Posted: Jun 01, 2018 | By: cathyplumb
March store opening and closing numbers from Chain Store Guide shows a slowdown in store openings. In March we saw 1,551 new store openings while in April we saw this number drop to 854 new store openings. Store closures had an increase from 62 in March to 132 in April. For April we saw a net gain of 722 stores, down from March when we saw a 1489 net gain.
Viewing results from a geographic perspective, the Midwest region saw the most store openings and the most store closings.
Looking at the results by category, Category Specialist stores led in new store openings and Chain Drug Stores closed the most number of stores.
Let's take a closer look.
Openings - 854 Total
Category Specialist stores led at 676 new store openings
The Home Center and Hardware Chains category opened 73 new stores
Chain Supermarkets opened 43 new stores
General Merchandise stores opened a total of 38 stores
Chain Drug stores saw 16 new stores
The Discount Store category showed the least number of new stores at eight
Looking at openings geographically, the Midwest and the South regions were the biggest gainers in April openings, 182 and 145 respectively. The Pacific region opened 136 while the Atlantic followed closely at 134. The Northeast saw 113 openings, the Southwest 104 and the Rocky Mountain region saw 40.
Closings – 132 Total
Chain Drug stores saw the most closures at 48 stores
Chain Supermarkets saw 37 closures with no one stand out chain.
Category Specialists shut down 25 stores
The Home Center & Hardware category saw 10 closures with no one standout.
General Merchandise stores saw ten stores shuttering their doors
The Discount store category reported two closures
Reviewing closures by region, the Midwest saw the most closure activity at 61 while the South followed with 20 closings. The Southwest saw 16 closures, the Pacific 14 and the Atlantic at nine. The Northeast and Rocky Mountains regions tied with six each.
Stay tuned for next months wrap up of store opening and closing activity! Keep up with the movers and shakers in the industry.TAGS: retailer trends, retail store openings and closings, retail growth,