Retailers across the United States are continuing to face the pressures of a rapidly changing market. From shifts in consumer habits to the lingering impact of the pandemic, 2024 is shaping up to be a challenging year for many businesses. With upwards of 2,000 store closures already announced, here’s a closer look at what’s happening across the retail landscape.
1. Family Dollar: 600 Stores
Family Dollar, owned by Dollar Tree, tops this year’s closure list with plans to shutter at least 600 locations. Many more closures could follow as leases expire.
2. 7-Eleven: 444 Stores
Convenience store giant 7-Eleven is closing 444 stores in North America due to underperformance. Declining tobacco sales and reduced government assistance have contributed to the decline.
3. CVS: 300 Stores
CVS is in the final phase of its three-year plan to close 900 stores. This year alone, 300 stores will shut their doors as the company adjusts to changing consumer patterns.
4. LL Flooring: 200 Stores
After failing to secure a buyer, LL Flooring (formerly Lumber Liquidators) is closing all 200 of its locations following its Chapter 11 bankruptcy filing.
5. Denny’s: 150 Stores
Denny’s is targeting its lower-performing locations, planning to close 50 restaurants by the end of 2024 and another 100 in 2025.
6. Walgreens: 150 Stores
Walgreens plans to close 150 U.S. locations this year, with more closures to follow in 2025 as part of a broader restructuring plan.
7. Foot Locker: 113 Stores
In an effort to revamp its retail strategy, Foot Locker has closed 113 stores this year while opening new concept stores.
8. Express: 107 Stores
Express is shutting down 95 of its flagship stores along with all 12 UpWest branded locations, aiming to streamline operations.
9. Rite Aid: 77 Stores
As part of its bankruptcy proceedings, Rite Aid is closing 77 stores this year, following 150 closures last year.
10. Conn’s: 71 Stores
![Conn's Home Plus on a Cold, Snowy Day - Sign on Main Road [Former Toys R Us] (Fort Collins, Colorado, USA) - 12\26\2019](https://theheartysoul.com/wp-content/uploads/2024/11/shutterstock_1955388055.jpg)
Furniture and electronics retailer Conn’s is closing 71 stores across 13 states after filing for bankruptcy.
11. Macy’s: 50 Stores
Macy’s continues its three-year plan to close 150 stores, with 50 set to shut down this year as it focuses on smaller-format locations.
12. Big Lots: 35–40 Stores
Big Lots is reducing its presence by closing 35 to 40 stores in 2024, following a similar reduction last year.
13. Foxtrot: 33 Stores
Boutique convenience chain Foxtrot abruptly shuttered its 33 locations after falling short of its 2023 sales goals.
14. BuyBuy Baby: 10 Stores
As part of its pivot to a digital-first brand, BuyBuy Baby is closing its last 10 stores by the end of the year.
15. Walmart: 7 Stores
Despite plans to open more stores, Walmart is closing seven underperforming locations across four states.
16. TJX (T.J. Maxx and Marshalls): 3 Stores
TJX closed three stores earlier this year but plans to offset these closures with 45 new U.S. locations across its various brands.
17. Looking Ahead
Retail analysts predict closures will continue as smaller stores struggle to compete with e-commerce and larger chains. UBS estimates up to 45,000 U.S. retail locations could close over the next five years.
The U.S. retail sector is navigating a turbulent period, with more than 2,000 stores set to close this year. As consumer habits evolve, companies are reevaluating their strategies, resulting in significant shifts across the industry.