Hard Hat Areas
There's no end to retailers building new locations
If you think there aren't any cornfields or corners left for
new Wal-Mart, Barnes & Noble or Starbucks stores to inhabit,
think again. A survey by Retail Operations & Construction
shows the boom in retail expansion is getting bigger.
Of the major retailers who responded to the survey, 72% planned
to spend as much or more on new construction this year as they
did in 1998. Forty-one percent said they would spend more than
$100 million for new construction, while 23% expected to spend
$50 million to $99.9 million.
A similar survey by Ernst & Young showed 71% of top retailers
(those with sales of $1 billion or more) planned a significant
store expansion program in the next two to three years.
This means retail competition will continue to increase as
chains make it more convenient for consumers to visit their nearby
by Stacey King
Copyright © 1999 by Bond Communications.