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Other fatalities include Foot Locker, which is expected to cut down 400 stores in primarily mall locations by 2026, and Advanced Auto Parts, planning closures of more than 700 locations by mid-2025. These closures are not isolated incidents but rather part of a broader trend where companies need to recalibrate in a dire economic environment.
Big Lots, American Freight, Family Dollar, Denny's, and Wendy's are also among the retailers having to tighten their operations, scale back, or even shut down entirely. The looming closures are a stark reminder of the decreasing spending power among lower-income consumers, which is impacting entire sectors of the retail industry.