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As Retail Brew has previously reported, more than a third of retail managers expect to open stores this year, but thus far, major closures have dominated headlines, including Macy’s closing 150 locations and Dollar Tree’s plan to shutter nearly 1,000. Here’s a roundup of recent and upcoming ribbon-cuttings and farewells.
BJ’s Wholesale Club
BJ’s plans to open five new storefronts this spring, and the 12 it will open this year are more than it’s launched in the past two decades. These new stores will open in Florida, Indiana, South Carolina, and Tennessee.
- Each store will employ roughly 150 workers.
- “It wasn’t too long ago that we stopped opening clubs because we really didn’t know how to do it well,” Chairman and CEO Bob Eddy said during a Q4 earnings call last month. “We weren’t doing it profitably. We didn’t have enough members when we opened the clubs.”
Lids
Lids opened its third Lids Hat Drop concept store last month, in St. Louis. The company launched the Hat Drop in an online-only format in 2022, but has since opened physical locations in New York and Houston.
- The Hat Drop stores offer exclusive and limited edition products.
- “When we look at our fashion headwear numbers, St. Louis, especially out of the Galleria, is in our top 10 markets,” Lids President Bob Durda told the St. Louis Business Journal.
Walmart
Walmart has reportedly added another three locations to its list of store closures, including two in California and one in Maryland, according to Business Insider. That brings the total this year to six.
- In January, the company announced it would build or renovate 150+ locations over the next five years, and renovate 650 in 2024.
- Walmart spokesperson didn’t tell USA Today if the closures were happening for sure, but explained the company’s justification for shutting down underperforming locations, saying it undertakes a thorough review.
“We have more than 5,000 Walmart stores and Neighborhood Markets across the US, and unfortunately, some don’t meet our financial expectations,” Senior Director of Global Communications and Corporate Affairs Charles Crowson told USA Today. “While our underlying business is strong, these stores haven’t performed as well as we’d hoped.”