15 companies that are defying the retail meltdown by opening hundreds of new stores
- Discounters are collectively opening hundreds of new stores this year.
- Retailers planning to add new stores include Dollar General, Dollar Tree, Family Dollar, Aldi, Lidl, Five Below, and Hobby Lobby.
- Meanwhile, mall-based stores like Teavana, Rue21, Gymboree, and others are closing a record number of stores.
While many retailers are closing stores, some are rapidly building new locations, with at least one — Dollar General — adding as many as 900 stores this year.
A large majority of the retailers that are opening new stores this year are discounters, including Dollar General, Dollar Tree, Family Dollar, Aldi, Lidl, Five Below, and Hobby Lobby.
Those retailers and others will collectively open more than 2,100 stores this year, according to a Business Insider analysis based on company data.
In addition to adding 900 new stores, Dollar General plans to remodel 1,000 locations and relocate 100 stores.
Rival discounter Dollar Tree, which owns Family Dollar, expects to open “hundreds” of stores under each chain this year, a company spokesman told Business Insider. The company declined to provide an exact number until its next earnings release date in March, but it referenced its fiscal 2017 store growth — totaling 620 stores — for guidance.
The discount grocery chain Aldi, which operates 1,750 stores in 35 states, is planning to add another 180 stores this year as it works toward its goal of reaching 2,500 stores by 2022, the company said.
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