Clearance is normal. They do it a couple of times a year. As for the empty shelves, at least a handful of stores (I'm not sure how widespread) are getting new floor plans and everything is being rearranged. As far as I know, no store closings, just making room for (in the case of my local store) more games and a re-organized kids department.
EDIT: Yes, more nook stuff, too, forgot about that. Bay are coming down to make room for new fixtures.
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