An estimated 7,795 U.S. retail store closures were announced in 2017, according to a new research note from UBS, setting a new record.
Store closures across the U.S.
Previously, the biggest slew of U.S. retail closures came in 2008 with 6,163 locations shuttering, according to a 2017 report by Credit Suisse. That report added that 5,077 stores closed in 2015 and 2,056 stores in 2016.
Looking at six traditional retailers who closed stores in 2017 — JCPenney (JCP), KMart (SHLD), Macy’s (M), Payless, RadioShack, and Sears (SHLD) — Yahoo Finance put together a map showing the wave of about 2,750 closures across the U.S.
Hope for 2018
Despite the seismic shift toward e-commerce, all is not…