These 15 companies are defying the retail apocalypse and opening hundreds of new stores
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REUTERS/ Jim Young
- Discount stores are thriving while mall-based stores are closing a record number of stores.
- Discounters are collectively opening hundreds of new stores this year.
- Retailers planning to add new stores include Dollar General, Dollar Tree, Family Dollar, Aldi, Lidl, Five Below, and Hobby Lobby.
US shoppers started gravitating toward discount stores during the recession, and most never returned to shopping full-price.
Discount stores are rapidly building new locations, with at least one — Dollar General — adding as many as 900 stores this year.
A large majority of the retailers that are opening new stores this year are discounters, including Dollar General, Dollar Tree, Family Dollar, Aldi, Lidl, Five Below, and Hobby Lobby.
Those retailers and others will collectively open more than 2,100 stores this year, according to a Business Insider analysis based on company data.
Here's a full list of companies opening hundreds of new stores:
Dollar General — 900 stores
In addition to adding 900 new stores, Dollar General plans to remodel 1,000 locations and relocate 100 stores.
Dollar Tree — 320 stores
Dollar Tree, which owns Family Dollar, expects to open "hundreds" of stores under each chain this year, a company spokesman told Business Insider. The company declined to provide an exact number until its next earnings release date in March, but it referenced its fiscal 2017 store growth — totaling 620 stores — for guidance.
Family Dollar — 300 stores
Family Dollar is also expected to open several hundred more stores in 2018. The company said it will reveal more information in March.
See the rest of the story at Business Insider
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