2017 research from IHL Group about store closings.
Research from IHL Group detailing store closings in 2017.
It would be easy to proclaim the end of days for retail stores. But amid the decimation of household names like Sears and RadioShack, one retail sector is expanding: discount stores.
According to IHL Group, so far this year the closure of 5,321 stores has been announced, a 218% increase over 2016. The biggest losers have been RadioShack and Payless, with 1,000 and 512 closings, respectively. Other big chains shedding triple-digit numbers of locations include Gymboree, Rue 21, Sears and Kmart, and J.C. Penney.
Mall-based retailers have been struggling amid the expansion of online commerce, and it looks like the fight is nowhere near over. Earlier this month, Credit Suisse predicted that 20%-25% of American malls could close over the next five years.
“It’s an example of fundamental transformation and an example of what happens when retailers don’t stay in contact with their core customers,” says Jeff Roster, Vice President of Retail Strategy at IHL Group.
 
But hope remains – for some. Amid the quicker drumbeat of bankruptcy filings and closure announcements, store openings are rising as well this year. have been up 53% year to year, with Major chains have announced the opening of 3,262 locations since the start of 2017, according to IHL, a 53% increase over last year. Discounters dominate the top of the table, with Dollar General announcing the opening of 1,290 locations while Dollar Tree announced 650 openings.
Research from IHL Group detailing 2017 retail store openings.
Research from IHL Group detailing 2017 retail store openings.