Posted: May 10, 2016 | By: cathyplumb
March store openings and closings numbers from Chain Store Guide shows a significant jump in store closings. In February we saw 41 closures and in March the number skyrocketed to 714. New store openings in February were 11 and stayed relatively unchanged with 15 in March. For March, we saw a 699 net loss of stores up from the 30 net loss we saw in February.
Viewing results from a geographic perspective, the Midwest region saw both the most store openings and the most store closings.
Looking at the results by category, Chain Supermarket stores had the most new store openings and closed the majority of stores.
Let's take a closer look.
Openings - 15 Total
Chain Supermarkets stores led at 11 new store openings including four Walmart Neighborhood Markets and two Whole Foods Markets. The Discount Store category opened two new stores – one Walmart Supercenter and one Target. The General Merchandise category opened two Dollar General Stores.
Looking at openings geographically, the Midwest opened five. The Pacific and Atlantic regions each opened three while the South opened two. The Northeast and Southwest tied for the least new store openings with one each.
Closings – 714 Total
Chain Supermarkets saw the most closures at 495. While the closures were acrossed many store banners, some standouts include Save-A-Lot at 72, Safeway at 24, IGA at 20 and Save Mart at 14. Category Specialists saw 117 store closings with the Office Supplies/Stationary segment taking the biggest loss. Office Max shuttered 37 stores, while Office Depot shut down 34 and Staples closed 25 stores. Discount stores saw 65 store closures with Big K-marts accounting for all but two of these. General Merchandise stores shuttered 27 stores with Big Lots accounting for 17 of these closures. The Chain Drug store category closed 10 with Walgreens accounting for seven but six of these stores were due to re-location.
Reviewing closures by region, the Midwest saw the most closure activity at 198. The South followed with 122 closing and the Northeast saw 113. The Pacific region saw 90 closures and Atlantic saw 81. The Southwest shuttered 66 while the Rocky Mountain region saw the least amount of closures at 44.
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