Major retail chains in New York City continue to see declines. A new finding from nonprofit Center for an Urban Future (CUF) showed that national chain locations across all five boroughs dipped 1.3 percent over the past 12 months. That marks the fifth time in seven years that store chains have seen a net drop.
Of the 450 national brands the CUF tracked, 130 trimmed their footprints in the Metro area, 229 remained unchanged, and 94 saw gains in stores. Staten Island experienced the biggest decline in national brands, losing 1.8 percent of the locations it had in 2023.
CUF said that those selling apparel, cosmetics, pharmaceutical items, vitamins, and cell phones suffered the biggest net losses. The top three biggest losers were Metro T-Mobile (229 stores), Duane Reade (128 stores), and T-Mobile (89 stores). This trend has continued for the past "several years" as competition from e-commerce continues, according to CUF.
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Also, some in the food business struggled, as Subway led the net reduction in stores with 85; 7-Eleven closed 45, while Baskin-Robbins shuttered 36. Since 2019, the 25 largest retailers, except for FedEx Office, Chipotle, UPS Store, and Popeyes, have seen net losses in locations in NYC. That said, food retailers in the city grew their footprint by 1.6 percent in 2024. Popeyes saw the biggest net gain with 13 stores. It was followed by Oakberry Açaí Bowls (10) and Wingstop (9).
This all suggests "the environment for many national retailers remains challenging even as many of the city’s commercial districts have seen a strong recovery in storefronts," CUF wrote.
Today, Dunkin', and Starbucks remain NYC's largest retail chains, with 626, and 328 stores, respectively.
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