LAS VEGAS (KLAS) — Which of your favorite stores could be closing this year as a result of the pandemic?
We already saw several chains like Stein Mart and Pier 1 Imports liquidated, but others fared well — Target, Walmart and even Dick’s Sporting Goods.
Moody’s Investor Service, which studies the retail sector, says department stores, specialty and apparel stores suffered the most during 2020.
The industry’s struggling retailers are hoping that a nationwide vaccination campaign will bring them back from the brink.
But when you have restrictions that continue to limit the number of shoppers who can enter stores, like in California and other states, it can certainly make an impact.
Fifteen JC Penney stores will be closing in mid-March but not any in our state.
Neiman Marcus — one of the first major retailers to file for bankruptcy protection during the pandemic — is also on Moody’s list of vulnerable retailers, as is Tuesday Morning, Christopher and Banks, JOANN stores, Party City and Rite Aid.
Macy’s announced in February it planned to cut 2000 jobs and close one-fifth of its stores — roughly 125 locations over the next couple of years. It will not be closing any in Nevada and appears to be in better shape than some of its competitors, finishing out the year strong.
Bed Bath & Beyond is planning to close 200 stores by the end of this year but no locations in Nevada.