U.S. retailers are set to close more stores than they open again this year, continuing a troubling trend. In 2024, 7,325 stores shuttered while 5,970 opened—a net loss of 1,355, according to Coresight Research. The outlook for 2025 is even bleaker, with an estimated 15,000 closures and just 5,800 openings.
More than 2,000 closures are already on the books for this year, a staggering 334% increase year-over-year. These numbers reflect liquidations, bankruptcy-related downsizing and shifts in retail strategy.
Party City, Big Lots, Kohl’s and Macy’s are among the biggest names scaling back operations. Party City, in its second bankruptcy in two years, is closing all 700 stores. Big Lots, also in bankruptcy, initially planned to shut down completely but struck a deal to keep at least 200 locations running. Kohl’s, struggling with declining sales, will close 27 underperforming stores by April.
Macy’s, though financially stronger, has aggressively reduced its store footprint. Once boasting nearly 900 locations, the retailer has been steadily closing stores for years. This year, it will shutter 66 more locations as part of a three-year plan to close 150 stores.
With more closures looming, brick-and-mortar retail is facing yet another tough year.