UBS Forecasts 50,000 U.S. Stores to Close by 2027 due to Shifts in Spending and Tighter Credit

April 13, 2023: Investment bank UBS has predicted that up to 50,000 US stores could close by 2027 due to reduced consumer spending, tighter credit, and a continued shift to e-commerce. This figure could rise between 70,000 and 90,000 if retail sales fall short of expectations.

Four Walmart Stores in Chicago to Close Down

April 13, 2023: Walmart is closing four stores in Chicago, including a Supercenter and three neighbourhood markets, as part of its program to shutter 15 stores this year. The move comes after the retailer reported retail theft across the US earlier this week. Walmart had previously invested in the Chicago market, spending $70m on store upgrades and constructing a health centre and training centre in Chatham.