The retail landscape in 2025 is undergoing a dramatic overhaul, with iconic brands that once shaped American shopping culture now announcing store closures or major downsizing efforts. Shifting consumer habits, the relentless rise of e-commerce giants like Amazon and Walmart, and mounting operational pressures have accelerated this trend, signaling the end of an era for many household names.
Here’s a closer look at 13 cherished retail chains shutting their doors or significantly downsizing this year.
Kohl’s
Founded: 1962, Brookfield, Wisconsin
Founded in 1962 in Brookfield, Wisconsin, by Max Kohl, Kohl’s has served as a staple retailer of budget-friendly apparel and home goods for over six decades. The company, known for its celebrity partnerships and “Greatness Agenda” turnaround strategy, recently announced plans to close 27 underperforming stores by April 2025 due to declining sales and operational inefficiencies. These closures are part of a broader restructuring effort aimed at streamlining operations and improving profitability.
JOANN Fabrics and Crafts
Founded: 1943, Cleveland, Ohio
For over 80 years, Joann Fabrics has been a haven for crafters and DIY enthusiasts. Established in 1943 as Cleveland Fabric Shops, the company grew to become the nation’s largest fabric and craft retailer. Although the retail chain experienced significant popularity during the pandemic, rising operational costs and substantial debt led to financial struggles. Following a Chapter 11 bankruptcy filing in 2024, Joann is closing six stores this year as part of its financial stabilization efforts.
Macy’s
Founded: 1858, New York City
Since its founding by Rowland Hussey Macy, Macy’s has been synonymous with department store shopping thanks to its iconic Herald Square flagship and holiday traditions like the Thanksgiving Day Parade. Yet, the retailer is closing 66 stores in 2025 as part of a broader plan to shutter 150 locations by 2026. Macy’s is pivoting toward smaller-format stores and affluent markets to stay competitive.
CVS
Founded: 1963, Lowell, Massachusetts
Founded in 1963 as Consumer Value Stores in Massachusetts, CVS became one of the largest pharmacy chains in the U.S., revolutionizing pharmacy retail with its focus on convenience and health services. However, with declining foot traffic and overlapping locations, CVS has already closed approximately 875 stores as part of a broader plan to shutter 900 locations between 2022 and 2024, and it plans to close an additional 270 stores in 2025. These closures reflect changing consumer habits as more people turn to digital health solutions.
Walgreens
Founded: 1901, Chicago, Illinois
Since its humble beginnings in Chicago in 1901, Walgreens has been a neighborhood staple for well over a century. However, financial pressures from legal settlements, rising costs, and competition from online pharmacies have forced the chain to schedule the closing of over 500 locations in 2025 alone. The closures are part of a broader plan to shutter 1,200 stores by 2027 while refocusing on digital health services.
JCPenney
Founded: 1902, Kemmerer, Wyoming
Founded by James Cash Penney in partnership with Thomas Callahan and Guy Johnson as “The Golden Rule Store,” JCPenney was once synonymous with mall culture and affordable fashion for families. Struggling to adapt to modern retail trends, the chain continues its slow decline, with four more closures planned for 2025. After emerging from bankruptcy in 2020, the retailer has struggled to regain footing amid dwindling foot traffic in malls across America.
Sears
Founded: 1892, Chicago, Illinois
Once America’s largest retailer and a pioneer of mail-order catalogs that brought shopping into homes nationwide, Sears is now nearing extinction. After having filed for Chapter 11 bankruptcy back in 2018, the company is now reduced to fewer than a dozen locations. Moreover, rumors have it that Sears will see its final closures this year—marking the end of an era for one of retail’s most storied names. Despite all this, by the looks of it, it does seem like sears.com will remain active for online purchases for the foreseeable future.
Foot Locker
Founded: 1974 (as Woolworth subsidiary)
From its roots as part of Woolworths in the late 19th century to becoming a sneaker empire, Foot Locker has been iconic for sportswear enthusiasts. However, as a result of sinking mall traffic, the plans to close over 400 underperforming mall locations by 2026 as it shifts focus to prioritizing high-earning outlets and standalone “power stores” targeting niche audiences. Sneakerheads will have to scope out the chain’s newer, more curated spots.
Denny’s
Founded: 1953, Lakewood, California
Starting as “Danny’s Donuts” in California, Denny’s has long been a favorite for late-night diners and hearty all-day breakfasts. Nevertheless, aging infrastructure and shifting dining habits have prompted the chain to close up to 100 restaurants by the end of this year so that the company can focus on modernizing its menu and franchise model.
Best Buy
Founded: 1966, Saint Paul, Minnesota
Starting as Sound of Music, a small audio specialty store, Best Buy grew into a retail giant known for its wide selection of electronics and exceptional customer service. The chain thrived during the 1990s and early 2000s, outpacing rivals like Circuit City. Nonetheless, after closing 24 locations last year due to the rise of e-commerce and shifting consumer habits, the company plans to close up to 15 more stores in 2025, focusing on lease expirations and underperforming locations. The company aims to explore smaller-format stores and new product categories to adapt to the evolving retail landscape.
Advance Auto Parts
Founded: 1932 (as Advance Stores), Roanoke, Virginia
Since its founding, Advance Auto Parts has served professional installers and DIY car enthusiasts for nearly a century, offering everything from replacement parts to maintenance essentials. However, poor earnings and declining demand for traditional auto parts amid economic uncertainty have forced the company to announce over 700 store closures by mid-2025 as it seeks financial stability. The move is part of a restructuring effort to streamline operations and focus on profitability, marking a significant contraction for this once-dominant automotive retailer.
Office Depot
Founded: 1986, Boca Raton, Florida
For nearly four decades, Office Depot has been a trusted name for office supplies, furniture, and technology products. Once a dominant force in the industry, the company expanded rapidly in the 90s and even merged with OfficeMax in 2013 to strengthen its market position. However, the company has struggled to stay relevant as remote work and e-commerce have reduced demand for traditional products. In 2025, the company will close more underperforming stores as part of a shift toward digital sales and business-to-business services.
GameStop
Founded: 1984, Dallas, Texas
Starting as Babbage’s Software Store in Texas before becoming GameStop in the late ’90s, this gaming retailer used to be a haven for enthusiasts worldwide. Despite a brief resurgence during the meme stock craze of 2021, the company is closing another wave of stores amid declining physical game sales. Locations in quiet mall corridors and less-populated areas are the first to vanish, though a push for retro consoles and collectibles remains strong for survivors.