Retailers in the U.S. faced a challenging year in 2024. By year-end, the sector will have recorded 7,327 store closures, a 57.8% increase compared to the previous year, according to Coresight Research. Meanwhile, 5,919 openings were announced, reflecting a modest 8.2% bump.
The surge in closures reflected a tough operating environment. While the economy improved, the retail sector struggled with the lingering effects of the pandemic, inflation, and shifting consumer behavior. E-commerce growth also made shoppers more selective about in-store visits, leaving many retailers unable to keep pace.
The largest share of closures in 2024 were led by discount stores, drugstores, and home and office supply chains. Bankruptcies further amplified the trend. For instance, Macy’s (M) closed around 60 stores during the year as part of its efforts to streamline operations.
Amid the difficulties, some retailers managed to expand. Aldi stood out, opening 123 stores while only closing 12. The discount grocery chain met its goal of adding 126 locations, the firm noted, demonstrating its resilience in a competitive market.
While closures outnumbered openings overall, the data showed pockets of growth. As the retail sector continues to evolve – shaped by economic pressures and changing consumer expectations – businesses that adapt to these shifts may be better positioned to succeed, even if it means operating with a smaller footprint.
As the year draws to a close, we’ve compiled a list of the top U.S. stores that had the most closures in 2024, including their current store count. Let’s take a closer look.
