15 companies that are defying the retail meltdown by opening hundreds of new stores


Dollar General
Dollar General is opening
900 stores in 2018.

AP

  • Discounters are collectively opening hundreds of new
    stores this year. 
  • Retailers planning to add new stores include Dollar
    General, Dollar Tree, Family Dollar, Aldi, Lidl, Five Below,
    and Hobby Lobby.
  • Meanwhile, mall-based stores like Teavana, Rue21,
    Gymboree, and others
    are closing a record number of stores. 

While many retailers
are closing stores
, some are rapidly building new locations,
with at least one — Dollar General — adding as many as 900 stores
this year.

A large majority of the retailers that are opening new
stores this year are discounters, including Dollar General,
Dollar Tree, Family Dollar, Aldi, Lidl, Five Below, and Hobby
Lobby. 

Those retailers and others will collectively open more than
2,100 stores this year, according to a Business Insider analysis
based on company data.


Store openings 2018Business
Insider

In addition to adding 900 new stores, Dollar General plans
to remodel 1,000 locations and relocate 100 stores.

Rival discounter Dollar Tree, which owns Family Dollar,
expects to open “hundreds” of stores under each chain this year,
a company spokesman told Business Insider. The company declined
to provide an exact number until its next earnings release date
in March, but it referenced its fiscal 2017 store growth —
totaling 620 stores — for guidance.

The discount grocery chain Aldi, which operates 1,750
stores in 35 states, is planning to add another 180 stores this
year as it works toward its goal of reaching 2,500 stores by
2022, the company said.

Aldi’s biggest global competitor, Lidl, launched its first US
stores last year and now has 48 locations across the East Coast.
The company plans to open another 52 stores by June of this year,
a spokesman told Business Insider. 

Costco will open at least three new stores and Walmart plans up
to 25 new locations that will include a mix of Neighborhood
Market stores and Supercenters. However, Walmart’s Sam’s
Club chain will close 63 stores
, the company said Thursday.

Along with Sam’s Club, many mall-based retailers including Sears,
Kmart, Macy’s, Rue21, Gymboree, and others are
planning to close hundreds of stores

Discount store growth surges while mall-based stores
disappear

US shoppers started gravitating toward discount stores
during the recession, and most never returned to shopping
full-price. 

This shift coincided with a seismic change in how
Americans spend their money. Shoppers are now devoting a smaller
share of their wallets to clothing
and accessories
 and instead spending more
on big-ticket items like cars and travel, as well as food,
technology, and health care.

Shoppers are also purchasing more online. At the same time,
mall visits have dropped precipitously.

These changes have devastated full-price
department stores like Macy’s, JCPenney, and Sears
, which
have closed hundreds of stores in the past year. 

The closure of full-price department stores has triggered a
downward spiral in performance for many shopping malls, which has
led to sales declines at specialty apparel and accessory stores
located in mall centers, such as Gap, J.Crew, and Guess.

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