The largest chains to close stores in 2018

Photo: depositphotos.com

The new year could be another difficult year for traditional retailers. After the closure of more than five thousand stores in 2017, there was evidence of stores that would close in 2018.

"If you receive a gift card from one of the following stores, spend it right away," says economist Clark Howard.

The list of largest retail stores, which will close in 2018, is expected to grow.

Sam's club

11 January, the company issued a press release in which it announced the closure of 63 stores, where about 9 people work 450.

It happened the same day when the White House thanked Walmart (which owns Sam's club) behind intention to boost salaries and give workers bonuses as a result of the new tax reform, which implies a reduction in the corporate tax rate.

Macy's - 11 stores

Almost a dozen department stores Macy's will soon close its doors forever. In a press release, the company announced the closure of 11 stores. Macy's. This is part of a retailer’s plan to close near 100 stores, as announced in August 2016.

Macy's intends to close more 19 stores at the end of the lease term. In most cases, the sale will start on 8 on January 2018 of the year and last for approximately 8-12 weeks.

The following stores Macy's close at the beginning of 2018:

1. Laguna Hills Mall, Laguna Hills, CA
2. Westside Pavilion, Los Angeles, CA
3. Novato (Furniture), Novato, CA
4. Stonestown Galleria, San Francisco, CA
5. The Oaks, Gainesville, FL
6. Miami (Downtown), Miami, FL
7. Magic Valley Mall, Twin Falls, ID
8. Honey Creek Mall, Terre Haute, IN
9. Birchwood Mall, Fort Gratiot Township, MI
10. Fountain Place, Cincinnati, OH
11. Burlington Town Center, Burlington, VT

Sears and Kmart - 103 stores

A few days after the end of the holiday season Sears Holdings announced that it is closing over 100 stores. The retailer said that 64 Kmart and 39 Sears will be closed from early March to early April 2018. Sales will begin on January 12.

Last year, the company closed more than 350 stores.

Bon-Ton – 40 stores

Department Store Network Bon-ton stores closes 40 unprofitable stores in 2018 year. The retailer has 260 stores throughout the country.

J. Crew - 50 stores

After reporting a decline in sales of 12% for the third quarter, it became known that J. Crew will close dozens of stores by the end of January 2018.

Gap and Banana Republic - 200 stores

Company Gap Inc. plans to close 3 stores in the coming 200 of the year Gap and Banana Republic. The company announced this in September 2017.

At the same time Gap Inc. Will open 270 stores for its popular brands: Old Navy and Athleta.

Teavana — 379 stores

Bad news for tea lovers! Starbucks closes each of its outlets Teavana. Most of the 379 stores Teavana turned out to be unprofitable. Starbucks said she’s trying to improve sales with creative merchandising and new store designs, but that just doesn’t work.

According to the press release, most stores Teavana will be closed in spring.

Ascena Retail Group - at least 268 stores

Ascena Retail Group, Retailer of women's clothing, plans to close hundreds of stores. In June, 2017, company executives announced that 667 stores are part of an optimization program.

At least 268 from these stores will certainly be closed by July 2019.

Michael Kors - from 100 to 125 stores

In the next two years Michael Kors closes from 100 to 125 retail stores.

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