Large retailers are massively closing stores in New York

Large retail chains close their stores in New York in record numbers.

Photo: depositphotos.com

According to the new report, for the first time in 11 years, world-famous networks, such as Subway, Aerosoles, Au Bon Pain and many others, are closing more shops in New York than they open, writes Fox News.

The Urban Future Center found that record-breaking 124 retailers reduced the number of their retail space in the 2018 year, almost double the number of 65 retailers that reduced the number of stores last year.

The slowest slowdown was seen in Manhattan, where the number of big-name chain stores fell by 2,3%—"the sharpest annual decline in the history of the New York City borough." Overall, the number of chain stores in the city decreased by 0,3% to 7 outlets in 849.

Among the food chains that closed stores this year were Subway (103 outlets), Au Bon Pain (7 stores), Checkers (6), Panera Bread and Wingstop (5 stores each).

Several clothing brands and accessories also held massive store closures this year. Aerosoles, Sunglass Hut, BCBG Max Azria, Bolton's, Aeropostale, Club Monaco, True Religion, Claire's, Fossil and Gap have closed several stores this year.

Moreover, this week Gap announced the opening of a new store, the network plans to close its famous location on Fifth Avenue a few weeks after the new year.

Nevertheless, despite the general slowdown, the report notes that dozens of national retailers continue to expand their presence in New York.

The largest increase to date was among the mobile phone companies that added 129 stores last year. Coffee chains, such as Starbucks and Dunkin'Donuts, also got a big boost in 2018, with 15 and 12 new places, respectively.

Dunkin'Donuts has been 11's consecutive year to continue to be the largest national retailer in New York with stunning 624 stores in the city. T-Mobile ranks second with 472 this year, last year the network had a 444 store.

Read also on ForumDaily:

Retailers closing the largest number of stores in 2018 year

Without cashiers and queues: Walmart has introduced the latest technology for buying toys and equipment

Seven Ways to Save at Walmart on Every Purchase

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.