US braces for '45,000 store closures'

Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.

 

Several major retailers have announced store closures or gone out of business altogether in recent years.

 

Chains such as Foot Locker, Sally Beauty, Tuesday Morning, Shore City, Z Gallerie, and Mitchell Gold + Bob Williams have all gone out of business.

 

Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.

 

The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.

 

UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.

 

Despite that, the report says that certain stores should thrive while others decline.

 

It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.