Here’s a fact that will stop you in your tracks: Sears, which once employed more Americans than the US military, now has fewer stores than Starbucks locations in Manhattan. The company that built the American middle class is down to just 11 stores nationwide. Eleven. That’s the death of an empire.
In just the past 12 months, major retailers have announced over 3,200 permanent store closures. CVS is shutting down 900 locations. Walgreens is closing 1,200 stores. Even Dollar Tree is liquidating hundreds of Family Dollar locations.
These aren’t pandemic casualties. These are permanent shutdowns of profitable stores in busy shopping centers. The entire business model of physical retail is collapsing. High rents that made sense when foot traffic was guaranteed now feel like death sentences. Organized theft rings are stealing stores out of business. An entire generation has simply stopped shopping in stores.
What you’re witnessing is the systematic dismantling of America’s massively over-built retail infrastructure.