12 retail chains that are closing stores
Sears isn’t alone among retailers to rapidly closing stores
Sears stores continue to be even more of an endangered species as the retailer closes more locations.
And Sears isn’t alone.
There are 12 retailers in the very broad Russell 3000 index, including Sears (SHLD), apparel seller Christopher & Banks (CBK) and toy builder Build-A-Bear Workshop (BBW) that have fewer stores now than they had two years ago, according to a USA TODAY analysis of data from S&P Capital IQ.
Keep in mind that this analysis only evaluated retailers that reported the number of stores they had open in the most recent quarter and two years ago.
Investors are certainly not pleased when retailers shut stores. That’s almost guaranteed to cut revenue. Shares of the 12 retailers that have closed stores over the past two years are down an average of 3.7% this year as investors shift their retail money to companies that are growing.
Sears is the fastest shrinking retailer — by far. It reported 2,302 stores as of its latest quarter, S&P Capital IQ says, which is down 40% over the past two years. Just this year the stock is down 27%.
Source: Usatoday-12 retail chains that are closing stores
