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Mike Timmermann Wednesday, March 22 nd 2017
These major retailers are expected to close nearly 3,000 stores this year
If you’ve been following Clark.com lately, you may have noticed that 2017 hasn't been a good year for some retailers that many people know and love.
With stores big and small announcing sweeping closures, it can be hard to keep up with the changes.
On the radio show, Clark explained that the retailers on this list are closing stores because they’re not giving people what they want in terms of things like price, fashion and selection.
As a result, shoppers are increasingly turning to online and discount merchants for better deals.
“The reality is that America has been overstored. We have far too many retail locations, shopping centers and branches of different chains,” Clark said. “But stores that are meeting your needs with low prices will continue to thrive.”
In the meantime, here's our list of major retailers that are closing stores in 2017:
JCPenney has announced that it plans to close nearly 140 locations across the country, many in rural areas.
JCPenney CEO Marvin Ellison said at a conference in early January that the department store chain would have to shut down some of its nearly 1,000 stores, so this announcement was expected.
Macy's plans to close about 15% of its locations amid a challenging retail environment.
The retailer revealed in August 2016 that it would close 100 of its 730 stores to concentrate on better-performing locations to “elevate their status as preferred shopping destinations.”
In a January 4 news release, Macy’s announced 68 of the closures. Of the 68, three have already closed, 63 were scheduled to shut down in early 2017, and two will be closed in mid-2017.
The company plans to close approximately 30 additional stores over the next few years.
Could the end be near for Sears and Kmart?