Jan 31, 2025
In recent years, there's been a big shift in Americans' shopping habits. In the wake of the pandemic, consumers have gotten very used to doing their shopping online. And not surprisingly, that's led to an uptick in physical store closures.
In 2024, retail closures reached their highest level since the pandemic, according to Coresight Research, with a total of 7,325 locations shuttering. And things aren't exactly looking up for 2025.
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A projected 15,000 stores are expected to close between now and the end of December, and some of the retailers that are shutting down the most locations may surprise you.
10. Best Buy
You'd think a chain like Best Buy would be immune to store closures given the number of consumers who prioritize spending on electronics. But Best Buy is making plans to close 10 to 15 stores in 2025.
As of late 2024, Best Buy had more than 1,000 stores across the country. As part of its strategy, it plans to experiment with new store formats in an attempt to draw in more customers.
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9. Advance Auto Parts
Advance Auto Parts is making plans to close 523 corporate stores, four distribution centers, and 204 independent locations by the middle of the year.
Sluggish profits are largely driving the change, but given the chain’s roughly 5,000 stores in total, it’s fair to say that plenty of locations are sticking around, at least for now.
8. CVS
In 2024, CVS closed 586 locations, and it has plans to close another 270 stores in 2025.
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Be on the lookout for changes if you’re someone who relies on CVS for your prescription refills, as you may need to transfer them to another store or even another pharmacy.
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7. Foot Locker
For many people, a big part of the shopping mall experience is heading to Foot Locker for new sneakers, or to see what's in stock. That experience may be coming to an end for some shoppers, though.
In 2023, Foot Locker announced plans to close 400 mall locations by 2026, so it's fair to expect a substantial number of closures this year.
6. Kohl's
Kohl’s recently announced plans to close 27 stores this year, with those closures expected to take place by April. That may come as a shock given that Kohl’s has such a large following, but rest assured that Kohl's isn't exactly on the brink of disappearing.
Following these closures, Kohl's will still have more than 1,150 locations. The department store chain is focusing on shuttering locations that have been struggling.
5. Macy's
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Closing stores isn't exactly a new practice for Macy's, as the legendary department store has been shuttering locations for years.
But in 2025, Macy's is making plans to close 51 locations, including its landmark store in Philadelphia and others in nearby New York and New Jersey. And it begs the question: what retailer will malls find to put in its place? Only time will tell.
4. 7-Eleven
How many times have you stopped at a 7-Eleven in the course of a road trip to grab a Slurpee to go, or to satisfy a late-night snack craving? Unfortunately, in some areas, those options may soon start dwindling, since 7-Eleven is making plans to close some of its less popular locations.
The company plans to close 148 stores in 2025. But given its more than 13,000 store footprint, that leaves plenty of locations going strong — at least for now.
3. Walgreens
CVS isn't the only pharmacy chain to struggle with underperforming locations, as Walgreens has fallen victim to a similar fate.
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In late 2024, Walgreens announced plans to close around 1,200 locations. Of those, an estimated 333 closings are set to take place in 2025.
The pharmacy chain has been hurt in recent years by lower rates of prescription reimbursement, high levels of theft and rising costs. Online competitors in the pharmacy space, like Amazon, may also be hurting Walgreens.
2. Big Lots
Big Lots has been in big trouble. The retail giant filed for bankruptcy in 2024 following a string of financial woes. The good news is that some of its stores will continue to operate, but an estimated 601 will be shutting their doors in 2025.
The chain said that consumer purchases of home and seasonal products have slowed down in recent years due to rampant inflation, hurting its bottom line.
1. Party City
If you've long relied on Party City for everything from Halloween costumes to birthday gathering supplies, here's some bad news. The popular chain filed for bankruptcy in late 2024 and will be closing all of its 738 locations as a result.
The good news? Before closing completely, Party City is having a major goodbye sale, with some items being marked down up to 50% off.
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Maurie Backman has been writing professionally for well over a decade. Since becoming a full-time writer, she's produced thousands of articles on topics ranging from Social Security to investing to real estate.
