Posted: Nov 24, 2015 | By: cathyplumb
October store openings and closings numbers from Chain Store Guide shows a slight increase in store closings. In September we saw 412 store closings and in October we saw 508. New store openings in October stayed relatively unchanged at 106 when compared to the 119 we saw in September. For October, we saw a 402 net loss of stores.
Viewing results from a geographic perspective, the Atlantic region saw the most store openings and the Midwest had the most store closings. The Rocky Mountain region saw the least amount of activity in new store openings while the Northeast and Atlantic tied for the least amount of store closings.
Looking at the results by category, Category Specialist stores closed the majority of stores at 342 while Chain Supermarkets stores saw the most new store openings at 48.
Let's take a closer look.
Openings - 106 Total
Chain Supermarkets stores led the pack at 48 new store openings including Aldi opening 20. Category Specialists opened 40 including 16 Dick’s Sporting Goods stores and ten TJX companies’ HomeGoods stores. The Discount category saw a total of eight new stores including three Costco’s, three Targets and two Walmart Supercenters. The General Merchandise category opened five new stores with no one standout chain. The Home Center and Hardware Stores category also opened 5 stores with Orscheln Farm and Home Supply accounting for three.
Looking at openings geographically, the Atlantic led the pack at 23 new store openings while the Midwest and South tied at 20 each. The Northeast and Pacific regions were also tied at 15 each. The Southwest saw ten, and the Rocky Mountain saw only three store openings.
Closings – 508 Total
The Category Specialist category saw the most closures at 342 with Carquest accounting for the majority at 133. Other losers in this category were Office Products/Stationery stores including OfficeMax at 64 and Office Depot at 53. The Home Center and Hardware Chains category saw a loss of 134 stores including 37 Kral-Howell Paint and Wall Covering stores and 26 Frazee Paint and Wall Covering stores. Chain Supermarket stores lost a total of 22 including 13 Haggen Northwest Fresh stores. Chain drug stores lost seven, Discount stores lost two and General Merchandise lost one.
Reviewing closures by region, the Midwest saw the most closure activity at 105 followed by the Pacific at 91 closures. The Rocky Mountain and South regions each shuttered 71 stores while the Southwest closed 62. The least amount of closure activity was in the Atlantic and Northeast regions shuttering 54 stores each.
Stay tuned to our blog for a monthly wrap up of store opening and closing activity to keep up with the movers and shakers in the industry.TAGS: retail store openings and closings, retailer trends,