Summary
Several major clothing and department stores in the U.S. plan to shut down many of their locations in 2025. These closures are due to high costs, competition from online shopping, and changes in customer shopping habits.
Key Facts
- Macy's will close 66 stores in 2025 as part of a three-year plan.
- An estimated 15,000 retail stores may close across the U.S. in 2025.
- Rising costs, online competition, and changing shopper habits are key reasons for these shutdowns.
- Forever 21 filed for bankruptcy and plans to close its 354 U.S. stores.
- Joann Fabrics is closing around 500 stores, following a second bankruptcy filing.
- Torrid will close up to 180 of its underperforming stores.
- Claire’s is closing over 291 stores as part of bankruptcy proceedings.
- Kohl’s plans to close 27 underperforming stores by April 2025.
- Big Lots will close 545 stores to address its debt and sales drop.
