Retail Store Openings & Closings November 2013
Posted: January 08, 2014
The November store openings and closings numbers from Chain Store Guide show lots of activity this month, with a total of 200 store openings and 91 closures. Industry-wide that is 108 net openings.
Viewing results from a geographic perspective, the Atlantic region had the most store openings, while the Midwest was hit hardest with the most closings. The Midwest and Rocky Mountain had the fewest store openings and the Rocky Mountain region also saw the fewest store closings.
Looking at the results by category, Drug Store and HBC Chain stores opened 80 stores and General Merchandise Stores opened 67 stores. The Toy/Hobby/Craft/Fabric Retail category closed a significant number of stores at 53 along with Supermarket Chains closing 18 and Drug Store and HBC Chains closing 12.
Let's take a closer look.
Openings - 200 Total
Walgreens saw the biggest increase in new store openings with a total of 73. A majority of these new stores (54) were due to the acquisition of the Kerr Drug chain North Carolina. Family Dollar opened 51 new stores in November adding to their goal of 500 new stores in 2013 while competitor Dollar General opened 8 new stores. Walmart continued its climb in retail locations opening 11 new stores while Dicks Sporting Goods opened nine.
Looking at openings geographically, the Atlantic led the pack with 79 while the Midwest was a distant second with 38 and the South region saw 28 openings. The Pacific region saw 17 openings, Southwest 15, Northeast 14 and the Rocky Mountain region trailed all other regions with nine.
Closings - 91 Total
Gamestop was the biggest loser shuttering 53 stores. This was not a surprise as Gamestop announced early in 2013 that they would be closing 200 stores in 2013. The video game retailer, hurt by growth in mobile gaming at the expense of console gaming platforms, had a 4.6% year-over-year decrease in revenue. This led some industry analysts to predict a total of 500-600 stores could be closed in 2013. A final tally of store closings will be available in early 2014.
A total of 18 Supermarket Locations were closed with the majority (13) coming from smaller regional chains.
It is interesting to note that Walgreens closed 10 stores but 8 were due to relocation.
Reviewing closures by region, the Midwest saw the most closure activity, with 23 stores closed, or 25% of all closures. The Northeast region saw 19 closures, the Pacific closed 14 while the South closed 13, Southwest 10, Atlantic nine and Rocky Mountain with the least at three.
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,