Hugely popular New Jersey retailer is closing 1,200 stores

2024 was not a banner year for retailers.

The difficulties of the times continue and more and more customers are opting for a digital or online experience.

Over 4,000 stores have reportedly closed across the United States.

Many of these were large retailers that continued to consolidate and cut costs massively.

What Types of Businesses Close Fastest?

Discount and department stores were hit hard.

Family Dollar closed 600 stores, claiming it had failed to meet expectations.

Walmart and Target closed some of their underperforming locations but expanded to build new stores in other regions.

It was also difficult for fashion stores.

Rue 21 closed its 540 locations after the company filed for bankruptcy and liquidated assets across all stores, while Express was forced to close more than 100 locations.

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One of the more surprising closures to me was the pharmacy chain closures.

Rite Aid has closed 520 locations as it restructures its Chapter 11 bankruptcy case.

CVS has closed locations with less than stellar performance, but decided not to close them all at once. Instead, they have been “reducing” the number of branches for several years.

Walgreens is planning a similar approach.

Why is Walgreens closing so many stores in 2025?

AOL reports that Walgreens will close 1,200 stores due to declining consumer spending.

There are two main reasons for the pharmacy giant’s consolidation.

First, Amazon is changing the game.

Many used to stop by Walgreens to purchase items other than prescriptions.

Thanks to Amazon, you can purchase any item you would normally get at a pharmacy chain and, in some cases, have it delivered to your door the same day.

Second, pharmacy chains, including Walgreens, have difficulty getting “drug middlemen” to provide reimbursement.

There are 100 Walgreens locations in Pennsylvania, 469 in New York and 254 in New Jersey.

As of this writing, Walgreens has not yet announced the more than 500 stores it plans to close in 2025.

Many of these stores may also no longer be available next year.