The retail sector is flush with store closures taking place later this year. Toys R Us marks the latest company to deal a blow to the industry, leaving real estate owners scrambling to find replacements for vacated boxes.
There are, meanwhile, some retailers planning meaningful expansions in 2018 and beyond. The idea of having bricks and mortar is still an important part of the business — most companies admit they can’t succeed in retail without stores.
“There are still retailers looking for quality space,” Suzanne Mulvee of CoStar Group told CNBC. “I think your issue is there is a mismatch in the marketplace that has to be dealt with. … The store closures are for very large boxes, while the folks opening stores are looking for mid-to-smaller boxes.”
According to CoreSight Research, more than 3,000 stores are slated to be closed this year by retailers including Claire’s, Zales parent company Signet Jewelers, Lane Bryant owner Ascena Retail Group and Best Buy. Filling the gaps, though not entirely, roughly 1,700 store openings are planned so far from companies including Warby Parker, Gap and Aldi.
Here are eight retailers opening more stores in 2018.
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