Last year, the retail industry eked out a net addition of 68 stores. In 2019, Coresight tracked 9,832 closures, compared with 4,689 openings. have announced 4,432 store openings, compared with 1,954 closings, according to data from Coresight Research, resulting in a net of 2,478 openings.īefore the pandemic, the industry was seeing net closures of thousands of stores every year as consumers increasingly moved their spending online. And companies including Macy's that shuttered stores in recent years are now testing different formats, often with smaller footprints. Some retailers are eyeing real estate in markets outside of major cities as they follow people who uprooted to find bigger spaces during the Covid pandemic. California is finding its legs,' he added.įueling the openings are a mix of factors, including retailers pushing to snap up limited space and popular online brands looking to expand by opening up brick-and-mortar locations. 'We're seeing a big rebound in Vegas, Florida is on fire. 'Even with with what's going on in the world, we really haven't seen anyone back out of deals,' Simon Property Chief Executive Officer David Simon said on an earnings conference call Monday.

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