Updated September 27, 2013UPDATED 9-25-13: Complete List of 2013 Store Closings >>
As the calendar changed to the year 2013, news of store closings by the largest U.S. retail industry chains were small in comparison to the number of store closings that had already been announced shortly after the 2012 New Year. No news is good news when it comes to 2013 store closings, particularly after disappointing Christmas retail season results.
Many experts believe that the number of retail establishments per capita in the United States was excessive even before the economy recessed. According to the 2007 Economic Census, there were 1,122,703 retail establishments in the United States and a total of 14.2 billion square feet of retail space. That means that there is approximately 46.6 square feet of retail space per capita in the U.S., compared to two square feet per capita in India, 1.5 square feet per capita in Mexico, 23 square feet per capita in the United Kingdom, 13 square feet per capita in Canada, and 6.5square feet per capita in Australia.
With the explosive growth of Internet and mobile shopping, the oversaturation of physical retail establishments in the U.S. becomes even more obvious. Downsizing the size of physical retail stores and the number of retail stores will undoubtedly be a trend that continues throughout 2013 and beyond.
At the beginning of 2012, Sears Holidngs was announcing the closing of 100 - 120 of its Sears and Kmart stores. Things haven’t turned around much for Sears or Kmart in 2012, and it would be no surprise if the chain announced even more store closings in 2013. Additionally, other retail chains that have been struggling like jcpenney, Blockbuster, Abercrombie & Fitch, and PacSun are expected to do some kind of downsizing in 2013, in alignment with their diminishing sales and dwindling customer base.
What follows is a complete, updated, and ongoing list of U.S. retail chains that are closing underperforming retail locations, downsizing, or going out of business in the 2013 calendar year.
>> Complete 2013 Retail Store Closings List >>
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2013 Retail Store Closings Arranged Alphabetically
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