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Business
Walgreens To Close 1,200 Stores Walgreens To Close 1,200 Stores
Walgreens To Close 1,200 Stores Walgreens plans to close about 1,200 stores over three years amid a decline in prescription drug payments and a rise in online competition. About 500 closures will come in 2025, the company announced in a statement released Tuesday morning, Oct. 15. Specific sites for store closures were not announced. Walgreens said its operating loss in fiscal 2024 was $14.1 billion, an increase of 104.5 percent compared to the year-ago period. Retail sales decreased 3.5 percent compared with the year-ago quarter, "reflecting a challenging retail environment and continued channel shift," Walgreens s…

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by Joe Lombardi
Business
7-Eleven To Close Hundreds Of Stores 7-Eleven To Close Hundreds Of Stores
7-Eleven To Close Hundreds Of Stores Convenience store chain 7-Eleven is closing hundreds of stores in North America. Parent company Seven & I Holdings said that the 444 locations were “underperforming.” They make up about 3 percent of 7-Eleven's total of around 13,000 outlets in the US, Canada, and Mexico. Specific sites of the stores have not yet been released. In announcing the closures, the company said that 7-Eleven stores saw a 7.3 percent decline in traffic in August, saying a "pullback in consumer spending has persisted beyond prior expectations" that has affected store traffic and sales growth "as consu…

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by Joe Lombardi
Business
Big Lots To Close Pair Of NY Stores Big Lots To Close Pair Of NY Stores
Big Lots To Close Pair Of NY Stores Discount retail chain Big Lots plans to close around 40 stores this year, according to a filing with the Securities & Exchange Commission (SEC). It currently has around 1,425 stores nationwide. Six stores in New York, Connecticut, and Massachusetts are slated to close, with both New York stores on Long Island. No store closures are scheduled for New Jersey. The company cited rising costs and inflation as reasons for the move and said a bankruptcy filing could be coming. Stores in the Northeast slated for closure are as follows: New York 260 Voice Road, Carle Place 231 Centere…

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by Joe Lombardi
Business
Friendly's In Palmer Closed After 62 Years In Business Friendly's In Palmer Closed After 62 Years In Business
Friendly's In Palmer Closed After 62 Years In Business Friendly's, the ice cream and restaurant chain and a mainstay on North Main Street in Palmer, has closed its doors for good.   The restaurant abruptly shut down the store on Monday, June 19, leaving a sign on the front window that reads, "This restaurant has permanently closed. THANK YOU for your patronage." It directed anyone in Palmer in the mood for a Fribble to the next closest Friendly's in Springfield. The Palmer location opened in 1961, according to reports.   A spokesperson for the company could not be reached, and it's unclear how many employees lost thei…

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by Josh Lanier
Business
CVS To Close 900 Stores As It Adjusts To Increasing Number Of Online Shoppers CVS To Close 900 Stores As It Adjusts To Increasing Number Of Online Shoppers
CVS To Close 900 Stores As It Adjusts To Increasing Number Of Online Shoppers Nearly one thousand CVS stores are set to close over the next three years as the retail giant continues to pivot away from retail and leans into the company's healthcare services. On Thursday, Nov. 18, the company announced that it planned to shut down at least 300 stores annually for the next three years as it re-evaluates its business strategy. The closures will begin in spring 2022. CVS made the announcement as it continues to contend with digital competition and online shopping, which was exacerbated during the COVID-19 pandemic, forcing the company to pivot its plans for the future. …

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by Zak Failla
Business
Godiva Chocolate Closing All US Stores - Including 5 In Massachusetts Godiva Chocolate Closing All US Stores - Including 5 In Massachusetts
Godiva Chocolate Closing All US Stores - Including 5 In Massachusetts Godiva chocolates is closing all of its North American stores. The mass closure will affect 128 stores in the U.S. and Canada - including 5 in Massachusetts and 3 in Connecticut. Outposts in Europe, the Middle East, and China will remain open. Godiva will stay open through Valentine’s Day, but closures will be completed by March, according to CT Post and other media sources. The news comes as a new Godiva CEO steps in, Nurtac Ziyal Afridi, who was appointed in mid-December 2020. Godiva said, in a press release, that its business has been shifting from in-store purchases to online o…

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by Kristin Palpini