Posted: Aug 03, 2018 | By: cathyplumb
May store opening and closing numbers from Chain Store Guide shows a continued slowdown in store openings. In March we saw 1,551 new store openings, April we saw this number drop to 854, and in May the number dropped to 623 locations. Store closures continue to increase in May; while there were 62 in March and 132 in April, there were 369 closures in May, This data shows a net gain of 254 new retail stores.
Viewing results from a geographic perspective, the states that saw the most store openings were CA, FL, NY, and TX. The states that saw the most store closings were CA, PA, and TX.
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 - 623 Total
Consumer Electronics stores led at 423 new store openings, driven by wireless retailers:
General Merchandise stores opened 53 new stores:
Chain Supermarkets opened 44 new stores:
General Merchandise stores opened a total of 38 stores
Closings – 369 Total
Supermarket stores saw the most closures at 76 stores:
Consumer Electronics retailers shut down 64 stores:
General Merchandise stores saw 30 stores shuttering their doors:
The Discount store category reported 18 closures:
Stay tuned for next months wrap up of store opening and closing activity! Keep up with the movers and shakers in the industry.TAGS:
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