In 2022, retail openings will exceed closures, according to recent research. This number will reflect more than double the closings throughout the year. New stores that have been announced so far this year will occupy 72.3 million square feet of space. From Jan. 1 through June 24, 4,283 store openings were announced, a higher number than in 2021. Brick-and-mortar growth is on the horizon for a number of key retailers for the remainder of the year.
Although Dollar Tree, Family Dollar and Dollar General have announced a few closures this year, their openings and future locations have far surpassed the closings. Dollar Tree announced 206 stores with 1,102 for Dollar General and 393 for Family Dollar.
Athleta plans to open 30-40 inline stores this year, along with the brand’s first outlet stores. The company hopes to reach new customers and expand their market to achieve long-term strategic goals. New stores will allow Athleta to deliver value and expand brand awareness while growing their physical footprint.
Mango, a fast-fashion Spanish brand, plans to expand stores throughout Canada and in the US, with over 30 stores combined.
Source: ICSC – Retailers
Photo Credit: ICSC – Retailers
