Retail group is closing 268 stores.

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