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Sears may be making headlines for its massive number of store cuts and layoffs, slated to take place before the end of the year, but it isn't the only national retailer going through with some strategic downsizing. According to USA Today, Sears is one of 12 major retailers that have been significantly cutting the number of their retail locations over the past two years.
Mall staple Christopher & Banks has 16% less stores than it did two years ago. Destination Maternity's brick-and-mortar presence is down 6.6%, with Abercrombie & Fitch close behind at a 5.5% loss of stores. New York & Co. let go of 5.2% of its retail locations in the past two years, and JCPenney stores are down by 3.7%. However, no one came close to Sears's downsizing frenzy: 40.2% of Sears-owned locations have closed down in the past two years.
· 12 retail chains closing stores the fastest [USA Today]
· European Brand Primark to Enter the US Through Sears [Racked]
· Sears Will Copy Zara's Fashion Strategy [Racked]