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On May 20, 2009. By Fran, under Industry News.
If this blundering economy hasn’t done enough already, conflicting reports seem to always be on the top of the list. Retailers are expected to open 4,000 stores in the U.S. this year and close 3,600. Chains expected to open the most stores include Walgreen’s, Dollar General and CVS. Closing up shop, has been Bed Bath & Beyond, Circuit City and Fortunoff’s.
If all 4,000 stores are opened, store-opening activity will still be down 39 percent compared to 2007 levels.
Retailers in pet supply, dollar store, warehouse club, drugstore, grocery store and discount categories are projecting the biggest gain in stores this year while retailers in the electronics, jewelry, apparel and office-supply categories expect to see the biggest loss in store counts.
Those planning to open the most U.S. stores this year include:
- Walgreen’s (540)
- Dollar General (450)
- CVS (275)
- Dollar Tree (235)
- Family Dollar (200)
Some merchants who have either folded or are downsizing considerably:
- Circuit City (567)
- Steve & Barry’s (252)
- Jones Apparel (225)
- Blockbuster (150)
Having spent Saturday afternoon at my local mall, I noticed just how many empty storefronts stood blacked-out & baron. An eerie echo of bustling shoppers who once darted across from shop to shop, now only have to go past one or two of these darken stalls to see the dismal reality of the economy.
Let’s hope some-four odd thousand shops do open to much success & longevity, but just how much pet supplies, paper clips and industry size toilet paper can one shop for, before being a tad self-indulgent becomes discounted.
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