Just a couple of weeks ago people were emailing each other grim lists of store closings. Retailers we all know and love were on the lists including Circuit City, Linens n’ Things and others. Now we’re slowly starting to see stores take advantage of available market share, cheap real estate and publicity for being among the few companies executing growth strategies. Here’s a short list of retailers making plans to open new stores.
- Dick’s Sporting Goods is planning to open 20 new stores, 19 under the Dick’s brand and one Galaxy store. While net income is down for the company, sales saw a modest increase.
- Although Staples is “bracing for a soft sales environment” it’s still scheduled to open 50 new stores in the US and 5 in Canada. That’s scaled back in comparison to previous years but better than competitors planning for a net reduction in stores.
- Lumber Liquidators recently held their Q4 2008 earnings call where they announced plans to open approximately 30 to 36 stores in 2009. Already this year the company has opened eight stores.
- In the month of March alone Target will open 27 new stores employing a total of more than 4,300 people. That includes 21 general merchandise stores and 6 SuperTarget stores which include a grocery section.
Men’s Warehouse anticipates opening up to 10 new stores this year. According to their earnings release, “the company remains flexible to take advantage of real estate opportunities that may arise.”- This is a fun one. London’s prestigious magazine, Monocle opened up it’s first retail incarnation at the end of 2008. The store now has sights set on locations in L.A., New York and Tokyo.
