Nearly 1,000 Family Dollar locations are set to close in the coming years, starting with 600 in the first half of 2024.
Reuters
At least 13 retail brands have said they're closing US stores in 2024, totaling up to 2,055 locations.
Family Dollar is the largest chain on the list, planning to close at least 600 stores this year.
Other companies, such as Walmart and TJX, are closing a few stores while opening many more.
A Business Insider tally of disclosures from 13 retail chain brands found as many as 2,055 stores have closed or are set to close across the US in 2024.
The number is down from prior years, including 2023, when the collapse of Bed Bath & Beyond contributed to the shuttering of more than 2,800 locations.
And although Walgreens has announced plans to cut 1,200 stores from its fleet over the next three years, the company said the first round of closures won't be completed until 2025.
Analysts at UBS think the total number of US retail closures could reach 45,000 over the next five years, led largely by smaller stores going out of business, even as larger firms such as Walmart, Costco, Target, and Home Depot continue to expand.
Topping this year's list is the Dollar Tree-owned Family Dollar, which is set to close at least 600 locations, with more to come as leases expire.
Some companies, including Express and Foxtrot, are in dire financial straits. Others, such as Walmart and TJX, have plans to expand by more stores than they close. Still others, like Foot Locker and Macy's, are shifting their strategies as shopping patterns change.
See the list of major closures below:
Family Dollar: 600 stores
Family Dollar has caused significant headaches for Dollar Tree.
REUTERS/ Jim Young
Its parent company, Dollar Tree, said it would close 600 Family Dollar stores in the first half of this year, while an additional 370 locations are set to close in the coming years as leases expire.
7-Eleven: 444 stores
7-Eleven has approximately 13,000 locations in the US and Canada.
Budrul Chukrut/SOPA Images/LightRocket via Getty Images
7-Eleven parent company Seven & I Holdings Co. said it will close 444 North American locations, citing financial underperformance.
In addition to a challenging consumer environment, factors that contributed to declining sales included lower rates of tobacco use, bans on flavored nicotine products, and the reduction of SNAP benefits, the company said.
CVS: 300 stores
CVS has more than 7,500 retail locations.
Reuters
CVS is in the final year of its three-year plan to shutter 900 locations. The company says changing populations and buying patterns led it to reconsider how many stores it needed in certain areas.
LL Flooring: 200 stores
A store-closing sale at an LL Flooring location in California.
Getty/Mario Tama
LL Flooring, formerly known as Lumber Liquidators, is going out of business after failing to find a buyer following its Chapter 11 bankruptcy filing.
The chain announced it will shutter its remaining 200 stores this year, but it will be holding going-out-of-business sales at the locations before closing their doors for the final time.
Denny's: 150 stores
Denny's has over 15,000 restaurants in the US.
Justin Sullivan/Getty Images
Denny's announced on Tuesday that it's closing 50 restaurants by the end of 2024, with the other 100 to be shut down in 2025.
The 71-year-old chain is targeting "lower volume restaurants," though no specific locations have been publicly disclosed yet, according to its presentation.
Foot Locker: 113 stores
Foot Locker has more than 700 locations in the US, with even more around the world.
Bethany Biron/Business Insider
Foot Locker closed 113 locations during the fiscal quarter that ended on February 3. In the same period, the company opened 29 locations and relocated or remodeled 66 others.
Express: 107 stores
Express had 600 retail locations across three brands before it announced its plan to close some.
AP Photo/Terry Gilliam
Express announced in April that it would close 95 flagship brand stores and all 12 of its UpWest branded locations.
Rite Aid: 77 stores
Rite Aid says that it has about 1,700 stores, down from 4,600 in 2023.
Big Lots disclosed in its quarterly filings in June that it plans to close between 35 and 40 stores this year, after having closed 35 stores in the prior year.
Foxtrot: 33 stores
Foxtrot had locations in Illinois, Texas, and the Washington, DC, area.
Bethany Biron/Insider
The boutique convenience store Foxtrot abruptly shuttered its 33 locations in April after it came up $35 million short of its 2023 sales goal, Modern Retail reported.
Buybuy Baby: 10 stores
Buybuy Baby once had more than 100 locations, but most closed after the collapse of Bed Bath & Beyond.
Dominick Reuter/Insider
The former baby-focused subsidiary of Bed Bath & Beyond announced it is turning into "a digital-first brand" and closing its remaining stores by the end of the year.
Walmart: 7 stores
Walmart operates roughly 4,600 stores across the US.
FREDERIC J. BROWN / Getty Images
Walmart plans to close seven locations across four states, which it said did not meet financial-performance expectations. The company said earlier this year it planned for a total of 150 new or upsized stores in the next five years, starting with 14 new locations in 2024.
TJX: 3 stores
The TJX family of brands is T.J. Maxx, Marshalls, Sierra, HomeGoods, and HomeSense.
AP Photo/Charlie Neibergall; Gloria Dawson/Insider
The off-price retail company TJX closed two T.J. Maxx locations and one Marshalls store earlier this year. Those will be more than offset by the addition of 45 new US locations across the two brands, plus 83 more across the other three brands in the TJX family.
