7 Retailers That Are Closing a Bunch of Stores in 2024

Every year, a handful of major retailers close down some of their stores.

Some of these retailers simply take a step back by closing underperforming locations. Others go out of business altogether.

This year is no exception. Here are some big retailers shuttering locations in 2024.

Dollar Tree

Of all the retailers that have announced closures in 2024, Dollar Tree might be shuttering the most locations from coast to coast.

For starters, Dollar Tree plans to close about 30 stores during the first half of 2024. The closures reportedly are linked to worsening store performance and problems with theft in the stores.

But those aren’t the only buildings being emptied by the company. Keep reading for more on Dollar Tree closures.

Family Dollar

Dollar Tree also owns Family Dollar. The parent company of Family Dollar plans to close 600 Family Dollar stores during the first half of 2024. Over the next several years, another 370 locations will also close.

Best Buy

Best Buy is planning both job cuts and a handful of store closures.

In all, between 10 and 15 stores will close during the first half of the 2025 fiscal year (which started in February 2024). In the previous fiscal year, Best Buy closed two dozen locations.

Macy’s

There is good news and bad news from Macy’s, which owns the Macy’s chain as well as the Bloomingdale’s department store chain and Bluemercury beauty chain.

The company plans to close about 150 Macy’s stores. In happier news, it will open more Bloomingdale’s and Bluemercury locations.

Macy’s has said that its namesake stores are underperforming compared with the other two chains.

Rite Aid

As Rite Aid struggles with bankruptcy, the pharmacy chain plans to close more stores. A recent court filing shows that Rite Aid will close at least 77 stores in 2024.

In October 2023, the retailer announced it was filing for bankruptcy. Since then, 431 locations have closed or are scheduled to do so.

Walgreens

Walgreens announced in August 2023 that it expects to close 150 of its nearly 9,000 U.S. locations by the end of August 2024 as part of an ongoing effort to “optimize profitability” in the U.S., which has also involved eliminating hundreds of positions.

Rosalind Brewer, CEO of parent company Walgreens Boots Alliance, said at the time that the pharmacy chain was looking to cut costs by as much as $4.1 billion by the end of 2024.