We’ve been hearing about a lot of store closings lately. Macy’s, Party City, and Big Lots, to name three.

University of Michigan Ross School of Business Professor Erik Gordon says it’s pretty typical to see store closures announced in January.

“When the calendar turns to January, we see a lot of store closings because retailers wait and see what happens during the holiday shopping season,” Gordon said. “It’s also because for most retailers, their year doesn’t actually end for accounting purposes in December. It ends at the end of January.”

Gordon says department stores are falling out of favor as more people shop online. He says most people don’t shop at a store like Party City that often these days.