Updated
- At least 11 retail brands have said they’re closing US stores in 2024, totaling up to 1,601 locations.
- Family Dollar is the largest chain on the list, planning to close at least 600 stores this year.
- Other companies, such as Walmart and TJX, are closing a few stores while opening many more.
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A Business Insider tally of disclosures from nine retail chain brands found as many as 1,601 stores have closed or are set to close across the US in 2024.
The number is down considerably from prior years, including last year, when the collapse of Bed Bath & Beyond contributed to a total of more than 2,800 locations shuttering.
Analysts at UBS think the total number of US retail closures could reach 45,000 over the next five years, led largely by smaller stores going out of business, even as larger firms such as Walmart, Costco, Target, and Home Depot continue to expand.
Topping this year’s list is the Dollar Tree-owned Family Dollar, which is set to close at least 600 locations, with more to come as leases expire.
Some companies, including Express and Foxtrot, are in dire financial straits. Others, such as Walmart and TJX, have plans to expand by more stores than they close. Still others, like Foot Locker and Macy’s, are shifting their strategies as shopping patterns change.
See the full list below:
Family Dollar: 600 stores
Its parent company, Dollar Tree, said it would close 600 Family Dollar stores in the first half of this year, while an additional 370 locations are set to close in the coming years as leases expire.
CVS: 300 stores
CVS is in the final year of its three-year plan to shutter 900 locations. The company says changing populations and buying patterns led it to reconsider how many stores it needed in certain areas.
Express: 107 stores
Express announced in April that it would close 95 flagship brand stores and all 12 of its UpWest branded locations.
Conn’s: 71 stores
Sun Belt furniture and electronics retailer Conn’s Home Plus said it will close 71 locations across 13 states after filing for bankruptcy in Texas.
Macy’s: 50 stores
Macy’s said in February that it would close 150 locations over the next three years, starting with 50 in 2024.
Big Lots: 35 to 40 stores
Bennett Raglin/AP
Big Lots disclosed in its quarterly filings in June that it plans to close between 35 and 40 stores this year, after having closed 35 stores in the prior year.
Foxtrot: 33 stores
The boutique convenience store Foxtrot abruptly shuttered its 33 locations in April after it came up $35 million short of its 2023 sales goal, Modern Retail reported.
Walmart: 7 stores
Walmart plans to close seven locations across four states, which it said did not meet financial-performance expectations. The company said earlier this year it planned for a total of 150 new or upsized stores in the next five years, starting with 14 new locations in 2024.
TJX: 3 stores
The off-price retail company TJX closed two T.J. Maxx locations and one Marshalls store earlier this year. Those will be more than offset by the addition of 45 new US locations across the two brands, plus 83 more across the other three brands in the TJX family.
LL Flooring: 200 stores
LL Flooring, formerly known as Lumber Liquidators, is going out of business after failing to find a buyer following its Chapter 11 bankruptcy filing.
The chain announced it will shutter its remaining 200 stores this year, but it will be holding going-out-of-business sales at the locations before closing their doors for the final time.
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