Antique stores to close in January as ‘big box’ stores open in 2018
Antique, used, and thrift stores are closing across the nation in January, as big box retailers take over the used appliance and antique markets.
The closing of more than 100 stores in 2018 is a sign that the retail industry is entering a period of consolidation.
In 2018, the number of U.S. retail stores was nearly 13 million, according to the Census Bureau.
More than one in three stores are owned by a private company, which is a trend that is expected to continue in 2019.
A few of the big retailers that are closing in January include Lowe’s, Home Depot, Sears, and Kohl’s.
Lowe’s has been closing stores in January for about six years and Home Depot is closing stores for about eight years.
Sears, which has more than 300 stores in 50 states, announced plans to close more than 400 stores in December.
The chain has also closed stores in March and April.
Sears has been working on plans for a new store for about a year.
Last month, the retailer announced it would open a second store in 2018 in California, which will be a new outlet for the retailer’s online store.
The big box stores will close by Jan. 20, 2018, and are expected to have a total of more, at least 30,000 employees, according a recent report by Retail Industry Research.
The closures are expected “to have a cumulative effect of closing hundreds of thousands of jobs and will impact millions of U and A retail workers.”
According to the report, the closure of these stores will have an impact on the wages of workers, with an average hourly wage of $14.40.
The average annual wage for a retail associate is $25.71.
The new stores will be open in the following states:California, Colorado, Idaho, Kansas, Montana, Nevada, North Dakota, South Dakota, Utah, Virginia, Washington, Wisconsin, Wyoming, and the Virgin Islands.
In the coming months, the retailers that will be closing will be forced to reduce their hours and increase prices, which could be costly for workers.
For example, Lowe’s said it will reduce hours from 6:30 a.m. to 9:30 p.m., Home Depot will close stores at 9:00 a.p.m..
and Sears will close all of its stores at 7:00 p.c.
The Associated Press contributed to this report.