With the new year come new reasons to save. Whether you've added budgeting to your New Year's resolutions or you're saving up for a summer vacation in 2023, there's a good chance you'll be trying to cut costs by shopping at discount stores. But some customers may soon have trouble accessing their favorite shops. Popular discount chains, including Marshalls, are already gearing up to close certain locations. Read on to find out where stores are shuttering, starting Jan. 14.
READ THIS NEXT: Big Lots Just Announced "An Accelerated Number of Closures."
Marshalls is closing a location this month.
ShutterstockCertain Marshalls shoppers may have to travel farther in 2023. The company is closing a location in Philadelphia, Pennsylvania, soon, the Philadelphia Business Journal first reported on Dec. 29.
In an emailed statement to Best Life, Andrew Mastrangelo, vice president for communications at TJX, Marshalls' parent company, confirmed that the Marshalls on East Market Street will shutter permanently on Jan. 14.
"We are always assessing and reviewing our real estate strategies, and our decision to close this store reflects that thinking," Mastrangelo said. "We are grateful for the loyalty of our Philadelphia customers and invite them to visit our nearby stores to continue to find great values, including the Marshalls on South Swanson Street and the T.J. Maxx on Market Street."
The company previously announced another closure for January.
iStockThis is not the only Marshalls store closing this month, however. It was already announced that the company is also shuttering a store in Minneapolis, the Minneapolis/St. Paul Business Journal first reported on Dec. 8.
Mastrangelo confirmed the closure previously in an emailed statement to Best Life on Dec. 9. According to the TJX spokesperson, the Minneapolis store located on South 7th Street is expected to close permanently on Jan. 14 as well.
"We are grateful for the loyalty of our Minneapolis customers and invite them to visit our nearby stores to continue to find great values, including the Marshalls in Roseville and the T.J. Maxx in Saint Paul," Mastrangelo wrote.
In the Jan. 3 statement, Mastrangelo also reiterated that the upcoming store shutdowns are "not indicative of larger plans for nationwide Marshalls closures." According to the communications rep, the company's CFO spoke about "anticipated store growth across all of TJX's retail chains" in Feb. 2022, which has since been reflected in its earnings reports over the past year.
"You will see that we have grown our Marshalls store base this year," Mastrangelo said. "At the end of our fiscal year 2022 on Jan. 29, 2022, we had 1,148 Marshalls stores. And at the end of Q3 on Oct. 29, 2022, we had 1,171 Marshalls stores."
Marshalls is not the only popular discount chain losing locations.
iStockAlongside Marshalls, Ross Dress for Less is also set to close at least one location in the new year.
The popular discount department chain is shuttering one of its stores on the Oahu island, local ABC-affiliate KITV in Honolulu, Hawaii, reported on Dec. 26.
According to the news outlet, Ross shoppers are losing a store in the Moiliili area of Honolulu on South King Street. No confirmed closure date has been announced, but it appears a different discount retailer will be moving in the space after Ross leaves. KITV reported that Savers recently filed a building permit to renovate the facility currently housing Ross.
Best Life reached out to Ross for more information on the closure, but has not yet heard back.
But Ross has also been steadily opening new stores.
ShutterstockBased on recent Ross news, there is no indication that mass closures are to be expected here either. At the end of October, Ross Stores, Inc. announced that it had just opened 40 new stores across the U.S., which included 28 Ross stores. (The other 12 openings were for its sister chain, Dd's Discounts).
According to a press release, these openings added to the "company's store growth plans for fiscal 2022," completing a total yearly addition of 99 new stores. And it seems Ross Stores, Inc., is planning to open even more locations in the future, with a goal that includes nearly a thousand additional Ross Stores alone.
"This fall, we opened our 2,000th store and continued to expand Ross and Dd's footprints across our existing markets as well as in our newer states. In addition to openings in California, Florida, and Texas, Ross strengthened its presence in Ohio while Dd's bolstered its store base in Illinois," Gregg McGillis, Ross' group executive vice president for property development, said in a statement. "Looking ahead, we remain confident in our expansion plans and continue to see plenty of opportunity to grow to at least 2,900 Ross Dress for Less and 700 Dd's Discounts locations over time."
