Retail Store Openings & Closings June 2014
Posted: July 10, 2014
The June store openings and closings numbers from Chain Store Guide shows a quicker pace of store closings, with a total of 163 and a slowing of openings at 98. Industry-wide that is a 67 net loss.
Viewing results from a geographic perspective, the South region had the most store openings and the Midwest had the most store closings. The Rocky Mountain region had the fewest store openings and the Pacific and Northeast regions saw the fewest store closings.
Looking at the results by category, General Merchandise stores opened the most stores at 40, Chain Supermarkets opened 17 and Discount stores opened 14. The General Merchandise category closed the most number of stores at 82. They were followed in distance by 24 Discount Store closures Drug Store and HBC chains closing 18.
Let's take a closer look.
Openings - 98 Total
General Merchandise stores saw the most new store openings at a total of 40 with the majority being Family Dollar opening 37 new stores. Supermarket stores was the second biggest gaining category opening a total of 17 new stores. Discount Department stores followed with 14 new store openings with Walmart Inc accounting for the majority at 13.
Looking at openings geographically, the South led the pack with 26 with the Midwest and Atlantic regions tying at 16 each. Following closely behind was the Pacific region at 14, then Southwest at 11 and Northeast at 10. Rocky Mountain region trailing all other regions with five.
Closings - 163 Total
General Merchandise stores accounted for 82 or 50% of all store closures with Family Dollar accounting for 76 of the closures. Discount Stores followed with 24 total closures with K-mart accounting for 23 of these closures. Walgreens saw 15 of the total Drug Store and HBC Chains 18 closures.
Reviewing closures by region, the South saw the most closure activity, with 45 stores closed, or 28% of all closures. The Atlantic region saw 29 closures, the South saw 28 and the Southwest saw 21. The regions with the least store closings were Rocky Mountain with 16, and the Pacific and Northeast regions each seeing 12 closures.
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, retail trends, retailers,