KDAF (DALLAS) — An ever-changing economy, the effects of the pandemic, and changes within an industry have caused many businesses to close their doors in 2023.
Investing.com has released a list of stores that are closing locations around the nation. Is your favorite store next?
Established in 1963 the CVS Pharmacy brand has over 10,000 stores nationwide. In a move that will cost them $130 million, it has planned to shut down more than 200 of its branches.
Due to a new CEO, the company is having to lay off a lot of employees and cut jobs to regroup the company’s strategy and brand. The athletic footwear brand is closing 117 of its branches in 2023.
Don’t worry! Target is here to stay however the popular grocery store chain is slowly focusing on internet consumerism and plans to close about 13 locations.
The pharmacy/store is looking to turn a smaller amount of stores into bigger profit. As a result they have decided to shut down 200 stores.
The popular clothing brand has had 350 of its stores to close worldwide. Due to rebranding and leaning away from traditional consumerism, they have decided to close 136 of its branches.
This alternative ‘rich-kid’ hipster brand has found its home online. And it will be no surprise if more of its stores shut down, especially with stock dropping at an alarming 32%.
The Children’s Place
Kid-friendly brand Children’s Place is finding itself having to adjust, the brand has shut down more than 122 of its branches.
The brand has reported a 36% drop in sales due to temporary closures. And over the next four years, we will be seeing more as it plans to shut 65 different locations.
The American luxury retailer is facing better times. Recently purchased by several investment firms, the company is working its way back to a rebirth. With talks of strengthening their online presence, it remains in the air if we will see more closures.
The American retailer established in 1858, is an American staple in households across the nation. The department store plans to close an estimated 135 store in the next three years.