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April 19, 2018 05:05 PM

Younkers and Herberger's Closing; What's Next?

Younkers and Herberger's aren't the only big retailers with big changes ahead.

The amount of retail space closing this year is on pace to break a record.

On Thursday, Pier 1 said that it will close up to 25 stores in the next two years. Those locations have not been announced yet.  This comes after the retailer's stock plummeted amid a disappointing earnings report.

Business analyst, Cowen & Co., also came out with a recent report about businesses that might need to close more stores. Three of them have locations in Sioux Falls: Gap, Macy's and JCPenney. All of them have stores in the Empire Mall. Penney's also has locations in Brookings and Rapid City.

Foot Locker has also recently announced it's closing 110 stores this year. That's in addition to the 147 other locations it shuttered last year. The sneaker specialist has stores in Rapid City and Sioux Falls.

You might not be familiar with Ascena Retail Group, but it's an important company for the area. This is the parent company of several businesses with Sioux Falls locations including Loft, Dress Barn, Lane Bryant and Justice. A recent Bloomberg article says you should add this company to your "retail death watch."


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