Posted: May 05, 2016 | By: cathyplumb
February store openings and closings numbers from Chain Store Guide shows little activity. In January we saw 274 store closings and in February we saw a significant drop to 41. New store openings in January were 15 and stayed relatively unchanged with only 11 in February. For February, we saw a 30 net loss of stores down from the259 net loss we saw in January.
Viewing results from a geographic perspective, the Pacific region saw the most store openings and the Midwest had the most store closings. The Atlantic region did not report any openings or closings.
Looking at the results by category, Chain Drug stores closed the majority of stores and Chain Supermarkets saw the most new store openings.
Let's take a closer look.
Openings - 11 Total
Chain Supermarkets stores led at 10 new store openings including three Sprouts Farmers Markets and two Whole Foods Markets. The General Merchandise category opened one Dollar Tree store.
Looking at openings geographically, the Pacific opened five. The Midwest, South and Southwest opened one, two and three respectively.
Closings – 41 Total
The Chain Drug store category saw the most closures at 35 with no one standout chain. Discount stores saw five store closures with Sam’s Club accounting for four of these. Chain Supermarkets category saw the closure of one Mega Foods store.
Reviewing closures by region, the Midwest saw the most closure activity at eighteen. The Northeast, South and Southwest shuttered six each. The Pacific region saw three closures and the Rocky Mountain Region saw two.
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