October 23, 2024
Over the last six weeks since filing for Chapter 11 bankruptcy protection on September 9, Big Lots has provided a list of 553 store it plans to close. The first batch was announced on September 12 and included 344 units. Then on September 23 another 49 stores were added, followed by 58 on September 30. So far in October, 46 stores were announced on October 8 and another 56 on October 18. Prior to filing, the Company operated 1,387 stores in 48 states. The planned closures will leave Big Lots with 834 locations, down 40% since the beginning of September.
The closures announced in September are marked on the map in purple, while the more recent October announced closures are marked in green.
Bloomingdale's, a division of Macy's, will open its fourth Bloomie's store on November 14 in Shrewsbury, NJ. The 20,000 square-foot location will be the first Bloomie's to feature an all-women's assortment, with a curated collection of contemporary ready-to-wear accessories, beauty, and fine jewelry. The shop joins full-line Bloomingdale's stores in Short Hills, Bergen, Willowbrook, and Bridgewater, and outlets in Princeton and Jersey Gardens. As shown in the map below, Bloomie's debuted in August 2021 in Fairfax, VA, with additional locations in Skokie, IL and downtown Seattle, WA.
REI
REI plans to open six new stores in 2025, a somewhat smaller slate compared to the 10 openings planned for 2024. New stores will open in Amherst, NY; Chico and Elk Grove, CA; and Durango, CO. Two stores will be relocated in Carlsbad, CA and Lynnwood, WA. For 2026, new stores are planned for Prosper, TX and St. George, UT.
Over the last seven years, REI has opened a net 29 stores, of which half have opened within the last two years. The adjacent chart shows REI's store growth between 2017 and 2024.
BuyBuy Baby will be closing its 11 physical stores by the end of this year, stating, “BuyBuy BABY is transforming into a digital-first brand, focusing all our energy on providing an exceptional online shopping experience." All BuyBuy BABY physical store locations began closing sales on October 18.
Dream on Me, a baby furniture DTC manufacturer, acquired the brand and digital assets of BuyBuy Baby in June 2023, and was the successful bidder for its 11 stores for $1.17 million at a bankruptcy auction. Plans initially called for the opening of 100 to 200 stores, however that appears to be off the table.
The adjacent map shows the 10 remaining locations set to close by December, according to our Retail Openings & Closings tracker. The 11th store, located in Amherst, NY has already closed.
Walgreens
Walgreens announced aFootprint Optimization Program that includes plans to close 900 to 1,000 stores primarily across the U.S. by the end of FY27.Including the remaining 300 stores approved but not yet closed under the Transformational Cost Management Program, the Company expects to close an aggregate of 1,200 to 1,300 stores over the next three years, including approximately 500 stores projected to close in FY25.
RetailStat will be posting these closures in its Retail Openings & Closings tracker as they are announced, so be sure to check back often for updates. The adjacent map shows 13 closures expected to occur for November.
The information contained in this newsletter is compiled from sources which RetailStat, LLC (“RetailStat”), does not control and unless indicated is not verified. Its contents are not to be divulged. RetailStat, its principals, and writers do not guarantee the accuracy, completeness or timeliness of the information provided nor do they assume responsibility for failure to report any matter omitted or withheld because of their negligence.
