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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
New Jersey's Last-Standing Sears Store Says It's Closing New Jersey's Last-Standing Sears Store Says It's Closing
New Jersey's Last-Standing Sears Store Says It's Closing And then there were none. New Jersey's last-standing Sears store, located in Jersey City, appears to be closing. The store at Newport Centre announced a store closing sale on Friday evening, Jan. 5 on Facebook. A voice answering service said the store was closed when Daily Voice called Friday at 7 p.m. Daily Voice has reached out to the Simon Property Group, who owns Newport Centre, and Sears corporate for comment. Sears Holdings filed for bankruptcy in 2018. The Jersey City store became the final Sears in New Jersey in 2020 after the store in Hackensack — a local landmark — shutter…

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by Cecilia Levine
Business
Stop & Shop To Shutter Another NJ Store Stop & Shop To Shutter Another NJ Store
Stop & Shop To Shutter Another NJ Store Stop & Shop has announced the closure of its third New Jersey store this year. The Highland Park grocery store is slated to close sometime in 2023. A Stop & Shop spokesperson cited operating performance as the reason for not renewing the lease at 424 Raritan Ave. Stop & Shop closed stores in Paramus and Dayton earlier this year.

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by Cecilia Levine
News
Target To Replace These Shuttered NJ Kmarts Target To Replace These Shuttered NJ Kmarts
Target To Replace These Shuttered NJ Kmarts Another Kmart store has closed its doors leaving just two left in all of New Jersey. The Kearny store on Passaic Avenue closed on May 2, NJ Advance Media reports. The storefront will be replaced by a Target store, according to Target's list of upcoming locations.  Target will also be replacing the Kmart that closed in Wall on Route 35, and the one in Somers Point on 250 New Road. Only two Kmart stores remain in New Jersey: One in Avenel and the other in Westwood.

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by Cecilia Levine
Business
Kings Food Market May Close Several New Jersey Stores Kings Food Market May Close Several New Jersey Stores
Kings Food Market May Close Several New Jersey Stores Several New Jersey Kings Food Market stores could be closing in January 2021. WARN notices were issued to 439 employees at seven locations, according to the state's Department of Labor and Workforce website. The following stores appear to be closing come Jan. 12, 2021: Bernardsville Gillette Hoboken's River Street store Maplewood Parsippany (Corporate Headquarters) Ridgewood Warren A Kings spokesperson told TapInto that Acme was in the process of purchasing 19 locations, while the grocer had plans to sell other locations to different entities. "They could close," she said, "but everybody…

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by Cecilia Levine
Business
Lord & Taylor Closing All U.S. Stores Including 9 In NJ Lord & Taylor Closing All U.S. Stores Including 9 In NJ
Lord & Taylor Closing All U.S. Stores Including 9 In NJ Lord & Taylor is going out of business. The company initially said it would be closing 19 stores after filing for Chapter 11 bankruptcy earlier this month. On Thursday, Lord & Taylor said it will instead be closing all of its stores, including the nine in New Jersey, after 194 years in business. "While we are still entertaining various opportunities, we believe it is prudent to simultaneously put the remainder of the stores into liquidation to maximize value of inventory for the estate while pursuing options for the company's brands," said Ed Kremer, Lord & Taylor's chief restr…

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by Cecilia Levine