The new year could be another difficult one for traditional retailers. After closing more than 5,000 stores in 2017, we’re already getting word of closings for 2018.
In 2017, the store closure and bankruptcy announcements began in January, right after the Christmas shopping season.
2018 retail closings: What you need to know
If you happen to receive a gift card for any of the retailers on this list, money expert Clark Howard wants you to spend it right away in case your local store is on the chopping block.
“If you have any gift cards for major retailers, I want you to go and shop. I want you to use them up,” Clark said.
The following list of major retailers closing stores in 2018 is only expected to grow as the year goes on. Here’s where things stand right now:
Sears and Kmart – 63 stores
Sears Holdings is shutting down 45 Kmart stores and 18 Sears stores after the 2017 holiday season. The 63 locations will close for good in January.
- 7200 Us Highway 431, Albertville, AL
- 1214 E Florence Blvd, Casa Grande, AZ
- 26996 Us Hwy 19 N, Clearwater, FL
- 6050 Highway 90, Milton, FL
- 901 Us 27 North, Sebring, FL
- 156 Tom Hill Senior Blvd, Macon, GA
- 144 Virginia Ave, South Tifton, GA
- 1203 Cleveland Road, Dalton, GA
- 3101 East 17th Street, Ammon, ID
- 1006 N Keller Drive, Effingham, IL
- 2606 Zion Road, Henderson, KY
- 230 L Roger Wells Blvd, Glasgow, KY
- 501 Marsailles Road, Versailles, KY
- 1300 Us Hwy 127 S, Frankfort, KY
- 41601 Garfield Road, Clinton Twp, MI
- 200 Capital Ave Sw, Battle Creek, MI
- 2125 S Mission Street, Mt Pleasant, MI
- 1547 Highway 59 South, Thief River Falls, MN
- 2233 N Westwood Blvd, Poplar Bluff, MO
- 16200 East Us Hwy 24, Independence, MO
- 1400 S Limit Avenue, Sedalia, MO
- 3901 Lemay Ferry Road, St Louis, MO
- 1130 Henderson Drive, Jacksonville, NC
- 1292 Indiana Avenue, St. Marys, OH
- 14901 Lorain Avenue, Cleveland, OH
- 2830 Navarre Road, Oregon, OH
- 4475 Mahoning Ave, Austintown, OH
- 1249 North High Street, Hillsboro, OH
- 3382 Birney Plaza, Moosic, PA
- 2830 Gracy Center Way, Moon Township / Coraopolis, PA
- 3319 North Susquehanna Trail, Shamokin Dam, PA
- 22631 Route 68, Clarion, PA
- 1815 6 Ave Se, Aberdeen, SD
- 530 Donelson Pike, Nashville, TN
- 560 South Jefferson Avenue, Cookeville, TN
- 1806 N Jackson Street, Tullahoma, TN
- 4520 W 7 Street, Texarkana, TX
- 4715 Nine Mile Road, Richmond, VA
- 300 Towne Centre Drive, Abingdon, VA
- 3311 Riverside Drive, Danville, VA
- 2315 Wards Road, Lynchburg, VA
- 111 Division St North, Stevens Point, WI
- 800 Grand Central Avenue, Vienna, WV
- 1287 Winchester Avenue, Martinsburg, WV
- 301 Beckley Plaza, Beckley, WV
- 1701 Mcfarland Blvd E, Tuscaloosa, AL
- 5111 Rogers Avenue, Fort Smith, AR
- 4201 N Shiloh Drive, Fayetteville, AR
- Fiesta Mall, Mesa, AZ
- Greeley Mall, Greeley, CO
- 8020 Mall Pkwy, Lithonia, GA
- 1709 Baytree Road, Valdosta, GA
- Berkshire Mall, Lanesboro (Pittsfield), MA
- 7885 Eastern Blvd, Baltimore, MD
- 1200 Us Rt 22, Phillipsburg, NJ
- 2999 E College Avenue, State College, PA
- 300 Lycoming Mall Circle, Pennsdale/Muncy, PA
- 2334 Oakland Ave, Indiana, PA
- 4000 Sunset Mall, San Angelo, TX
- 4600 S Medford Dr, Lufkin, TX
- 754 S State Street, Salt Lake City, UT
- 114 Southpark Circle, Colonial Hts, VA
- 1400 Del Range Blvd, Cheyenne, WY
Sears Holdings statement
“Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size. In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members.”
Bon-Ton – 40 stores
Bon-Ton Stores, a department store chain, is closing 40 underperforming locations in 2018. The retailer has 260 stores across the country.
No list of the affected stores was provided when company executives made the announcement in November.
J. Crew – 50 stores
In a news release, J.Crew said it expects to close 50 stores during fiscal 2017, which ends in January.
Macy’s isn’t finished shrinking its retail footprint quite yet. After closing 68 stores nationwide in 2017, the department store chain said it will close about 30 stores “over the next few years.”
Macy’s stores closing in early 2018:
- Laguna Hills Mall, Laguna Hills, CA
- Stonestown Galleria, San Francisco, CA
- Westside Pavilion, Los Angeles, CA
Gap and Banana Republic – 200 stores
Gap Inc. plans to close 200 Gap and Banana Republic locations over the next three years, the company announced in September 2017. No list of the stores was released, but they’re all “underperforming.”
At the same time, Gap Inc. will open 270 locations for its growing brands, Old Navy and Athleta.
Teavana – 379 stores
Bad news for tea lovers! Starbucks is closing every single one of its Teavana retail locations.
Many of the 379 Teavana stores, which are primarily mall-based, have been underperforming. Starbucks said it tried to improve sales through creative merchandising and new store designs, but it just wasn’t working.
The majority of the Teavana stores will shut down in the spring, according to a news release.
Ascena Retail Group – At least 268 stores
Ascena Retail Group, the women’s clothing retailer that operates the brands Ann Taylor, Loft, Dress Barn, Lane Bryant, Justice and several others, is planning to close hundreds of stores.
In June 2017, company executives announced that 667 stores are part of its fleet optimization program.
At least 268 of those stores will definitely be closed by July 2019. The remaining 399 stores will be shut down if rent concessions aren’t obtained through negotiations with landlords.
The company didn’t specify which locations will be closed.
Michael Kors – 100 to 125 stores
Michael Kors is closing between 100 and 125 of its retail stores over the next two years.
According to a May 2017 news release, the company is making the move to improve the profitability of its store fleet. No list of the affected stores was released.
More Clark.com retail coverage:
- 12 money-saving secrets to know about Ross Dress for Less
- 9 things to know before your first trip to Costco
- 12 money-saving secrets to know about T.J. Maxx and Marshalls