It’s no secret that the last three years have been difficult all the way around.
And, as if we needed a sign that the economy is a dumpster fire, look at the price of eggs!
Nobody is feeling the financial squeeze more than retailers.
They have been closing stores left and right, and it’s really not slowing down.
There are several retailers across the country that have announced they are closing stores in 2023.
I mean, these are some big name stores that you probably shop at all the time!
When it’s all said and done, more than 875 locations will be closing their doors.
What Stores Are Closing In 2023?
According to Yahoo News, some of these retail companies are trying to stave off bankruptcy, while others are simply trying to cut costs.
Bed Bath & Beyond is set to close 416 of its stores in the United States, and all of its stores in Canada.
Tuesday Morning is closing about half of its location — 265 stores.
This next one hurts my heart.
Gap and Banana Republic have announced that they are closing approximately 74 locations. They have already closed 276 stores since 2020.
Bath & Body Works is working on getting out of the mall business. They are slated to open more free-standing stores, but are closing about 50 of their mall locations.
Side Note: I miss malls. Remember when we were teenagers, and would spend our days at the malls with our friends. Good times.
Party City — the ONLY place in our town to get helium balloons — is closing approximately 22 stores across the U.S.
Best Buy is reformatting their concept, and moving towards smaller stores. They are set to close 20-30 of their big-box style store locations.
Walmart is going to close eight stores across five different states due to poor performance.
Big Lots is focusing more on rural locations, and getting away from big cities. They are set to close seven locations between California and Colorado.
Macy’s is working on whittling down their stores by 125 over the next three years. They are starting in 2023 by closing four locations.
JC Penney, which has already closed about 150 locations since 2020, is going to be closing 2 more locations in New York and Indiana.
Amazon — which I didn’t even realize had physical locations — will start by closing several different Fresh grocery and Go convenience stores.
They are reevaluating their footprint in the physical retail space game.
What do you think? Which stores are you hoping don’t close near you?