Not everyone’s closing up shop — these retailers and restaurants have made strides in 2009, and are planning expansions in 2010, and beyond.
By Jill Bensley and Erica Barton
As the holidays approach, the retail industry is showing signs of new life. Buoyed by 3.5 percent third-quarter growth of the gross domestic product, the retail sector may have seen the worst.
Always important to the rebound are plans for store expansion. In fact, 2009 shows more than 250 individual retailers who had plans to expand by more than a total 10,000 units. A summary by merchandise class is given below:
Announced plans for 2010 include more than 49 different retailers with plans for more than 3,500 new locations. While not all of the aforementioned expansions are in the United States, the sheer volume signals better times for the retail sector.
The Top 50 in 2009
A list of the top 50 expanding companies by number of units is shown in Chart 1. As can be seen, the most expansive include McDonalds at 1,000 new units; Walgreens at 554 units; Dollar General at 500; Subway at 484; Zara at 450 (through 2011) ; GameStop at 400; Family Dollar at 385; Dollar Tree at 235; 7-Eleven at 200; and O’Reilly Automotive at 150. Obviously, the lower end of the retail spectrum is gaining the most in this recession… (Click Here to read more.)