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September 1999

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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 locations.

– by Stacey King



Copyright © 1999 by Bond Communications.



 

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