In 2023, several major retail chains are planning to shut down or reduce their physical store presence. Brands like Morphe, Party City, Sears, and Macy’s are either closing stores or shifting entirely online due to financial challenges, declining foot traffic, and the rise of e-commerce. Consumers should visit their favorite stores soon to enjoy exclusive deals before closures are finalized. The retail landscape is evolving, emphasizing online shopping while traditional brick-and-mortar outlets reduce their footprint.

Popular Retail Brands Anticipate Closing Physical Locations This Year

The shift toward online shopping has prompted several prominent retail companies to reduce their physical footprints in 2023. Despite ongoing consumer interest in in-store shopping, many major brands are planning to shut down some or all of their brick-and-mortar stores due to declining customer visits and financial challenges. Shoppers interested in visiting their favorite stores should act quickly to take advantage of special promotions before closures become permanent.

Morphe Cosmetics Known for its makeup and beauty offerings, Morphe previously operated around 18 stores nationwide. Recently, its parent company, Formas Brands, announced the closure of all Morphe retail locations and the company’s bankruptcy filing.

This decision comes after financial difficulties, lease disputes, and legal issues. Customers can continue shopping on Morphe’s online platform. Founded in 2008, Morphe will cease operations after 15 years. Similar to Morphe, many cosmetic brands are shifting focus online or shutting down amid the growth of e-commerce.

Party City As a leading retailer in party supplies, Party City offers decorations, costumes, and tableware. However, decreasing demand for home gatherings has hurt sales, causing financial pressures.

With destination celebrations becoming more popular than traditional house parties, the demand for Party City’s products has dropped. The company has reduced its workforce by 19%, and some store closures are expected in 2023, though its online business remains active.

Kroger and Albertsons Traditional grocery chains are also facing decline. Kroger and Albertsons, two major supermarket operators, are merging to strengthen their market position. Kroger has already shut several stores, with more closures planned for 2023.

Other chains like Safeway and Harris Teeter—owned by Albertsons and Kroger respectively—are also planning closures as part of their restructuring efforts. Specific locations are yet to be announced.

Sears Once a household staple, Sears sold clothing, appliances, and more across many states. After declaring bankruptcy in 2018, many stores closed. By 2023, fewer than 20 locations remain, with most likely shut down soon due to declining sales and footfall. Sears hasn't posted a full-year profit since 2011.

Signet Jewelers The owner of brands like Kay, Jared, Zales, and Piercing Pagoda announced closing around 150 stores in 2020, and over 100 additional locations in 2021. With the growth of online jewelry shopping, further closures in 2023 are anticipated.

Macy’s Historically one of the largest department store chains, Macy’s has been downsizing due to financial and supply chain issues. The company has closed underperforming stores, including 29 in 2020 and 38 in 2021. The remaining outlets are nearing closure, as the company shifts focus to its online sales.