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US retailers confirm another 169 store closures in just one week - among them Urban Outfitters, Walmart and a premium grocery chain
US retailers confirmed another 169 closures last week - bringing the total so far this year up to almost 2,600.
Stores that announced the shuttering of locations included Express, Outfox Hospitality, Shop 'n Save, Urban Outfitters and Walmart.
Physical stores in shopping malls, strip malls, downtown centers and on main street in towns have been under threat from online retail and changing tastes.
'Year to date, in 2024, major US retailers have announced 7.4 percent fewer openings and 12.3 percent more closures compared to the same time last year,' read a report by Coresight Research on closures announced over the week ending April 26. The full list is below.
US retailers confirmed another 169 closures in just one week. Walmart said it would shut its Neighborhood Market store in Milwaukee, Wisconsin
The total of 2,587 closures in the first 17 weeks of the year is almost 300 more than at the same time last year, but a thousand less than the number of openings.
Walmart plans to close one Neighborhood Market store in Milwaukee, Wisconsin, on May 17.
Walmart Neighborhood Markets are smaller versions of its traditional Walmart stores but have been largely unsuccessful and the retailer closed multiple last year.
'Usually big-box retailers when they try to go small with city stores, it doesn't usually work,' Alexander Milovic, professor of marketing at Marquette University, told local station TMJ4. 'A grocery store like that runs on smaller profit margins.'
Discount grocery retailer Shop 'n Save also announced it would close one store in Pittsburgh, Pennsylvania, on May 13, according to the report.
Last week, café and deli market chains Foxtrot and Dom's Kitchen & Market - both operated by Outfox Hospitality - abruptly closed all of their stores in multiple states.
The closures affected 33 Foxtrots and two Dom's Grocery Stores in Chicago, Austin and the Washington DC area.
'We explored many avenues to continue the business but found no viable option despite good faith and exhaustive efforts,' the company said in a notice on its website.
Founded in 2014, Foxtrot Market started as an upmarket neighborhood grocery store. The stores feature a coffee shop and seating for guests, which turned into a wine bar at night. The retailer also tried to juggle retail sales.
Last week, fashion retailer Express filed for Chapter 11 bankruptcy and said it intended to close more than 100 stores.
The retailer, whose portfolio of brands also includes Bonobos and UpWest, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware.
As part of the bankruptcy process, the company said it would close approximately 95 Express retail stores and all of its 12 UpWest stores.
Foxtrot Market was founded in Chicago in 2014 as an upmarket neighborhood grocery store
The total of 2,587 closures in the first 17 weeks of the year is 12.3 percent more than had been scheduled by the same time last year
An Urban Outfitters store in Brooklyn's trendy Williamsburg neighborhood closed this month
Launched in 1980, Express was once a destination for well-priced office attire but has been battling with soft consumer demand due to slowing spending and increased price sensitivity.
UpWest, the company's lifestyle spinoff brand, was launched in 2019 and sold casual clothes and sleepwear for men and women.
Clothing retailer Urban Outfitters was reported by Coresight to have scheduled the closure of an additional 7 stores.
Local outlet Brooklyn Paper reported this month that Urban Outfitters closed its store in the trendy area of Williamsburg in Brooklyn.