As shoppers continue to gravitate to e-commerce, scores of brick-and-mortar outlets will be on the chopping block in coming months.
What do Abercrombie & Fitch, RadioShack, Family Dollar and Staples all have in common? They are four of the top 10 retailers closing the most brick-and-mortar stores in 2015.
E-commerce continues to increase in popularity, bringing in a bigger share of retail sales in recent years, which is driving many retailers to shutter stores, 24/7 Wall St. reports.
While total U.S. retail sales grew 3.7 percent in the fourth quarter of 2014 compared to the same quarter in 2013, e-commerce sales jumped 14.6 percent in the fourth quarter. One year earlier, total sales grew 3.8 percent year-over-year, while e-commerce sales increased 16 percent.
According to 24/7 Wall St., these 10 companies are closing the most stores:
- Abercrombie & Fitch. 60 stores closing in 2015.
- Aeropostale. 126 stores to be closed in 2015. It also shuttered 120 stores in 2014.
- Barnes & Noble. “So far, Barnes & Noble has at least managed to close many of its stores upon the termination of the lease period. In doing so, the bookseller has managed to avoid taking major losses from store closures,” 24/7 Wall St. said.
- Family Dollar. Dollar Tree acquired Family Dollar Stores in 2014, and then announced it would close up to 500 stores.
- JCPenney. 40 stores will be closed in 2015.
- Macy’s. 14 store closures in 2015.
- Office Depot. After merging with OfficeMax in 2013, Office Depot elected to close 400 stores through 2016.
- RadioShack. The company declared bankruptcy and announced it would sell 1,500 to 2,400 of its 4,000 company-owned stores to General Wireless.
- Sears Holdings. 235 stores (the majority of them Kmarts) to be closed in 2015.
- Staples. 225 stores closures planned for 2015.
Do any of the store closures come as a surprise to you? Have any of the companies shuttered stores in your area? Share your comments below or on our Facebook page.