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Kohl’s is closing 27 stores in 15 states, including Arapahoe Crossing location in Aurora
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Fox Business, National

Kohl’s is closing 27 stores in 15 states, including Arapahoe Crossing location in Aurora

By Aislinn Murphy  | Fox Business Twenty-seven "underperforming" Kohl’s stores are set to shutter this spring. The locations, named late last week by Kohl’s, will permanently close their doors by April, according to the Wisconsin-based retailer. "While Kohl’s continues to believe in the health and strength of its profitable store base, these specific locations were underperforming stores," Kohl’s said.  READ THE FULL STORY AT FOX BUSINESS
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Home goods chain store files for bankruptcy and sparks fears of mass closures
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Daily Mail, National

Home goods chain store files for bankruptcy and sparks fears of mass closures

By Tilly Armstrong | Daily Mail The struggling home goods chain, The Container Store, which has been around for 46 years, filed for Chapter 11 protection in Texas late on Sunday.  The store is known for its home organizational goods, including closet organizers and storage bins. Despite receiving a boost from Marie Kondo's hit Netflix show 'Tidying Up' during the Covid-19 pandemic, the chain has been weighed down by mounting losses in recent years.  The company had $229.8 million in long-term debt as of the quarter ended September 28. CEO Satish Malhotra, a former Sephora executive who took over the top spot at the chain in 2021, said he is confident The Container Store is 'here to stay' despite the filing, Yahoo! Finance reported. READ...
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Is Macy’s next in retail bloodbath? Beloved store sees sales slump amid 150 shops closing
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Daily Mail, National

Is Macy’s next in retail bloodbath? Beloved store sees sales slump amid 150 shops closing

By Alice Wright | Daily Mail Macy’s is facing a rough holiday season after revealing disappointing sales figures and slashing its profit outlook. The grim outlook provided by bosses this morning has sparked fears for the future of the much-loved retailer, which is already in the process of shutting a third of its stores. Sales at the iconic department store chain - which also owns Bloomingdale's - fell by 2.4 percent in the quarter ending in November. Macy's also significantly lowered its expected earnings for 2024.  READ THE FULL STORY AT THE DAILY MAIL
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Wendy’s to close 140 restaurants by the end of the year
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Fox Business, National

Wendy’s to close 140 restaurants by the end of the year

By Daniella Genovese  | Fox Business Fast food giant Wendy's is shuttering 140 underperforming locations through the end of 2024 as it looks to improve its "restaurant footprint and overall system health."  To counter the closures, though, the Ohio-based company is working to replace many of these units with "new restaurants at better locations with significantly improved sales and profitability," Wendy's CEO Kirk Tanner told analysts on its third quarter earnings call.  The company thoroughly reviewed individual restaurants to ensure they meet sales expectations and are profitable enough to support growth, and said that the locations closing are "outdated and in underperforming areas," with operating margins far below the system average, Tanner said. READ THE FULL STORY A...
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TGI Fridays closes a dozen stores across America in just one month
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Fox Business, National

TGI Fridays closes a dozen stores across America in just one month

By Kristen Altus  | Fox Business Your ability to enjoy a plate of loaded potato skins and $5 happy hour drinks is slowly dwindling, as TGI Fridays has closed 12 U.S. locations in the past month and shuttered 35 restaurants across the pond. According to the company’s location section on its website, multiple TGI Fridays locations in the Northeast closed last week, including in Clifton Park, Middletown and Poughkeepsie, New York; Allentown, Pennsylvania; Enfield, Connecticut; and Leesburg, Virginia. Additional closures from earlier this month took place in the Southeast and Midwest regions, in states like North Carolina, South Carolina, Wisconsin, Michigan and Indiana, as well as two locations in Minnesota. READ THE FULL STORY AT FOX BUSINESS
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Walgreens to close 1,200 stores as part of turnaround effort
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Fox Business, National

Walgreens to close 1,200 stores as part of turnaround effort

By Daniella Genovese  | Fox Business Walgreens plans to close at least 1,200 stores over the next three years as the pharmacy giant seeks to reduce costs and turn around operations under a new leader.  One of the largest drugstore chains in the country, Walgreens said about 500 stores are slated to close as early as fiscal year 2025. In June, the company had announced its intention to close a "significant" number of underperforming stores across the U.S. as it contended with profitability challenges and declining margins. But CEO Tim Wentworth, who took over in October 2023, didn't give an estimate at the time of how many stores would be affected. He noted that a "meaningful percent" of the underperforming locations would shutter.  READ THE FULL STORY AT FOX BUSINESS
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