While 2019 hasn’t been particularly good for some brick-and-mortar retailers as more than 4,800 store closures have already been announced so far this year, some brands are calling the bluff on all the “retail apocalypse” noise.
According to Coresight Research, while more than 4,810 stores, including icons such as Gap, J.C.Penney, Victoria’s Secret and Foot Locker, have all announced they are closing some of their stores due to poor sales, there has actually been a slew of store openings as well.
Coresight found that since of the start of the year, there have been more than 2,250 store opening announcements from retailers such as Ulta Beauty, Indochino and Ross Stores.
What’s more, according to a Business Insider analysis, many of the retailers that are expanding are in fact known discount chains such as Dollar General, Dollar Tree, Aldi and TJ Maxx.
|DLTR||DOLLAR TREE INC.||130.81||-3.32||-2.48%|
|ULTA||ULTA BEAUTY INC.||374.48||-3.67||-0.97%|
|TJX||THE TJX COS. INC.||71.18||-1.43||-1.97%|
|ROST||ROSS STORES INC.||102.27||-2.46||-2.35%|
Here are some of companies that are opening stores this year.
Dollar General: Opening 975 stores
Dollar Tree: Opening 350 stores
Despite announcing its plans to close 390 of its Family Dollar stores this year, discount chain Dollar Tree also plans to open up 350 Dollar Tree stores and convert more than 200 Family Dollar locations into Dollar Tree brands.
Aldi: Opening 130 stores in 2019 and 2020
Discount grocer Aldi announced in October that it plans to open 130 stores between 2019 and 2020.
Ulta: Opening 80 stores
While the beauty retailer has been rapidly opening stores for years, last December it revealed plans to slow store growth to 80 new locations in 2019 and 75 in 2020.
TJ MAXX and Marshalls: Opening 60 stores
In addition to opening more locations this year, the discount chain also announced it plans to open its first e-commerce online store later this year.
Costco: Opening 20 stores
The discount chain said it plans to open 20 locations in 2019.
Walmart: Less than 10 U.S. stores, more than 300 international stores
In October, Walmart said it plans to open fewer than 10 U.S. stores and litte more than 300 international stores in fiscal 2020.