With the increased trends of shopping online, there are many big retail stores that are facing loss. They have been facing the crisis with the shortage of the crowd that will walk to their stores and buy their products. And these retail stores are not small, around the corner street shops, they are some of the big names in various fields.
So, here is the list of 10 big retailers that are closing their stores in 2018:
The GAP plans to close around 200 of its under-performing GAP and BANANA stores in New York City and is moving more than 100 jobs to the company’s corporate headquarters in San Francisco.
The Sam’s club is a warehouse owned by Wall-mart, had more than 700 stores, out of which 63 stores will be closing around May this year. They will be converting them into online stores because people are too lazy to walk up to the place and buy their products.
Teavana is one of the popular tea stores of Star Bucks. It is closing down 380 of its outlets approximately and will affect 3300 employees. They had to face the lawsuit that prevented this coffee company from closing 77 stores in Simon-owned malls.
J.C. Penney closed 140 stores in 2017 and it is shutting off one of its distribution centres and 8 stores worldwide this year. More than 500 people will lose their jobs in Wisconsin and more than 400 people are affected by these stores closing. There were once 875 stores of J.C. Penney.
When it comes to talking about a big brand – Macy’s has to be included. It is one of the most popular brands in clothing, footwear, accessories, beauty products, etc. Two years ago it closed 100 stores and this year they will be closing 11 more stores as well. Last year, it closed 60 stores, including one in downtown Minneapolis, the one that was opened in 1902. If this store could face this problem, think about the other brands.
This store once had 200+ stores but they have also become the victim of online shopping. They are all set to close down 60 stores in 2018. According to CNBC report, this brand has experienced 80% of lowering of the store crowd, hence, the big decision.
The Bon Ton stores are furniture stores which are closing down its more than 50 stores in 2018. Once upon a time, it has 250+ stores and it owned 6 other nameplates which are Boston Store, Younkers, Bergner’s, Carson’s, Elder-Beerman and Herberger’s. However, it is soon to be defunct.
Who doesn’t love Michael Kors bags. I have always been a big fan of MK bags and shoes as well but they are wrapping up their 100 to 125 stores. Luxury accessories and fashion designer Michael Kors had more than 800 retail stores at one time but now their traffic has shifted to its online stores.
This popular brand is loosing up to 100 to 120 stores in 2018. They have been facing the same crisis of lower the customers. Last year they folded almost half the number of stores they are going to close in 2018 because the American crowd isn’t responding much. At one time, Guess had more than 900 stores in the USA.
Who doesn’t know Crocks. They are the colorful shoes with holes in them. The Crocs store is shutting off the brick and mortar stores. They have decided to go online in collaboration with the Hollywood actress Drew Barrymore. Also, the maintenance cost is way too high with not the equally high amount of traffic.
Now, if these stores are being closed, how will you buy your favorite brand. Well, Couponobox brings you coupons of these above-mentioned stores. You can stay loyal to your brands by ordering products online. So, what are you waiting for, open your browser and visit Couponobox,