Analysts at UBS project the total number of US retail closures could reach 45,000 over the next five years, driven by changing consumer trends and e-commerce.
This action is prudent to support the long-term health of the company,” said Advance Auto Parts CEO Shane O'Kelly, emphasizing the need for strategic store closures.
Walgreens plans to shutter about 25% of its 8,700 US locations over the next three years, starting with 500 in 2025.
Even healthy retailers like Walmart and Target periodically review and trim their store fleets, reflecting the ongoing need to adapt to market conditions.
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