Economy Watch: Contrary to Expectations, Some Retailers Are Expanding
June 1, 2017 | by Dees Stribling | Commercial Property Executive
While retail bankruptcies are at an all-time high, there are certain retailers that are still expanding, mainly in the off-price or discount category, according to a recent CBRE retail report.
This is a time of retail closings. Just this week, Michael Kors joining the contractions—the latest in a long string this year. Even so, there are big-box retailers opening hundreds of stores covering tens of millions of square feet this year with less fanfare, according to a CBRE Group report released Wednesday.
In the report, the company highlights 13 retailers with plans to open nearly 1,700 stores all together in the U.S. this year, totaling more than 40 million square feet. Many are off-price retailers or discounters, which shoppers are increasingly favoring because they offer low prices, as well as occasional surprise discounts and limited-time merchandise to encourage return visits.
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