Essential national retailer chain closing more stores (see where)
It's not about retail theft or even falling sales, but this struggling chain has plans to close more stores than planned.
Retailers must evolve to meet changing consumers demands. They also have to continually evaluate their brick-and-mortar footprint to account for changing populations and demographics.
Some restaurants, coffee shops, and convenience stores, for example, were built because they were near offices. That allowed office workers to conveniently grab coffee, lunch, and items they might need for home.
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If some of those offices close or move to hybrid work models, nearby businesses become less neccessary. Fewer people means fewer cups of coffee, sandwiches, and other things sold.
That has led thousands of restaurants, coffee shops, pharmacies, and convenience stores to close. The closures said nothing about the overall health of those companies. They happened because the people who supported those locations simply no longer walk by those stores as often, or maybe even at all.