More than 4,400 retail stores for a variety of brand names and chains are expected to be opened nationally before the end of this year.
That’s according to a just-released study by the New York-based Coresight Research, which also indicates that the 4,130 tsunami of store closures seen in 2021 has substantially decreased to well under 2,000.
One of the most aggressive gainers is the Goodlettsville, Tennessee-based Dollar General company, on track with plans to open just over 1,100 stores this year. That new store space, according to the Coresight report, equates to 11.7 million square feet of retail square footage.
Dollar Tree, meanwhile, with headquarters in Chesapeake, Virginia, will most likely see the opening of 590 stores.
The Philadelphia-based trendy retail chain Five Below, which was launched in 2002 and features a variety of products with price tags of $5 or below, has announced a goal of building at least 1,000 new locations between now and 2025. At least 400 of those locations are expected to be completed by the end of this year.
In the strictly clothing end of the industry, the Burlington sportswear and apparel chain, growing from a base of 840 stores nationally, hopes to add another 90 new stores by December 31.
In a separate report issued last month, Coresight noted that altogether the country’s retailers are on track to open some 75 million square feet of new retail space by the end of this year.
Even though the discount chain Big Lots has endured a 7.6% drop in sales during the second quarter of this year, it has recently revealed plans to build 500 new stores by the year 2030.
Headquartered in Columbus, Ohio, Big Lots, launched in 1967, currently has more than 1,400 stores nationally.
By Garry Boulard
