Another retail store bites the dust

Last year, we saw the beginning of the end for big box stores like Sears, Kmart and Toys R Us.

Three months into the new year, more brick and mortar closures have been announced, especially smaller chains.

A research firm found more than 63,000 stores are already slated to be shuttered.

In 2018, Coresight tracked 5,528 closings, which included Toys R Us, Mattress Firm, Kmart, Sears and Brookstone.

Coresight said 2017 marked the record year for closings with 8,139 shuttered stores.

Texas Retailers Association President and CEO George Kelemen said store closures don't necessarily mean a financial distress, or lack of sales, it could be too many locations or mergers.

"This is not the retail apocalypse that folks keep talking about. It's just a natural sort of shifting out of making sure companies and retailers have the right presence and the right place and different ways to connect with their customers best," said Kelemen.

He said store closures could also be changing demographics or locations.

"All you have to do is drive around Houston and you see the constant construction the constant new shopping centers popping up, new stores going in and the growth and development," said Kelemen.

He said this is just part of the evolutionary nature of the retail industry.

Coresight Research; staff research

The closings

• Payless ShoeSource: 2,589 (includes 248 Canada locations and 114 smaller-format stores in Shopko Hometown locations)

• Gymboree/Crazy 8: 749

• Charlotte Russe: The entire chain of more than 500 stores will close by April 30, but 94 stores from an earlier wave of closings will be shuttered first.

• Things Remembered: 422

• Ascena Retail: 400

• Family Dollar: As many as 390 stores

• Shopko: 251

• GNC: 233

• Gap: Roughly 230 in next two years

• Tesla: More than 200 locations worldwide, around 80 in the U.S.

• Foot Locker: 165; total includes closings outside of the U.S.

• Destination Maternity: 117

• Chico's: 83

• Sears: 72

• Victoria's Secret: 53

• Vera Bradley: 50

• Kmart: 48

• J.C. Penney: 27

• Henri Bendel: All 23 stores

• Southeastern Grocers: 22

• E.L.F. Beauty: All 22 stores

• Saks Off 5th: 20

• Lowe's: 20

• Macy's: 8

• Target: 6

• J.Crew: 5

• Kohl's: 4

• Nordstrom: 3

• Whole Foods: 1

• Calvin Klein: 1

• Pottery Barn: 1

• Williams-Sonoma: 1

• J.C. Penney closings: Retailer to close 24 more stores as sales fall

Some of the announced closures may carry over into 2020, which was the case with several closings announced in late 2018 such as Lowe's, Sears and Kmart. Gap Inc. announced Feb. 28 it would close roughly 230 stores over two years.

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