Here's a retailer opening brick-and-mortar stores

Everyone has heard about the flood of store closings in recent years. Tuesday there was some news about store opening...

Posted: Apr 24, 2018 6:39 PM
Updated: Apr 24, 2018 6:39 PM

Everyone has heard about the flood of store closings in recent years. Tuesday there was some news about store openings.

Gap Inc. updated expansion plans for its Old Navy brand, announcing it will to open 60 stores this year. It is also remodeling about 150 other Old Navy stores.

That comes even as it moves ahead with plans announced last year to close underperforming Gap and Banana Republic stores.

"Investing in Old Navy's retail presence is central to our continued growth," said Sonia Syngal, CEO of Old Navy.

Despite shoppers' increasing preference to buy items online, the overwhelming majority of purchases are still made in traditional brick-and-mortar stores, according to government and industry sales figures.

Retailers can fail for a variety of reasons that have nothing to do with the customer traffic at a specific property, such as excessive debt load or lack of funds for competitive marketing. Thus when a retailer closes a store, very often it can free up space that can be attractive to another retailer.

Related: 2017 set a record for store closings

Last year, the number of store closings more than tripled to a record 7,000, according to Coresight Research, which tracks closing and opening announcements. But the number of store openings also increased 50%, to 3,400, or about half the number of stores that closed, according to Coresight, which used to go by the name Fung Global Retail & Technology.

That trend of both store closings and openings, with closings still more common, is evident at Gap Inc., which last year opened 118 company-owned stores worldwide, while closing 153.

Related: Local toy stores are thriving as Toys 'R' Us is dying

The segment of retail with the greatest growth is the low-priced dollar stores, with Dollar General and Dollar Tree leading the way with nearly 2,000 new US stores between them last year.

But it wasn't just dollar retailers adding stores. TJX, which operates TJ Maxx, Marshalls and HomeGoods, among other brands, added about 260 stores last year and plans to add almost as many this year, according to company filings. Longer term it expects to add another 1,800 stores in coming years.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 1007681

Reported Deaths: 16470
CountyCasesDeaths
Marion1355212121
Lake664101166
Allen57993801
Hamilton46350465
St. Joseph44397615
Elkhart35949510
Vanderburgh32251480
Tippecanoe27933260
Johnson25107445
Hendricks23897359
Porter22929365
Madison18748409
Clark18557252
Vigo17479303
Monroe15263200
LaPorte15173250
Delaware15073263
Howard14748290
Kosciusko12348148
Hancock11728176
Bartholomew11639180
Warrick11292189
Floyd11108215
Wayne10986253
Grant10082220
Morgan9472176
Boone8926115
Dubois8271131
Henry8229152
Dearborn822393
Noble8031106
Marshall7939135
Cass7546121
Lawrence7457171
Shelby7189119
Jackson698289
Gibson6597115
Harrison649192
Knox6421106
Huntington6395100
DeKalb632399
Montgomery6264111
Miami593398
Putnam581278
Clinton576171
Whitley565755
Steuben562576
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Jefferson511297
Ripley500586
Adams482576
Daviess4677114
Scott438974
Greene425196
Wells424888
Clay423360
White418764
Decatur4169102
Fayette406587
Jennings387361
Posey376644
Washington359151
LaGrange359078
Randolph3452100
Spencer340243
Fountain335760
Sullivan329452
Starke317171
Owen314771
Fulton312667
Orange293664
Jay284645
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Perry265452
Rush262432
Carroll261934
Vermillion258654
Parke231426
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Blackford193142
Pulaski183757
Crawford159823
Newton158348
Benton150617
Brown146747
Martin138719
Switzerland135011
Warren121116
Union107016
Ohio84613
Unassigned0540

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1515838

Reported Deaths: 23955
CountyCasesDeaths
Franklin1640131696
Cuyahoga1460532459
Hamilton1052061431
Montgomery738951279
Summit616491111
Lucas56212917
Butler51500718
Stark465771064
Lorain35525585
Warren32769377
Mahoning30719693
Clermont28151330
Lake26979448
Delaware24159164
Licking23882294
Trumbull22825561
Fairfield22354247
Greene22289326
Medina22002313
Clark19812354
Richland18559292
Portage17924252
Wood17427224
Allen15967279
Miami15524306
Muskingum14789185
Columbiana14017274
Wayne13755271
Tuscarawas12692311
Marion11957180
Scioto11452162
Pickaway11356142
Erie10867184
Ross10555203
Lawrence9746153
Ashtabula9701204
Hancock9687155
Belmont9287209
Geauga8933157
Jefferson8547199
Huron8380143
Union818859
Washington8085144
Sandusky7807151
Athens776179
Knox7705144
Darke7643158
Seneca7343145
Ashland6945130
Auglaize678699
Shelby6516115
Brown635291
Crawford6261130
Defiance6192105
Mercer614593
Fulton601296
Highland599399
Madison593978
Guernsey589771
Logan587996
Clinton582993
Preble5710125
Putnam5323110
Williams528088
Perry517363
Champaign511573
Jackson508573
Ottawa486286
Coshocton482283
Morrow458158
Pike433467
Fayette428263
Hardin418080
Gallia417267
Adams416695
Van Wert370882
Henry364072
Holmes3624125
Hocking356482
Wyandot322962
Carroll301765
Paulding279447
Meigs264651
Monroe215554
Noble199747
Morgan193933
Harrison181446
Vinton165525
Unassigned05
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