Brick-and-mortar retailers have been struggling for years on account of slow economic activity and increased competition from online retailers. The rise in store closings is a prominent sign of their struggles. Weakened companies can no longer afford the real estate and personnel cost to support the hundreds of unprofitable locations. The clearest proof of the problem was Radio Shack’s recent decision to close more than 1,000 stores, according to 24/7 Wall Street.
But, Radio Shack is hardly alone. Stores like Gap and even Macy’s, which has forecast strong earnings and is considered the most successful of the mid-market retailers, closed stores recently.
24/ Wall Street has compiled a list of the top 9 retailers that have closed the most stores. They are:
- Abercrombie & Fitch
- Barnes & Noble
- Aeropostale
- J.C. Penney
- Office Depot
- Radio Shack
- Sears Holdings
- Staples
- Toys “R” Us
