The U.S. retail sector is experiencing a significant downturn, with a record 2,600 store closures reported in the first four months of 2024, described as a retail bloodbath. This surpasses the previous record set in 2023. The shift towards online shopping is a major factor, with companies like Home Depot adapting by creating stores specifically designed for online sales. UBS has also issued a report highlighting the severe impact of these closures and potential bankruptcies in the retail industry, noting the alarming rate of store shutdowns.
Store closures are surging this year. Here are the retailers shuttering the most locations. https://t.co/UkGygEKoLq
This is why stores are closing https://t.co/1dERgF4H95
UBS issues apocalyptic report about store closures, bankruptcies - TheStreet #retail #cre https://t.co/uoY70uMJr5
UBS issues apocalyptic report about store closures, bankruptcies https://t.co/5VDiu4oT0p
US retail stores continue to shutter at an alarming rate https://t.co/ojNADTHueb via @BIZPACReview
Retail store closures this year thus far has hit a new high. 2600 stores have closed in first 4 months. This is higher than previous record which was in 2023. No one is shopping in store now. It’s all online. Home Depot creating new stores catered to online sales only.
US retail bloodbath continues as store closures hit 2,600 so far this year - here's the full list https://t.co/14tMJdYlEk https://t.co/d922Lj81IK