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Retailers Are Opening More Stores Than They Are Closing

Retailers are on track to open more stores than they’re closing, with more than half recently surveyed by RetailSphere revealing plans to expand.

By Lynn Pollack | September 02, 2021 at 10:45 AM

NEW YORK CITY—Retailers are on track to open more stores than they’re closing, with more than half recently surveyed by RetailSphere revealing plans to expand. Of those expanding, the firm has noted an increase in retailers looking for smaller square footage. Grocery, fast casual, and value concepts are leading the way, with more than half of retailers surveyed in each sector saying they’ll expand this year.

That’s definitely been the case in Manhattan, according to Michael Cody, co-founder and director at retail brokerage MONA, which itself launched during the pandemic.

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