These 10 Retailers are Opening Stores in 2021
While the COVID-19 pandemic continues on into 2021 there are some bright spots in the retail sector. Coresight Research estimates there will be 4,000 new store openings in the United States this year. With millions of Americans struggling to make ends meet it should be no surprise that discount retailers are among the retailers with the highest number of planned new locations.
The retail sector is not out of the woods yet with store closings expected to reach 10,000 this year. But if you are curious about which retailers may pop up with a new store near you, take a look at this list.
1. Dollar General, 1,050 new stores. In the third quarter of 2020 Dollar General’s sales were up 17.3% to reach $8.2 billion. “Our data suggests an increase in new customers this quarter, as compared to Q3 of 2019. These new customers skew younger, higher income and more ethnically diverse, further underscoring the broadening appeal of our value and convenience proposition,” said Todd Vasos, Dollar General’s CEO.
2. Dollar Tree, 600 new stores. In the fourth quarter of 2020 Dollar Tree’s sales were up 7.2% to reach $6.8 billion. “In 2020, we exceeded $25 billion in annual sales for the first time, and we have a long runway of growth ahead of us,” said Michael A. Witynski, Dollar Tree’s CEO.
3. Chipotle, 200 new restaurants. In the fourth quarter of 2020, Chipotle’s sales were up 11.6% to reach $1.6 billion. “What I've seen is in the markets where we start to open those dining rooms up, you don't lose those occasions, you pick up the occasions that kind of got impacted by COVID and it really is an and situation not an or,” said Brian Niccol, Chipotle’s CEO.
4. TJX, 122 new stores. In the fourth quarter of 2020, TJX’s sales were down 10.3% to reach $10.9 billion. “We’re prepared to take advantage of the terrific real estate availability that we are seeing across each of our geographies,” said Ernie Herrman, TJX’s CEO. “With the increase in store closures by some other retailers, we are in an excellent position to open new stores in some of our target markets.”
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5. Aldi, 100 new stores. In December of 2020 sales at grocery stores in the United States increased by 7.9%. “We’re incredibly proud to continue growing in all aspects of our business, from opening new stores to enhancing our e-commerce offerings, especially in light of the challenges businesses have faced in the last year,” said Jason Hart, Aldi’s US CEO. (Revenue data is not available since Aldi is a privately held company)
6. Burlington Stores, 75 new stores. In the fourth quarter of 2020 Burlington Stores’ sales were up 4% to reach $2.3 billion. “For many years now, long predating the pandemic, the e-commerce and off-price retail sectors have been gaining market share at the expense of department stores. We believe that the aftermath of the pandemic may drive an acceleration of this trend, leading to further consolidation and additional closures of full price bricks-and-mortar retail stores,” said Michael O'Sullivan, Burlington Stores’ CEO.
7. Sephora, 60 new stores. Makeup sales in the United States were down by 34% in 2020. "We chose these locations based on a number of factors, with a focus on growing our presence in suburban and off-mall locations, ultimately making the Sephora experience more accessible to even more beauty shoppers across the country," said Sephora in a statement. (LVMH does not split out Sephora’s revenues)
8. Target, 30 to 40 new stores. In the fourth quarter of 2020 Target’s sales were up 21% to reach $28.3 billion. “We placed the physical store more firmly at the center of our omnichannel platform and we created a durable, sustainable, and scalable business model that puts Target on a road of our own,” said Target’s CEO Brian Cornell.
9. Costco, 20 to 22 new stores. In the second quarter of 2021 (ended Dec. 31st, 2020) Costco’s sales were up 14.7% to reach $43.9 billion. “We're frankly thrilled with our sales numbers and how we've done over the course of last year,” said Richard Galanti, Costco’s CFO.
10. At Home, 12 to 15 new stores. In the third quarter of 2021 (ended Oct. 24th, 2020) At Home’s sales were up 47% to reach $470 million. “When you combine our store expansion potential, our ability to increase revenue per store and the power of omnichannel, you can see why we believe we have a long runway ahead,” said Lewis Bird, At Home’s CEO.