Retailers Cut Footprints As Off-Price Expands

Telsey Advisory Group projects net store closings in luxury and department stores for 2026, while at-home retailers' store counts rise 1.4%, Retail Dive reported this week. The report expects Best Buy to reduce locations in 2025–2026, with Target and Walmart expanding footprints, and says bankruptcies like Saks Global create acquisition opportunities for off-price and beauty chains. PYMNTS CEO Karen Webster noted AI agents and digital platforms have supplanted physical department-store functions.