These Stores Could Be Closing in Idaho in 2021
Just in Boise Town Square Mall alone, Christopher and Banks and Abercrombie & Fitch closed it's doors for good just a few weeks ago while stores such as Sketchers, Bare Minerals, and Justice all suffered the same fate earlier in 2020. National relators across the board are being forced to close hundreds of their stores permanently. The shopping landscape is changing. While some companies were already struggling to stay a float before the pandemic, others have suffered losses too greatly because of it with consumers choosing to shop online.
Looking ahead, several major realtors have announced a number of stores they expect to close across the nation in 2021. While we don't know if and which Idaho locations will be affected, keep these stores on your radar. This could be the last year to visit some of these stores locally.
Macy's - Macy’s plans to close roughly 125 stores, a fifth of its locations, over the next three years. "Weaker" stores in lower-tier malls are the ones at risk. The company says this move will enable them to focus on locations with stronger sales as well as online operations. The Lewiston Center Mall location was one of the first to go during the first rounds of closing. Three stores remain in Idaho now in Boise, Coeur D Alene, and Idaho Falls.
Bed Bath & Beyond - Bed Bath and Beyond revealed in September 2020 the first 63 stores they would be closing as part of their plan and by the end of 2020, they were all closed. In late October, company officials then said that 200 other stores are expected to close by the end of the 2021 fiscal year. There are three locations in the valley, two up north, two in East Idaho and one in Twin Falls.
Victoria's Secret - Victoria's Secret closed approximately 250 stores in the U.S. and Canada in 2020. Interim Victoria’s Secret CEO Stuart Burgdoerfer told analysts in May, “We would expect to have a meaningful number of additional store closures beyond the 250 that we're pursuing this year, meaning there will be more in 2021 and probably a bit more in 2022." There are four locations in Idaho: Twin Falls, Idaho Falls, The Village, and Boise Town Square
Best Buy - Good news and bad news for Best Buy. While they saw a huge drop of customers shopping in-store, their online sales exploded! Digital sales skyrocketed 89% from November to the end of January, compared with the same period a year ago, which is insane! This is making Best Buy shift themselves in a new direction as they plan to shrink the number and hours of store staffers, in addition to close some of it's locations. There are approximately 450 leases coming up for renewal in the next three years. It's possible the company might be strongly reconsidering to move forward with renewing considering the boom they had online. There are five Best Buys in Idaho, two of which are in Boise and Nampa.
J C Penny's 2020 was a rollercoaster year for J.C. Penny's. The retailer first declared bankruptcy in May and then emerged from bankruptcy in December with having closed more than 150 stores in the process. The future of other J.C Penny's location is dependent on 2021 being an upward year for the company. There are six J.C. Penny's locations spread across southern Idaho and one in Coeur D Alene.