U.S. Store Closures Surge to Highest Level Since Pandemic

Over 7,000 stores shut down in 2024, with projections suggesting 15,000 closures in 2025 as consumer spending consolidates around major retailers.

Major retailers such as Party City, Macy's, and Big Lots led the 7,325 store closures in 2024, the highest number since 2020.
Coresight Research projects an estimated 15,000 store closures in 2025, with 1,925 already announced by early January.
Retail bankruptcies nearly doubled in 2024, with 51 filings compared to 25 in 2023, impacting specialty chains like The Container Store and Joann.
Consumer spending remains strong but increasingly concentrated on larger retailers like Amazon, Costco, and Walmart, while smaller chains struggle to compete.
Store openings also rose in 2024, with 5,970 new locations, driven by brands such as Dollar General, 7-Eleven, and Five Below.