Economic Recovery? 13 Of The Biggest Retailers In America Are Closing Stores

Posted by on February 27, 2016 in Conscious Business, Economy with 164 Comments


By Michael Snyder | Activist Post

Barack Obama recently stated that anyone who is claiming that America’s economy is in decline is “peddling fiction”.  Well, if the economy is in such great shape, why are major retailers shutting down hundreds of stores all over the country?  Last month, I wrote about the “retail apocalypse” that is sweeping the nation, but since then it has gotten even worse.  Closing stores has become the “hot new trend” in the retail world, and “space available” signs are going up in mall windows all over the United States.  Barack Obama can continue huffing and puffing about how well the middle class is doing all he wants, but the truth is that the cold, hard numbers that retailers are reporting tell an entirely different story.

Earlier today, Sears Chairman Eddie Lampert released a letter to shareholders that was filled with all kinds of bad news.  In this letter, he blamed the horrible results that Sears has been experiencing lately on “tectonic shifts” in consumer spending

In a letter to shareholders on Thursday, Lampert said the impact of “tectonic shifts” in consumer spending has spread more broadly in the last year to retailers “that had previously proven to be relatively immune to such shifts.”

“Walmart, Nordstrom, Macy’s, Staples, Whole Foods and many others have felt the impact of disruptive changes from online competition and new business models,” Lampert wrote.

And it is very true – Sears is doing horribly, but they are far from alone.  The following are 13 major retailers that are closing down stores…

#1 Sears lost 580 million dollars in the fourth quarter of 2015 alone, and they are scheduled to close at least 50 more “unprofitable stores” by the end of this year.

#2 It is being reported that Sports Authority will file for bankruptcy in March.  Some news reports have indicated that around 200 stores may close, but at this point it is not known how many of their 450 stores will be able to stay open.

#3 For decades, Kohl’s has been growing aggressively, but now it plans to shutter 18 stores in 2016.

#4 Target has just finished closing 13 stores in the United States.

#5 Best Buy closed 30 stores last year, and it says that more store closings are likely in the months to come.

#6 Office Depot plans to close a total of 400 stores by the end of 2016.

The next seven examples come from one of my previous articles

#7 Wal-Mart is closing 269 stores, including 154 inside the United States.

#8 K-Mart is closing down more than two dozen stores over the next several months.

#9 J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.

#10 Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.

#11 The Gap is in the process of closing 175 stores in North America.

#12 Aeropostale is in the process of closing 84 stores all across America.

#13 Finish Line has announced that 150 stores will be shutting down over the next few years.

These store closings can be particularly cruel for small towns.  Just consider the impact that Wal-Mart has had on the little town of Oriental, North Carolina

The Town’n Country grocery in Oriental, North Carolina, a local fixture for 44 years, closed its doors in October after a Wal-Mart store opened for business. Now, three months later — and less than two years after Wal-Mart arrived — the retail giant is pulling up stakes, leaving the community with no grocery store and no pharmacy.

Though mom-and-pop stores have steadily disappeared across the American landscape over the past three decades as the mega chain methodically expanded, there was at least always a Wal-Mart left behind to replace them. Now the Wal-Marts are disappearing, too.

Of course there are many factors involved in this ongoing retail apocalypse.  Competition from online retailers is becoming more intense, and consumer spending patterns are rapidly changing.

But in the end, the truth is that you can’t get blood out of a rock.  The middle class in America is shrinking, and there just isn’t as much discretionary spending going on as there used to be.

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  1.' Robert Kennedy says:

    Not af all, if anything the economy is booming. Companies are leaving china, more people are opening there eyes and realizing that these big companies are the reason why there are no jobs. There are more self employed people now than ever including myself. I go outside and see more entrepreneurs and people bringing change than I have in my entire life. Remember it must always get darker before it gets light which q very true especially with the economy. The rich are losing money and the poor are becoming more wealthy. And honestly I hope every one of those CEO’s who destroy(ed) our land by dumping waste or whatever it is they have done get fined, jailed and hopefully shot for being the dirty horrible people they are.

  2.' John Elias says:

    It means more people are waking up and no longer supporting corporations. The greed of these corporations is what hurt the economy. Support and buy local business and keep money in Americans pocket.

  3.' Toàn Nguyễn says:

    Conscious Life News…I got 5 percent, and you? Test now…
    UmnHDcB (y) start now. ~~>

    I like this post: Barack Obama recently stated that anyone who is claiming that America’s economy is in decline is “peddling fiction”. Well, if the economy is in…

  4.' B Harata De Vizcaya says:


  5.' Christine Williams says:

    No. Just because a few companies make poor business decisions and over expand, does not mean the economy is on a downward spiral. The Prez has no control over their greedy decisions.

  6.' Jose Manuel Moreno says:

    Perhaps stores are closing because of many people would perfer having goods delivered to their door rather than having to go out to a shopping center.

  7.' Vickie Hibbard says:

    They are putting camps in Walmart to kill Christians that’s the truth mark of the beast don’t shop at Walmart its were the devil works look on u tube about walmarts FEMA camps u will die if u area Christian

  8.' David Hartley says:

    Yes, as is required by the economic system in place. It is in a perpetual state of decline by design. Not agreeing that stores closing equates to economic decline.

  9.' Tupu King Agafili says:

    Companies are shutting stores and cramping products in a few and employing a few to create more money for themselves.

  10.' Chrissi Wylde says:

    N – I think Americans are finally getting tired of the big box retailers and mega corporations. We’re finally fighting back to salvage small business from the ashes, and with it, the American Dream.

  11.' Laurie Bottenberg Mitchell says:


  12.' Ariel Louise White says:

    Now I may be a bit crazy but do you ever think it is not because of the economy but that they are closing so the locations can become “camps”… idk I may just be crazy

  13.' Chris Geron says:

    because more and more people are doing their shopping online

  14.' Bob Wert says:

    Y and a Big fat YES!

  15.' Laura Asselin Puckett says:

    Obama needs to quit lying to the American People

  16.' Mark Glomski says:

    The only economic problem in America that I see is rents are too high. Rents are over-inflated. There is a rent bubble that nobody is talking about.

    •' Annie Mazur says:

      very true we own but the works is slow here considered moving to get a leg up not buying just renting for a while.. not happening can’t afford rent on a decent place so we are staying put

  17.' Hrh Prince Augustus IV says:

    We’re witnessing the outlines of a new economy come to fruition. And it’s just the beginning.

  18.' Jayma Naicker says:


  19. Anonymous says:

    Hahaha. ..of course…

  20.' Barbara J Peterson says:

    I made this very comment a day or so ago… the economy is in collapse … not decline…that has already happened… it is not only this country but around the world

  21.' Jeb Jebberson says:

    Has been for me since early 2000’s.

  22.' Fred Buster Tripp says:

    Good. This will be a boom for small businesses on main Street,s all over America.

  23.' John Peck says:

    I prefer “click and order” as opposed to “brick and mortar”. Times are changing and big box just can’t sustain. Economy is rolling! Check with your local restaurants and see how they are doing. Home improvement stores are booming. I see new construction starting to take off. I am in mid Michigan. Things look good here.

  24.' Debi Anoatubby says:

    You also have to take into consideration that large corporations can close down slightly underperforming stores without much repercussion to their bottom line. They just do it as a money-saving measure. Then will open 20 new stores somewhere else. It’s just like not carrying items that don’t sell. They are a little beyond having to close a store because they can no longer afford to run it. To them it’s just moving around money.

    •' Annie Mazur says:

      absolutely they go where the money is too.. and they put many ppl out o business before hand just to assure their own profits supply and demand

  25.' D2 says:

    The economy at the moment may not be ideal, but most of these store closings is more economics 101 (supply/demand) than political. These corporations oversaturate the marketspace to get more (and because they can) and end up closing the poor performance ones. No harm, no foul in their eyes. Just good business sense.

  26.' Lynn Aragon says:

    that’s great news, that means small business will take the place of mega corporations!!! yay!!

  27. Anonymous says:

    let’s turn these places into homeless shelters..

    •' Richard Benjamin Smith says:

      They are opening new stores in nearby locations which are larger stores and also opening neighborhood markets, still playing with numbers. Research, research….. Will not be turned into anything, liability as they still hold the leases or ownership and will not be reopened as other retail outlets as it would be competition, as I said they open updated stores nearby. Know this first hand as I have watched this yearly in Evansville. Plenty of vacant retail by WalMart but more new outlets there as well. A giant shell game, tax play.

  28.' Dennis Galloway says:

    In my travels and in my area the economy is booming. From new developments to hiring signs, to new road construction … it’s amazing…. I personally am happy that Walmart is closing

  29.' Maureen Neuman says:

    NO. I am rather shocked at this post. If you are conscious news why can’t see you that the Wal marts of the world are taking over. All about the big box. I won’t shop at those most of there stuff is not made America. This is not an Obama thing if you are trying to bash him. This has got to do withAmerican waking up. This is NOT what I expect from ‘CONSCIENCE NEWS!!

  30.' Michael James says:

    Could it be that they should raise the minimum wage cause that would put money that people will spend!!

  31.' Christie Gil says:

    No I think people are buying local and refusing to continue patronizing evil faceless corporations.

  32.' Amy L Florio-Gholson says:

    All of the signs point to a major recession in the making. Housing, banking, major corporations scaling back, gas & oil instability, interest rates. Ask yourself this…..Who stands to gain from these things???? Look around. It doesnt take a rocket scientist to see that our economy is shifting subtly and in the background. Yet right under our noses!!

    •' Christine Lupo-Fodera says:

      Raise minimum wage you will create 5 million jobs probably in 6 months or less…tax the rich….xlose the loopholes and buy local stay out of chains whether it us eating or shopping

    •' Amy L Florio-Gholson says:

      Christine Lupo-Fodera Raising the minimum wage will put thousands of small businesses out of business. Large corporations are squeezing out the middleclass…and the majority of us are the ones who own and operate small businesses. We all need to do our part and that means supporting local business. buying locally…not from Walmart but from the mom and pop grocery down the street or the farmers market. Thats how “We the people” change Big business!! These corporations are thriving because “We” have supported them. That has got to change!! Walmart is NOT the only retailer downsizing. Its evidence that “We the people” are fighting back. Taxing the rich only gives these corporations more tax breaks and will not help those emplyees trying to keep up with what it costs to survive nowadays. If we dont spend our money with the big corporations theyll have no choice but to downsize. There piece of the pie will diminish!!

  33.' Ruth Heart says:

    Who better to know fiction, jus sayin-

  34. Anonymous says:

    The same rumour is spread the world over.

  35.' Stacie Ridner says:

    N they are closing some of the smaller walmarts , seems people rather shop at dollar general. But they are opening more of the bigger walmarts. I hate it when- they try to use scare tactics to get people stirred up. It’s like a form of control.

  36.' Trish Johnstone says:

    NO – saying Walmart’s are closing is reflective of a poor economy is like saying McDonald’s are closing is reflective of American’s not eating as well.

  37.' Annie Mazur says:

    really .. they always have and many because the fed didn’t subsidize or bail them out. but really those conglobs outgrew themselves ppl turned away from their product and its the way of business.. do you really want it to always be the same groups with the foot up .. some fail some are progressive whether we want to or not otherwise we are no better off than cuba.. lmao but spin it doctor please .. bernie sanders 2016

  38.' Kathy Laberdee says:

    Hopefully it’s because more people want goods made in the USA.

  39.' Todd Treat says:


  40.' Max VanDuyne says:

    N – This is what happens when massive companies decide that shutting down stores and firing workers is better than cutting their own bloated salaries. These liars and cheats know the gig is up, and they’re trying to cash out and run before they have to pay for their crimes.

  41.' Anita James says:

    AWESOME OPPORTUNITY… put solar canopy on all parking lots and turn buildings into housing for poor………use modular units…….incorporate hydroponic gardens inside….it can be a beautiful thing and provide power shelter and food for so many……..the buildings are already there…….get all the ultra rich churches that live TAX FREE to sponsor all the buildings……it would be a very CHRISTIAN thing to do………or make the ultra rich churches pay taxes….

  42.' Patrick McCoy says:

    This is the damn dumbest argument yet! Are you related to FOX?

  43.' Rebecca Franks says:

    Walmart closings shows a trend in how people are shopping now. Personally I have converted to Amazon Prime. Anything you could get at Walmart is now delivered to your home or business for free. I think the economy is in a boom. People are spending money and things are being developed right and left.

  44.' Holly Reine-Skinner says:

    Maybe now we can stop having child labour make all of the goods from China and other countries to supply these big chain retailers. We can become self-sufficient.

  45.' CJ Klingensmith says:

    If we’ve seen anything it’s that “barry” will say ANYTHING to make himself look better.

  46.' Maria Lynne says:

    Most are moving on their own or having their work done overseas whwhe there is no oversite and labor is low cost

  47.' Terry Haliburton says:

    They’re going out of business because they are greedy you can’t grow a business buy cheating your employees and then they have the nerves to think the community will support them no way even us poor folk have a choice when it comes to spending our money and when I found out Walmart was giving the shaft to the hardworking people there I took my business elsewhere!

  48.' Jay McFly says:

    If you listen to politicians you deserve to be duped lol

  49.' Leslie Nova says:

    Like locusts, Walmart has to jump from field to field. They decimate an area eventually, then they move on to greener pastures where the cycle begins again. Some places go down faster. That’s what this is.

  50.' Stephanie Nuzzolo says:

    I think bigger corporations are buying out the weaker ones like they always did. Bring back Food for Less!

  51.' Stephanie Nuzzolo says:

    What your seeing is the pressure for higher education. That will eventually cancel out the poor and middle class.

  52.' Collin Fen says:

    Why has Obama given the ok for all chicken processed in the US to now be processed in China. Thousands of US jobs lost, Many large and small stores are closing. WALMART has and is closing many hundreds of stores. Ah I think Obama may be incorrect

  53.' Angelica Sellers says:

    has nothing to do with the economy, people are tired of walmart and other big retailers, their policies, the way they take advantage of their staff, the lousy quality of their products, the miserable service, trashy stores and the fact that almost everything they sell is made in China or in low wage countries. as a fact it is a sign that America is on the road to recovery.

  54.' Kane Mantyla says:

    depends on how a successful economy is defined. Given middle and lower class will shop at big box retail more than ricj, and given 90% of newbs income is going to the top 1%, it makes all the sense in the world that the big box retailers would be losing money… funny because they forgot the Ford (er rather Ford’s wife’s) principal to pay their employees enough for them to be able to buy the products they are selling… dummies

  55.' Shawn Wholaver says:

    That’s a old building they had a new one built and hired 100 more employees

  56.' Janie Crumpacker Hiller says:

    Wal mart s not the cheaptest place to shop and people have found that out and are going somewhere else and get better service and sometihng made in America

  57.' Stephanie Rohr says:

    Ppl are hopefully sick of these big box stores. They are destroying the economy more than anything else.

  58.' Joshua Smallin says:

    I would say if walmart is closing it is because people are choosing not to shop there.

  59.' Mick Martin says:

    Yes .. It’s only the greed kicking in now ..

  60.' Shary Morrison says:

    Form collective businesses. Share resources and space.

  61.' Hermes Jimenez says:

    N… quit making shit up to scare people Conscious Life News… smh

  62.' Tim J McGrath says:

    Its also happening here in Australia.

  63.' James Wilson says:

    Bleed the U.S. dry now they will be looking at South America and Africa with all it Natural Resources .

  64.' Danny Ca says:

    They expanded 2 fast

  65.' David Andrew Foster says:

    No. People are tired of supporting large box stores and want local markets instead. They also have the option to shop online now.

  66.' Pablo Martin Salunas says:

    Yes because of this current PRS.

  67.' Kathryn Coburn says:

    I don’t think it has ever been on an upswing. They are dropping off the grid. They are not working, their on disability or on welfare

  68.' Sergej Ambrožič says:

    more purchases at local markets? 🙂

  69.' David Cabrera says:

    Most people hate shopping in megastores. The service is generally terrible because it’s workers are underpaid and without benefits. I pay a little more and go to my local mom and pop stores.

  70.' Heather Mac says:

    Everything that is bad will die, everything that is good will grow. It’s not a matter of economics right now, it’s evolution. <3

  71.' Nicky L Hilliard says:

    I worked for one of the largest truck manufacturers in the US, Mexico, Canada and overseas. We laid off almost 500 people because major corporations and small businesses dropped their orders. Just let that sink in.

  72.' Christine Lupo-Fodera says:

    You want to save America Shop Local And Stay With Small business save your communities your neighborhoods your job your neighbors job stay out of places like wal Mart they are terrible for the US

  73.' Victoria Colleen Richardson says:

    No, we are changing our buying habits, realizing made in China products don’t last. I am supporting made in my own country !
    Lasts longer and supports our own economy.

  74.' Victoria Colleen Richardson says:

    Changing buying habits made in China does not last one only polutes6

  75.' William Glen Emerson says:

    There may be another reason.Tons of food and supplies are being taken underground for storage before the…..? Apocalypse ? What are they expecting, or planning ?

  76.' Rick Hildreth says:

    The retailers overbuilt in bad locations and they underestimated the power of the internet retail market…I can literally go online to order groceries or anything else I need and have it delivered today or next day. Additionally, the products are cheaper when ordering online. This has nothing to do with Obama, the economy and the world is changing and people should realize this an get training in areas of where this growth economy is.

  77.' Vinny Zuzzeu says:

    For some the past 16 years have made them beyond rich. Everyone else has gone down hill

  78.' Jeanette Carlomagno says:


  79.' Marie Wray says:

    Because they aren’t being supported by exploiting other countries. Other countries are say, “Speak to the hand.”

  80.' Phillip Berry Sr says:

    Simply put, if you send jobs overseas people don’t have money to buy stuff o.k.

  81.' Valerie ElGhaouti says:

    Glad to see that mainstreet can rebuild, if anyone isn’t buried in student loan debt to open a business.

  82.' Brenda Nusbaum says:

    yes, let’s hope the large retailers are leaving… good bye wally world!

  83.' Mireille BeauvoirLamothe says:

    They are tired , so they are hanging their aprons !

  84.' Zuleyma Mayorga Castillo says:

    Hell yes..

  85.' Robert Clay says:

    BS….in central Arkansas we have four new malls being built within 30 miles of each other. Anchored by Bass Pro, Cavenders and Dave & Busters. Big box stores are an animal that is going extinct. Walmart is closing Neighborhood stores and even smaller convenience type stores in very small market.

  86.' Thomas Hornyak says:

    When Americans are unemployed and underemployed they can’t buy shit. When they don’t buy shit stores don’t make money. When stores don’t make money they get closed. No rocket science hear. America is destined to become the next third world country. Then the top 1% will have all the money and nothing to buy. Their all a bunch of dipshits shooting themselves in the foot.

  87.' Jack Palin says:

    Small businesses are making a comeback and internet businesses are growing! The economy is going strong because of them and the big box businesses are doomed!!

  88.' Joseph Laumeyer says:

    Walmart did well in the downtown because it caters to the least well off by design. It would seem that shuttering some of their big box stores would be proof the economy is improving. Also they misstepped into the convenience store business and had to quickly close them after they learned what works for a big box doesn’t work for convenience stores.

    Sears has been on the rocks for years. This is sad. They were the Amazon of their day. If they had adapted, I believe they could have been strong rather than struggling today.

  89.' Joaquin Oiseaux Olson says:

    about time we move away from BIG biz companies, and support local.

  90.' Jeremiah Jennings says:

    But Obama is a god! Our Lord and Savior would NEVER lie to us! All you haters out there better put aside your facts and statistics and proof and jump on board or else! Now let me pull a few more excuses out of my butt trying to justify his lies…errr…ummm…truths, yeah, that’s the ticket!

  91.' Becka Sampaio Bossons says:

    A lot of these companies have been hurting for some time. Also, I personally try my hardest not to shop at Walmart because of who they are. More importantly, how many of these stores have booming online sales? I LOVE Target but I will order online from them. I do a lot of online shopping. Blockbuster closed in part because having movie rental stores didn’t make sense any more. Same with these stores. You can order something online and have it the next day. I wouldn’t say our economy is hurting just because of this article

  92.' Brian D Fuller says:

    Online shopping. Period.

  93.' Deb De Vito says:

    There are many reasons why retailers close … not just because of the economy … the reasons could be specific to the areas.

  94.' Cindy Howard says:

    we are tired of china crap and prefer to support our locals

  95.' Tom Stowe says:

    Economic House of Cards that could keep growing as long as the winds of greed don’t blow too hard.

  96.' Peggy Deardorf says:

    One answer to this is on-line shopping don’t you think?

  97.' Ramon Molina-Diaz says:

    No. The economy is doing great. Walmart is doing bad because they are greedy and treat their employees bad.

  98.' Starre Muir says:

    Monopolies like Walmart may have squeezed some out.

  99.' Stephane Vachon says:

    War is to come… vote for Trump!

  100.' Lynley Kerr Hogan says:

    Good. Bring back the mom and pop shops. I want the milk man and a house call from a doctor!!!

  101.' Marlowe Brown says:

    They are shutting down because everyone is shopping online perhaps? No need for storefronts. Just big warehouses.

  102.' Tom Smith says:

    Brick-and mortar retailers are getting their asses handed to them by Amazon and other online retailers. But let’s blame the black guy.

  103.' Yasmin Siu says:

    Internet shopping

  104.' Toni Shaddy says:

    I shop small businesses. They are the backbone of our economy. And treat employees as assets. Plus, the money I spend goes into the local economy, not siphoned into overseas accounts.

  105.' George Rohr says:

    Maybe Wal*Mart opened too many stores !!!!

    •' Stephanie Rohr says:

      It serves them right..they couldn’t just stay in their own element,, they had to go getting into the grocery business and it didn’t work..ppl thinking they are saving there are not reading ads..

  106.' Susan Gunn Patrick says:

    It doesn’t take a rocket scientist to know there is going to be a very big crash soon. All the signs are there.
    Hold on to your pants people.

  107.' Melody McClay says:

    No! Walmart under pays its workers. It was into a huge expansion phase the last 10 years. They opened in small towns and caused many local businesses to close. Now that those small towns can’t meet the growth patterns that they want to ensure the corp dividend for earnings, they are closing and leaving these small towns with no jobs and no retail store. Corp greed is part of the same old problem that led us to the downturn.

  108.' Andrew Hondros says:

    good there rats

  109.' Diane-Frances Champagne says:

    N. What’s shutting them down is greed. Plain and simple, if the senior management, owners or stockholders feel the slightest pinch in their wallets it’s the little guy that pays for it. Tenfold. I’d rather buy small and local.

  110.' Brenda Cunningham says:

    Well, since the pic is of Walmart, maybe activism works. I know many, many people who won’t shop there. And closing often means the owners are after their own bottom line and answering to stockholders and, as usual, the workers and the communities be damned. That’s business. At least that’s business in America.

  111.' Marcus Butler says:

    There 17trillion dollars in debt. How can that possible be good.

  112.' Brenda Cunningham says:

    And, I order online more and more partly because I don’t want to risk getting shot.

  113.' Jeffrey B Nolan says:

    Fuck Wal-Mart, glad they’re are closing. Build Main Street again. Start a small business.

  114.' Evan Schwartz says:

    Majority of people shop online/Amazon. In the next 5-10 years we will see a great deal more of this.

  115.' Neelam Rai says:

    * if anyone studied basic economics, just like the’s historical graph has upward and downward spiral/spikes…

    * we have smarter consumers now

    * Internet marketplace is taking over, such as Amazon/Ebay/Etsy/etc

    * more local supports

  116.' Tracy L. Earwin Earwin says:

    No. Period!

  117.' Lorry Jordan says:

    They are shutting down stores because people are buying thier products on line.

  118.' Eduardo Salazar says:

    Isn’t the economy always tanking when the presidential race is on?

  119.' Robert Urr says:

    where you been ,cln? this shit has been going on since that foreign cultist said i sware. are you part of the dumb or the clueless?

  120.' Russ Ridlington says:

    Definite downside but it is very important for the consumer to keep spending.

  121.' Tsegaye Zinabu says:

    the end of vampire led economic system-failure!

  122.' Sreebala Kumar says:

    Economy is expecting to add more missed parameters … World is in right track in search of good lesson…

  123.' Billy Leap says:

    Good get rid of all wal junks stores.

  124.' Fran Fran says:

    Y. They are narrowing the scope of where poor people can buy things. Closing stores so they can profit more and we have less places we can buy and the smaller the area the less buying power we have to work with.

  125.' Cindy Adoniz Paulits says:

    Because “brick and mortar” is being replaced by Internet sales. This does not indicate a decline in economy, it is a shift in retail. Stop the propaganda…..

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