Yet Another Major Retailer Closing Big Store in Center City Philadelphia, PA
There will be one less big box retailer in Center City Philadelphia before Memorial Day Weekend.
The troubling trend of Philadelphia store closings continues
- In the past couple of years, H&M has closed two stores in Center City, the most recent one on the 1500 block of Chestnut Street
- Wawa has closed several stores in Center City, including two recently along Market Street
- Rite Aid at 23rd & Walnut closed last summer
- Marshall's closed a Center City store at the beginning of the year
- Walgreens closed its flagship store at Broad and Chestnut last year
The latest casualty
Now, according to The Philadelphia Business Journal, Target is closing its store at 12th and Chestnut after about seven years near that corner.
The company said the closure, expected to happen on May 13th, is due to years of declining performance.
"The decision to close one of our stores isn’t something we take lightly," a spokesperson told Townsquare Media.
All other stores in and around Philadelphia are expected to remain open.
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One of a handful of Target closures
Target's Center City closure is one of four happening within the next couple of months. Also on the chopping block are two stores in the Washington, DC, area and one in Minneapolis.
Meanwhile, Target plans on opening about two dozen stores this year across the country in various shapes, sizes, and designs. Three of those stores are in New Jersey, one in Delaware, and another in Pennsylvania.