Monday, February 10, 2020

How chain stores are rightsizing New York City retail

Retail Dive
An analysis of stores in New York City last year revealed that the number of national chain stores operating in the retail destination had dropped a notable amount. That the entire retail industry is in flux is not a secret, but the drop in one of the countries top retail destinations sparks a larger question: Is the decline of national retail brands in New York City a regional problem, or endemic of a larger retail shift?

In 2019, the number of national chain stores in New York City dropped by 304 locations, representing a 3.7% decrease over the previous year, and the biggest drop in more than 10 years, according to a report published in December by the Center for an Urban Future, a think tank that focuses on economic issues that affect the city. . . . more