Major Retail Chain In Michigan Shutting Down Nearly 100 Locations

Several businesses in Michigan, including major retail chains, have been forced to close their doors this year. One of the largest retailers in the Great Lakes state has announced it plans to close nearly 100 stores.

Major Retail Chain In Michigan Shutting Down Nearly 100 Locations

Many big brands in Michigan have announced the closure of hundreds of underperforming locations or closing their doors for good. Retailers such as Macy's, Big Lots, Party City, and more have shut down brick-and-mortar stores due to bankruptcy, inflation, and the prevalence of online shopping. A major retailer with over 700 locations in the Great Lakes state is starting to feel the impact of an unexpected shift in customer behavior.

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Dollar General announced it's planning to close 96 stores nationwide. During the company's recent earnings call, Dollar General's CEO said profits have shrunk partially due to store closures and an alarming shift in customer behavior:

“Our customers continue to report that their financial situation has worsened over the last year as they have been negatively impacted by ongoing inflation,” said Vasos. “Many of our customers report that (they) only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities.“

Vasos added that tariffs may impact future customer behavior as imported goods will cause a price hike in Dollar General products.

Dollar General closed 27 stores in January, 117 last year, and 105 the year before. The company has not yet specified which stores it plans to close.