And more stores are opening, according to Retail Traffic Magazine. An estimated 35,000 new stores are predicted to open in 2011, while closings will likely be less than last year.
Chain stores like Ann Taylor are preparing to expand, as well as discount retailers like Family Dollar.
"That means in 2011, retailers will open approximately 35,000 new stores, estimates Rich Moore, an analyst with RBC Capital Markets who helps compile the report. Michael Wiener, president and CEO of Excess Space Retail Services Inc., a real estate disposition and lease restructuring firm, expects retailers to expand as well, but not as quickly. Weiner says retailers are likely to expand gradually, with about 20,000 new stores in 2011 and another 40,000 to 50,000 in 2012.
'I think people are just getting back into the marketplace and trying to understand what kinds of deals they can get," Wiener says. "We still think things will be on a very slow upswing, but we do think that there will hopefully be at a minimum a slow and steady recovery in retail.'"
FULL STORY: Store Openings to Increase in 2011, While Pace of Store Closings Will Decrease Slightly
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UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
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Great Falls Development Authority, Inc.
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