Coresight Research estimates there will be another wave of retail closures in 2025 as legacy companies face relentless competition.
An ongoing surge of U.S. retail closures is expected to persist in 2025 as legacy companies face relentless competition from eCommerce platforms Shein and Temu.
Coresight Research, a firm specializing in retail and technology, estimates that closures will rise to 15,000 in 2025. The firm also projects about 5,800 store openings nationwide this year, but results in a net loss.
With a wave of bankruptcies and closures announced in 2024 from major brands such as Big Lots, Party City, and recent announcements from Kohl’s and Macy’s extending into 2025, Coresight Research estimated that over 1,900 store closures are expected by the second week of 2025.
To put this in perspective, 7,323 stores closed in 2024, marking the highest number of…
