Around the Net
First Quarter Yields 2,000 Store Closures
- Sourcing Journal, Saturday, April 1, 2023 5:24 PM
In just the first three months of 2023, nearly 2,000 store closures have been announced in the U.S. and Canada at fashion stores, Bath & Body Works, CVS, Best Buy, Staples and Office Depot. "Inflation and layoffs are some of the big storylines that could lead to even more closures," per Sourciing Journal. "In 2020, Covid sparked over 11,000 fashion-related store closings, most of which came from bankruptcies. Retailers could find themselves thinning the store herd if conditions continue to decline this year."
