Top 8 retail giants who will close stores this year

In 2016, eight trading companies will completely close or significantly reduce the number of sales points. This is due to unprofitability, poor management, and changes in consumer demand. All this leads to the fact that weak stores are closing, others are reducing the number of sales points across the country.

Below are listed stores that have either already started to close or will make it by the end of 2016.

Ralph Lauren

Ralph Lauren plans to cut 8% of employees and close more 50 stores. CEO Stephen Larsson plans to reduce the management structure, on average, from nine steps to six.

Macy's

Macy's plans to close 40 stores and cut 4500 jobs by the end of the summer. CEO Terry J. Lundgren lamented the company's "disappointing 2015 sales" and lackluster performance. The company plans to open five new stores in 2016.

Barnes & Noble

Barnes & Noble may be the only lucky one on the list. The company decided to close fewer stores in 2016 than it did in all time since 2000. Surprisingly, the company's online sales fell, which was not the case for retail sales.

Sears

The company announced in April that it plans to close unprofitable stores this summer and has already begun the process of closing 68 Kmart and 10 Stores stores.

“The decision to close stores was difficult, but is a necessary step to strengthen our company and restore Sears Holdings to profitability,” said CEO Edward S. Lampert.

Office Depot

It was expected that Office Depot will cease to exist until the end of the year, merging with Staples. But the deal was rejected by the federal regulator, and the network continues to exist independently. Part of the financial strategy involves the closure of stores. Nine of them have already closed in the first fiscal quarter. In the 2016 year, in total, it is planned to close 50 points.

Staples

The company is also steadily declining. In 2015, she closed 73 with her store. This year they plan to close another 50.

Walmart

In January, the company announced plans to close all Walmart Express 102 stores, as well as the 52 market in the United States.

Gap

Gap faced problems both in America and abroad. For example, the company has closed more than 50 stores in Japan. North American companies were not so badly hit, but 2016 was expected to close 14 stores Gap, Old Navy and Banana Republic in XNUMX.

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