Gap, Victoria’s Secret, J.C. Penney, Tesla and Abercrombie & Fitch. What do these companies have in common? They’re all closing stores this year.
Already, 4,810 store closures have been announced by retailers in 2019, according to Coresight Research. And it’s only March. Last year, Coresight tracked 5,524 store closures, down more than 30 percent from a record 8,139 closures announced in 2017.
Adding to the noise, Amazon said this week it will shut all 87 of its pop-up shops inside Whole Foods, Kohl’s and malls across the country. But the company has vowed to invest more in its book stores and other bricks-and-mortar concepts, including its cashierless convenience store called Amazon Go.
Here are some of the biggest retailers that have announced store closures so far this year.
