SAN FRANCISCO, CA - APRIL 05:  A pedestrian walks by a Payless Shoe Source store on April 5, 2017 in San Francisco, California.  Kansas-based discount shoe retailer Payless Shoe Source has filed for Chapter 11 bankruptcy and will close nearly 400 of its stores. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan/Getty Images
SAN FRANCISCO, CA - APRIL 05: A pedestrian walks by a Payless Shoe Source store on April 5, 2017 in San Francisco, California. Kansas-based discount shoe retailer Payless Shoe Source has filed for Chapter 11 bankruptcy and will close nearly 400 of its stores. (Photo by Justin Sullivan/Getty Images)
Now playing
01:25
Payless is closing up shop
Now playing
03:24
The start-up helping Ted Baker humanize online shopping
Pandora
Now playing
02:32
Pandora CEO on why the company is ditching mined diamonds
Now playing
03:06
Stella McCartney: Fast fashion is hugely damaging to the plant
Photo: iStock
iStock
Photo: iStock
Now playing
02:15
LL Bean CEO: People are dressing up, but not giving up comfort
Now playing
02:37
Etsy CEO: Depop is growing like crazy
Getty Images
Now playing
02:18
This airplane-shaped bag is selling for more than some actual planes
Now playing
00:54
See Nike's new 'hands-free' shoe
One of many large boxes of returned products that fill the warehouse. The returned products in this box will eventually be sorted and categorized.
John General/CNN
One of many large boxes of returned products that fill the warehouse. The returned products in this box will eventually be sorted and categorized.
Now playing
05:08
Here's where your 'free' online returns actually end up
Shutterstock
Now playing
04:42
Ever receive a package you didn't order? It could be a scam
Orangetheory Fitness
Now playing
02:13
This gym is actually opening studios during the pandemic
NEW YORK, NEW YORK - NOVEMBER 19: A view of the window display as Macy's Herald Square unveils Give, Love, Believe 2020 Holiday Windows on November 19, 2020 in New York City. (Photo by Eugene Gologursky/Getty Images for Macy's)
Eugene Gologursky/Getty Images North America/Getty Images for Macy's
NEW YORK, NEW YORK - NOVEMBER 19: A view of the window display as Macy's Herald Square unveils Give, Love, Believe 2020 Holiday Windows on November 19, 2020 in New York City. (Photo by Eugene Gologursky/Getty Images for Macy's)
Now playing
00:56
Macy's unveils holiday window display with gratitude theme
CNN/Target/Design by John General
Now playing
02:36
It's official: Black Friday is irrelevant
Now playing
02:23
Party City CEO: Consumers still want to celebrate together
Walmart
Now playing
01:01
See what's new inside Walmart stores
3119 E Third Street Dollar General in Dayton, OH on March 12, 2020.
Maddie McGarvey for CNN
3119 E Third Street Dollar General in Dayton, OH on March 12, 2020.
Now playing
06:07
Dollar General's business is booming. It's also vulnerable to crime, police say
New York CNN Business —  

America has too many stores.

This year, US retailers have announced that 5,994 stores will close. That number already exceeds last year’s total of 5,864 closure announcements, according to a recent report from Coresight Research.

Bankruptcies in the retail sector are piling up and chains have aggressively closed under-performing stores. That has led to an uptick in store closures this year.

Payless, Gymboree, Charlotte Russe and Shopko have all filed for bankruptcy this year and will close a combined 3,720 stores, according to the report. The majority of those are because of Payless, which filed for its second bankruptcy in February and said at the time it would shutter 2,100 stores in the United States.

Other retailers, such as Family Dollar, GNC (GNC), Walgreens (WBA), Signet Jewelers (SIG), Victoria’s Secret and JCPenney (JCP), are struggling and are shrinking their store footprints to save money.

Family Dollar will close 359 stores this year, while Signet Jewelers, the parent company of mall stalwarts Kay, Jared and Zales, will close 159.

Even thriving retailers such as Target (TGT)and Walmart (WMT)are quietly closing a handful of their stores — although those companies are opening some, too. And department stores such as Nordstrom (JWN), Kohl’s (KSS) and Macy’s (M) are shuttering a few stores each.

Thousands more store closings could be on the way in the coming years as online shopping replaces purchases at physical stores.

“The flood of store closures will likely continue for quite some time,” said Coresight Research CEO Deborah Weinswig.

Online sales make up around 16% of retail sales today, but they will rise to 25% by 2026, UBS analysts estimated in a research report last week.

That could force up to 75,000 stores to close by 2026, including more than 20,000 clothing stores and about 10,000 consumer electronics stores, UBS estimates. Thousands of home furnishings and sporting goods stores will also need to close as online shopping grows rapidly.

Some retailers are opening stores, though. The Coresight report noted that this year, retailers have announced they will open 2,641 stores. The discount sector in particular is growing: Dollar General announced it will open 975 stores this year.

Meanwhile, eccentric discount chains like Ollie’s Bargain Outlet (OLLI) and Five Below (FIVE) are expanding. Discount grocers Aldi and Lidl also plan to open hundreds of stores in the United States to reach customers who are shopping for cheap groceries.