Many retailers are downscaling, but that’s certainly not the case for the thrifty side of the market.
Dollar stores and off-price chains are making the most out of increased sales and bargain shoppers and the stats show strong growth in expansion. The dollar stores hold down half the spots on a list of top 10 retailers adding the most new store square footage, according to commercial real estate and analytics firm CoStar.
Dollar General claimed the second spot on the list with 6,529,566 square feet. Family Dollar and Dollar Tree finished at #4 and #5 with 4,272,893 square feet 3,210,000 square feet respectively.
“Part of the appeal is convenience, which makes a big network of stores important,” says Hunter Harris, Vice President of Boston Retail Partners. "Dollar stores also tend to drive growth with new locations, not big growth in sales at existing stores.”
Below is a list of the 10 retailers that acquired the most new square footage as of the second quarter of 2016, according to CoStar:
1. Wal-Mart (Super Centers and Neighborhood Markets), 15,020,000 square feet
2. Dollar General, 6,529,566 square feet
3. Forever 21, 5,700,000 square feet
4. Family Dollar, 4,272,893 square feet
5. Dollar Tree, 3,210,000 square feet
6. Marshalls, 3,007,000 square feet
7. T.J. Maxx, 2,873,989 square feet
8. Dick's Sporting Goods, 2,650,000 square feet
9. Tractor Supply Co., 1,860,000 square feet
10. Ulta Beauty, 1,170,000 square feet