Hundreds of Stores to Close After Another Weak Holiday Season for Chain Retailers

Sears, Macy's, and The Limited are among chain apparel stores closing locations all around the United States.

1 minute read

January 27, 2017, 2:00 PM PST

Richard Bradford / Shutterstock

Business moving online and a weak holiday sales season have resulted in major closures for American retailers. "More than 10 percent of U.S. retail space, or nearly 1 billion square feet, may need to be closed, converted to other uses or renegotiated for lower rent in coming years, according to data provided to Bloomberg by CoStar Group," Lindsey Rupp and Molly Smith report in the Chicago Tribune.

"Macy's reported disappointing sales in the holiday period, and the company announced a plan to slash 6,200 jobs. It previously said it would close 100 stores, with 68 of those shutting down this year. That move will eliminate an additional 4,000 jobs. Sears also announced a move to shut stores after a holiday sales slump. The department store chain will close 150 locations," Rupp and Smith write.

FULL STORY: Retail malaise puts pressure on chains to shutter more stores

Monday, January 23, 2017 in The Chicago Tribune

Community / Economic Development United States Retail Stores Brick and Mortar Retail Online Shopping Changing Cities Stores Closing View More

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