Store Closings and Openings Both Rise Y-O-Y

“Some retailers are continuing to expand, even as store closures are up markedly from 2016,” says Deborah Weinswig.

NEW YORK CITY—It’s a mix of good news and bad news for retail landlords in a new report from Fung Global Retail & Technology. Year to date, announced store closings are up 97% over the year-ago period. On the other hand, announced store openings are up 20% from the year-ago period.

“The industry is in the middle of a major disruption, but there are bright spots, including Bonobos’ commitment to physical retail,” says Deborah Weinswig, managing director at Fung Global, referring to the recent announcement that the apparel company planned to open 20 Guideshop showrooms by the end of this year. “As we’ve seen, some retailers are continuing to expand, even as store closures are up markedly from 2016.”