Business
Neither Walmart nor Costco: These are the stores that closed the most locations in 2024
This year has seen a nearly 70% jump in the number of stores US retailers have shuttered stores across the nation with over 7,100 closures in eleven months.
Ever since the Federal Reserve began its efforts to bring inflation under control there were concerns that it would throw the US economy into recession. Fortunately, policymakers at the central bank managed to pull off a soft landing with inflation approaching the 2% target and the economy on a solid footing.
That is thanks in part to American consumers who continued to spend in spite of rising prices. Nevertheless, US retailers have been closing more stores this year than in 2023 reports CBS based on recent data from CoreSight, a research firm. And there have been close to twice as many that have filed for bankruptcy protection in the first eleven months, 45, compared to all of the previous year when 25 did so.
Neither Walmart nor Costco: These are the stores that closed the most locations in 2024
American retailers have shuttered 7,100 stores in 2025, that’s nearly 70% more than they did the year before according to CoreSight. Discount chains and drugstores have had the largest footprint reductions this year.
Here are the ten US retailers that have closed the most stores in 2024:
- Family Dollar: 677
- CVS Health: 586
- Big Lots: 580
- Conn’s:553
- Rue21: 543
- 7-Eleven: 492
- Rite Aid: 408
- 99Cents Only Stores: 371
- American Freight: 353
- Walgreens: 259
CVS, Rite Aid and Walgreens have all been struggling with lower earnings and staffing issues. Rite Aid emerged from bankruptcy in September after filing for Chapter 11 protection last year.
As for Family Dollar topping the list, that may come as a surprise for some. Both Dollar General and Dollar Tree have announced that they will open hundreds of new locations this year and overall the sector is growing.
Speaking to CBS MoneyWatch, GlobalData analyst Neil Saunders said, “there is not enough growth in the retail market for every player to do well,” to explain why some are faltering while others are succeeding.
“Many of the chains closing stores are those that have problems which go beyond the economy,” he elaborated. “Their propositions might not be right, their offers might not be what consumers want, and they might not have responded to competitive threats in the right way.”
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