Study: For every 5 retailers opening stores, one retailer closes
IHL reports that fewer retailers make up the bulk of closures in 2019.
More than five retail chains are opening stores for every retailer that is closing stores in 2019, according to new research from IHL Group, Franklin, Tenn. This is up from 3.7 in 2018. The company also reports that the number of chains adding stores in 2019 increased 56%, while the number of closing stores decreased by 66% in the last year.
The study, “Retail Renaissance – True Story of Store Openings/Closings,” reviewed 1,660 retail chains with 50 or more locations in the United States across nine industry segments. For each retailer, the company measured the total store counts at the end of 2016, 2017, 2018 and plans for 2019 year-end based on company filings and statements.