Listen Now: 2020 Retail Report: The Biggest Winners (and Losers)
While some retail stores are closing, others are getting ready for a grand opening.
While companies such as Forever 21 and Pier One are shutting some locations, the news isn’t all bad for brick and mortar. A handful of big-name chains are promising new storefronts and expanding locations.
Costco, the factory warehouse is opening in Ridgeland, Mississippi in March with more planned later this year. Also ready for business, dollar stores such as Dollar General and Dollar Tree. Whether the economy is good or bad people always love a good deal.
Target, Trader Joe’s, and Ross have more store openings planned for the year. Urban Outfitters is trying out some new ideas to bring in foot traffic. That includes smaller concept stores that combine a few of its brands under one roof. Events such as free concerts and in-store promotions will also be used to push the expansion.
Old Navy is separating from Gap and is opening a new store once its independence is official. This as their old parent company closes some locations.
I guess when one door closes, another one opens.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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