9 Big Brands Closing The Most Locations in 2024 

We may receive compensation from the providers of the services and products featured on this website. Read our Advertising Disclosure.

The landscape of retail is undergoing a significant transformation, with major brands announcing plans to shutter a substantial number of stores in 2024. This trend, reflecting changes in consumer spending, online shopping habits, and the need for cost-cutting measures, impacts both the high street and shopping malls across the United States. Recent years have seen a shift as digital shopping experiences and financial pressures force brick-and-mortar stores to reevaluate their presence. Among those adjusting their retail strategies are household names, indicating a broader industry trend towards optimization and adaptation in an increasingly competitive market. Explore the 9 big brands closing the most locations in 2024, including The Children’s Place, Bath & Body Works, and Target.

This article provides a list of 9 big brands that are closing the most stores in 2024, marking a pivotal moment for the retail sector. From fashion retailers to pharmacy chains, the list covers a range of businesses faced with the difficult decision to reduce their physical footprint. It aims to offer readers updated insights into the current retail landscape, shedding light on the broader implications of these closures for shopping experiences and urban communities alike.

1. The Children’s Place

Facing a challenging retail landscape, The Children’s Place has embarked on a strategic pivot to ensure its survival and future growth. A number of initiatives to improve liquidity, lower debt, and adapt to shifting consumer behaviors that favor online shopping over traditional brick and mortar experiences highlight this pivot. Here are the key steps The Children’s Place is taking:

  • Strategic Alternatives and Financial Advisory: The brand is exploring strategic alternatives following lower-than-expected Q4 results. To navigate these financial challenges, it has enlisted the expertise of Centerview Partners, among other advisors, to bolster liquidity and fortify its balance sheet.
  • Financial Health Indicators:
    • Total liquidity as of February 3 is anticipated to be around $45 million, which includes $13 million in cash and cash equivalents and $32 million in excess availability under a credit facility.
    • A significant reduction in total debt is expected, shrinking by more than $100 million from the previous quarter and totaling about $277 million for the year.
  • Operational Adjustments:
    • The company has streamlined its mall fleet and enhanced its e-commerce presence, including sales through Amazon, to better align with consumer shopping preferences.
    • In an effort to reduce its physical footprint, The Children’s Place plans to close between 80 and 100 additional locations by the end of 2023, aiming to start 2024 with approximately 500 stores. This is part of a broader strategy initiated in 2013, which has already seen the closure of 586 stores, including 315 since the onset of the pandemic.

The Children’s Place is not just contracting; it’s also transforming. The transition towards becoming a digital-first business is evident in its decision to lay off 17% of its workforce, primarily affecting corporate office employees, and the early termination of its corporate office building lease in Secaucus, expected to expire in May 2024. These moves are part of a broader shift that has seen the company invest $50 million in omnichannel capabilities over the past decade. By embracing a digital-first approach, The Children’s Place aims to serve its young, digitally savvy customers through the most efficient and profitable channel while also positioning itself in the optimum brick-and-mortar locations to cater to the omnichannel shopping preferences of millennial and Gen Z consumers. This strategic pivot underscores the brand’s commitment to adapting to the evolving retail landscape, ensuring its relevance and competitiveness in the years to come.

2. Bath & Body Works

Bath & Body Works, a prominent name in the retail sector, has yet to publicly announce its store closure plans for 2024. Historically, the company has revealed such plans on an annual basis, with any announcements for the upcoming year anticipated to occur in late 2023 or early 2024. Factors that might influence these closures include:

  • Lease expirations
  • Performance metrics of specific locations
  • Strategic realignment of the company’s retail footprint to better serve its customer base

Despite the lack of a publicly released list for 2024, Bath & Body Works has a history of adjusting its store count as part of its operational strategy. In 2023, the company made a significant move by closing 50 underperforming stores, yet it also opened 60 new locations, showcasing a net increase in its retail presence. This approach indicates a dynamic strategy of not just contraction but also expansion into new markets or areas with higher consumer demand.

Looking ahead, Bath & Body Works has outlined a cost-cutting initiative that includes the closure of approximately 50 mall stores. This decision is part of a broader effort to save $200 million across 2023 and 2024. Despite these closures, the company is actively planning for growth in other areas:

  • New Projects: Bath & Body Works has 115 new projects in the pipeline. This includes the revamping of 25 White Barn Candle Company stores and the opening of about 90 new off-mall stores, which aligns with the changing shopping habits of consumers, who are increasingly favoring off-mall and online shopping experiences.
  • Store Count Adjustments: As of the announcement, Bath & Body Works operated around 1,802 storefronts, both in malls and standalone locations. The planned closures and openings for 2024 are aimed at optimizing this footprint in response to the ongoing impact of the COVID-19 pandemic on mall traffic and shifts in consumer behavior.
  • Future Openings: The company has committed to opening 26 new locations in the U.S. in 2024, which will adjust the total store count to over 1,613, indicating a strategic shift towards locations that promise higher foot traffic and sales potential.

Interested parties and consumers looking to stay informed about Bath & Body Works’ store closures and openings in 2024 should keep an eye on official company communications and financial reports for the most accurate and up-to-date information.

3. Tuesday Morning

Tuesday Morning, an original off-price retailer specializing in name-brand, high-quality products for the home, has been a staple in the retail sector since its inception in 1974. However, recent developments have led to significant changes in its operational strategy. As of 2023, the company operates approximately 490 stores across 40 states, but has announced plans to close up to 20% of these locations by the end of 2024. This decision comes as part of a broader effort to realign the company’s focus and resources in response to the evolving retail landscape.

  • Store Closure Details:
    • Initiation: The store closure process is slated to begin in Q1 2024 and will continue throughout the year.
    • Criteria: Stores selected for closure will be based on a variety of factors, including location, financial performance, and lease expiration dates.
    • Employee Support: Tuesday Morning is committed to providing severance packages and job placement assistance to affected employees.
    • Liquidation Sales: Significant discounts on merchandise will be available at liquidation sales held at closing locations.

In a strategic pivot towards digital expansion, Tuesday Morning plans to invest the savings from these store closures into enhancing its e-commerce platform and expanding its online presence. This move is expected to not only improve financial performance but also ensure long-term growth for the company. Despite the challenging circumstances, including a bankruptcy filing in May 2023 and subsequent delisting from the Nasdaq, Tuesday Morning aims to adapt and thrive in the current retail environment. The liquidation sale, offering discounts on a vast selection of home décor, toys, pet supplies, and more, signifies both an end and a new beginning for the company as it navigates through these changes.

4. Gap Clothing Stores

Gap Inc., a major player in the fashion retail sector, is undergoing significant changes as part of a strategic overhaul aimed at revitalizing its brand and adapting to the evolving retail landscape. This transformation involves the closure of numerous stores across North America and a shift in focus towards outlets and e-commerce platforms. The details of this strategic shift include:

  • Store Closures:
    • Gap Inc. plans to close 220 Gap stores and 130 Banana Republic stores by the end of 2024. This move will affect one-third of Gap stores and 30% of both Gap and Banana Republic stores across North America.
    • The closures are a component of a three-year plan that emphasizes the company’s outlets and e-commerce business, aiming for 80% of the remaining Gap stores to be situated in off-mall locations.
  • Adaptation and Growth:
    • In response to the pandemic and changing consumer behaviors towards online shopping, Gap Inc. is reinventing itself. Despite the closures, the company is expanding its more successful brands, Old Navy and Athleta.
    • Old Navy is projected to grow to $10 billion, with plans to open 30 to 40 new stores in the next three years. Athleta, known for its activewear, is expected to double its revenue to $2 billion within the same timeframe.
  • Strategic Focus:
    • By the end of 2024, the company’s physical retail presence will have decreased significantly because 350 stores, or about 43% of its North American Gap and Banana Republic locations, will be closing.
    • The focus is shifting from traditional mall locations to outlets and digital platforms, with plans to open an additional 30 to 40 new Old Navy stores and increase the total number of Athleta stores to 300 over the next three years. This decision stems from the underperformance of Gap and Banana Republic stores compared to the strong performance of Old Navy and Athleta.
    • This restructuring plan is aimed at growing the company’s digital business and increasing its market share in key categories, signifying a strategic pivot towards areas of proven success and potential growth.

Gap Inc.’s decision to close a significant number of its Gap and Banana Republic stores is a reflection of the broader challenges faced by major retailers in recent years, including the shift towards online shopping and the need for cost-cutting measures. The company’s strategy to focus on its thriving brands and expand its digital footprint is indicative of its efforts to adapt to the changing retail environment and position itself for future success.

5. Bed Bath & Beyond

Bed Bath & Beyond, a familiar name in the home goods retail sector, is undergoing significant changes as it announces plans to close 150 stores by the end of 2024. This decision reflects approximately 20% of the retailer’s total store count, marking a substantial reduction in its physical presence. The move is part of a broader strategy aimed at cost-saving, with the company expecting to save around $1 billion in annual costs as a result of these closures. Despite the significant number of store closures, the list of specific stores to be closed has not been released yet, leaving communities and employees in suspense about the future of their local stores.

  • Strategic Shifts:
    • Digital and Omnichannel Investment: In response to the evolving retail landscape, Bed Bath & Beyond intends to invest heavily in its digital and omnichannel capabilities. This strategic shift is aimed at enhancing the customer experience and driving growth by meeting consumers where they prefer to shop.
    • Merchandise and Pricing Strategy: Alongside digital investments, the company is focusing on improving its merchandise assortment and pricing strategy. This approach is expected to make Bed Bath & Beyond more competitive and appealing to a broader customer base.

In recent years, Bed Bath & Beyond has faced significant challenges, including filing for bankruptcy in 2023, which led to the closure of 866 stores. The company’s operational footprint as of May 30, 2021, included 1,478 stores across various brands such as World Market, Buy Baby, Christmas Tree Shops, Harmon, and Face Values. The recent announcement to close an additional 200 stores by the end of 2023, up from the original 60 stores announced in January 2021, indicates the severity of the company’s financial and operational challenges. These closures are expected to save the company between $250 and $350 million annually after one-time costs, contributing to a larger effort to stabilize and reposition the Dallas-based home goods company for future success.

6. Party City

Party City, known for its festive supplies and decorations, faces significant changes as it announces the closure of its Encinitas store on April 27, 2024. This decision reflects broader challenges within the retail sector and specific hurdles for Party City:

  • Reasons for Closure:
    • Pandemic Impact: Sales and profits significantly impacted during the coronavirus pandemic.
    • Increased Competition: There is rising competition from online retailers and pop-up shops.
    • Helium Shortages: Recent shortages have exacerbated operational difficulties.
    • Local Regulations: An Encinitas city ordinance prohibiting the sale of balloons filled with helium or gas directly influenced the store’s closure.

In response to these challenges, Party City has undertaken a series of strategic measures to ensure its sustainability and growth:

  • Financial Restructuring:
    • Filed for Chapter 11 bankruptcy protection, completing a restructuring in October 2023.
    • Eliminated nearly $1 billion in debt and closed underperforming stores.
  • National Store Closures:
    • Closing over 30 stores across the U.S., including in states like California, Georgia, and New York, among others.
    • Part of the reorganization includes shedding leases to streamline operations.

Despite these setbacks, Party City is not retreating from the retail landscape but instead pivoting towards a future-focused strategy.

  • Modernization Efforts:
    • Introducing category store-in-stores, with a focus on a balloon shop and customer engagement center as central features.
    • As of the latest filings, 186 next-generation stores have been opened or remodeled.
  • Digital and Supply Chain Investments:
    • Enhancing the digital presence and e-commerce platform to better serve customers online.
    • Plans to invest in improving the supply chain and product offerings, aiming to adapt to the changing retail environment and consumer preferences.

The closure of Party City’s Encinitas store and others nationwide marks a significant shift for the retailer, reflecting the broader trend of store closings and strategic adjustments among major brands and retailers in recent years.

7. Walmart

Walmart, the retail giant known for its vast network of stores across the United States, has announced a series of store closures that have caught the attention of both consumers and industry analysts. In a move reflecting the challenges even major retailers face in the current economic climate, Walmart has confirmed the closure of six stores in 2024, attributing these actions to financial underperformance and a strategic reassessment of their physical footprint. The closures include:

  • California Store Closures:
    • 2121 Imperial Ave. in San Diego
    • 605 Fletcher Parkway in El Cajon
    • 2753 E. Eastland Center Dr in West Covina
  • Maryland Store Closure:
    • 1238 Putty Hill Ave. in Towson

The company has made an effort to lessen the impact on its workforce by offering affected employees the chance to transfer to other Walmart locations.

Despite these closures, Walmart’s commitment to its physical and digital retail strategy remains robust. The company operates over 4,600 retail locations across the U.S. as of October 2023 and has laid out ambitious plans for the future. In the next five years, Walmart plans to build or remodel over 150 stores and renovate 650 locations in 2024 alone. This initiative is part of a broader effort to adapt to the evolving retail landscape, optimizing store locations while enhancing the shopping experience for customers in both physical stores and online platforms.

The trend of store closures is not unique to Walmart, as the retail sector has seen a wave of similar announcements from other big brands and major retailers. In 2023, at least 20 major retailers, including names like Foot Locker, Bath & Body Works, and Bed Bath & Beyond, announced the closure of as many as 2,847 stores in the U.S., underscoring the shifting dynamics of consumer spending and the growing influence of online shopping. Walmart’s store closures in 2024 add to this narrative, highlighting the ongoing challenges and adjustments retailers must make to thrive in an increasingly competitive market.

8. Best Buy

Best Buy, a leading name in the electronics retail sector, has outlined a strategic plan for the upcoming years, aiming to adapt its store formats to better meet customer needs and preferences. Here are the key components of Best Buy’s strategy:

  • Store Closure and Transformation Plans:
    • Plans to close 10 to 15 stores by 2025, with an additional 20 to 30 locations slated for closure in 2024.
    • Announced the closure of 17 stores in March 2023 as part of a routine annual review targeting underperforming locations. This follows a trend over the past five years, where approximately 100 Best Buy areas have closed, indicating a 10% reduction in physical locations.
  • Innovative Store Formats:
    • Experimenting with flagship options to replace larger stores, focusing on two main concepts:
      1. Opening small locations in out-of-state markets.
      2. Testing the feasibility of closing a large-format store and opening a small-format store nearby.
    • Aims to create more vibrant and exciting centers with updated technology, investing $200 million in traditional store formats, routine updates, and maintenance to adapt to market dynamics.
  • Future Plans and Commitments:
    • Despite the closures, Best Buy remains committed to providing exceptional service and innovative products.
    • Intends to open additional outlet centers and replace large-format stores with smaller ones nearby to maximize physical store retention through convenience.
    • These changes are expected to be implemented in the first half of 2025, with the locations of the store closures not yet revealed.

Best Buy’s approach reflects a broader trend among major retailers adjusting to shifts in consumer behavior and the rise of online shopping. By optimizing its store count and experimenting with new retail formats, Best Buy aims to enhance the shopping experience, ensuring it remains a go-to destination for electronics and technology products.

9. Target

Target, one of the major retailers in the United States, has announced the closure of nine stores across four states by October 21, 2023. The decision to close these locations is primarily attributed to theft and organized retail crime, highlighting a growing concern within the retail sector. Target has been proactive in addressing these challenges by:

  • Enhancing Security Measures:
    • Investing in additional security team members and utilizing third-party guard services to bolster in-store security.
    • Implementing theft-deterrent tools across the business to minimize losses.
    • On a limited basis, deploying locking cases for merchandise categories that are particularly prone to theft.
  • Investing in Technology and Training:
    • Making significant investments in cyber defense to combat retail theft, fraud, and abuse.
    • Developing custom tools designed to prevent and detect criminal activity more effectively.
    • Expanding the scope of data alerts and analysis to better capture fraudulent activity from organized crime groups.
    • Investing time and resources in training store leaders and security team members on best practices for preventing theft and ensuring store safety.
  • Community and Legislative Efforts:
    • Partnering with the U.S. Department of Homeland Security’s Homeland Security Investigations (HSI) division to combat retail theft on a broader scale.
    • Supporting the recent passage of the INFORM Consumers Act and advocating for the Combating Organized Retail Crime Act in Congress.
    • Creating organized retail crime task forces at the state and local level and hosting store walks with Members of Congress, state legislators, city officials, district attorneys, law enforcement, and local community partners to raise awareness and seek collaborative solutions.

Despite the closures, Target remains a significant employer in the affected markets, with 96 stores in the New York City market employing over 20,000 team members, 22 stores in the Seattle market employing nearly 4,000 team members, 32 stores in the San Francisco/Oakland market employing more than 6,400 team members, and 15 stores in the Portland market employing more than 2,500 team members. This demonstrates Target’s commitment to maintaining a strong presence in these communities, even as it navigates the challenges of retail crime and seeks to ensure the safety and security of its stores and team members.


Throughout recent years, the retail sector has witnessed a significant transformation, characterized by the closures of brick-and-mortar stores by major brands across the United States. From fashion giants like Gap to retail behemoths like Walmart, the shift towards online shopping has necessitated a reevaluation of physical storefronts, leading to the difficult decision of reducing their numbers. The closures, reflective of broader consumer spending trends and the challenges of retail crime among other factors, underscore a pivotal moment for both big brands and discount retailers as they adapt to an evolving marketplace. This adaptation is not just about downsizing; it’s about strategic realignments towards digital platforms, highlighting the importance of staying current with consumer preferences and the ever-changing retail landscape.

As we look towards the next year and beyond, these adjustments signal a new strategy for survival and growth within the sector. The decision to close stores, while challenging, also opens avenues for reinvention and the opportunity to better meet the needs of today’s shoppers. The significant implications of such store closures encompass both the potential for improved online shopping experiences and the revitalization of remaining physical locations to offer more tailored shopping experiences. As major brand stores navigate this transition, it is vital for consumers and industry observers alike to stay informed with the most up-to-date information on store closures and openings, ensuring they remain connected to the shifting dynamics of the retail world. Engaging with this evolving landscape, readers can explore a comprehensive list and further details on significant retail changes, ensuring they are well-informed about the shifts within their favorite shopping destinations.

What is a Personal Loan and How Does it work?


Is Big Lots planning to close stores in the coming year?

Big Lots has already closed approximately 50 stores in 2023, and it seems this trend will continue into 2024. Stores in states such as New York, North Carolina, and Illinois are slated for closure in the upcoming year.

Can you provide details on which Macy’s stores will close in 2024?

Macy’s has announced the closure of several stores in early 2024. These include locations in Arlington, Virginia; San Leandro and Simi Valley, California; Lihue, Hawaii; and Tallahassee, Florida.

Which Walmart locations are expected to shut down in 2024?

Walmart has plans to close several stores in 2024, including locations in San Diego, El Cajon, West Covina, and Granite Bay, California; Towson, Maryland; and Columbus, Ohio.

Do we know which Family Dollar stores in Ohio are closing?

Family Dollar is set to close several stores in Ohio, including those in Canton, Clinton, Collins, Columbus (two locations), De Kalb, Drew, and Durant

Click Here to File Your Taxes with Turbo Tax