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NEW YORK — Retailers are planning to open more stores than they close this year, according to a mid-year tally by Coresight Research.
The firm noted on July 4 that planned and announced retail store openings for 2024 total more than 4,200. Coresight estimates that store openings this year will outpace store closures by 20%, resulting in nearly 78 million square feet of new retail space.
The report is part of Coresight Research’s monthly US Store Tracker Extra series; it represents a midyear update as the company updates its study to include announced developments as of June 28, 2024. The updated numbers show an uptick in planned store openings compared to a previous version of the report, reflecting announcements through May 31, that showed major U.S. retailers planning 3,781 store openings for the year, and 3,279 planned store closures.
More information is available at https://coresight.com/research/
