- Jan. 16, 2018, 6:33 PM
- 0
REUTERS/ Jim Young
- Discount stores are thriving while mall-based stores are closing a record number of stores.
- Discounters are collectively opening hundreds of new stores this year.
- Retailers planning to add new stores include Dollar General, Dollar Tree, Family Dollar, Aldi, Lidl, Five Below, and Hobby Lobby.
US shoppers started gravitating toward discount stores during the recession, and most never returned to shopping full-price.
Discount stores are rapidly building new locations, with at least one — Dollar General — adding as many as 900 stores this year.
A large majority of the retailers that are opening new stores this year are discounters, including Dollar General, Dollar Tree, Family Dollar, Aldi, Lidl, Five Below, and Hobby Lobby.
Those retailers and others will collectively open more than 2,100 stores this year, according to a Business Insider analysis based on company data.
Here’s a full list of companies opening hundreds of new stores:
Dollar General — 900 stores
AP
In addition to adding 900 new stores, Dollar General plans to remodel 1,000 locations and relocate 100 stores.
Dollar Tree — 320 stores
Dollar Tree, which owns Family Dollar, expects to open “hundreds” of stores under each chain this year, a company spokesman told Business Insider. The company declined to provide an exact number until its next earnings release date in March, but it referenced its fiscal 2017 store growth — totaling 620 stores — for guidance.
Family Dollar — 300 stores
Family Dollar is also expected to open several hundred more stores in 2018. The company said it will reveal more information in March.
Aldi — 180 stores
The discount grocery chain Aldi, which operates 1,750 stores in 35 states, is planning to add another 180 stores this year as it works toward its goal of reaching 2,500 stores by 2022, the company said.
Five Below — 125 stores
Five Below currently has 600 stores and plans on adding 125 more locations in 2018.
Ulta — 100 stores
Ulta has opened hundreds of stores in the last few years and will continue to do so in 2018 with 100 new locations.
Hobby Lobby — 60 stores
Hobby Lobby opened 63 new stores in 2017 and is planning on continuing its growth this year with 60 additional stores.
H&M — 60 stores
After a successful third quarter, H&M will continue to expand it’s presence across the United States with an additional 60 stores in 2018.
Lidl — 52 stores
Business Insider/Hayley Peterson
Aldi’s biggest global competitor, Lidl, launched its first US stores last year and now has 48 locations across the East Coast. The company plans to open another 52 stores by June of this year, a spokesman told Business Insider.
Target — 35 stores
Target launched a successful initiative to reimagine its stores in 2017 with services like in-store pick-up. The company plans on continuing their efforts this year in addition to opening 35 new locations.
Walmart — 25 stores
Joe Raedle/Getty
Walmart plans to open up 25 new locations that will include a mix of Neighborhood Market stores and Supercenters.
Dick’s Sporting Goods — 20 stores
Dick’s Sporting Goods has turned a corner since it’s CEO Edward Stack said the retail industry was in “panic mode.” The retailer now offers competitive price matching, it’s own private line and is planning on opening 20 new stores this year.
Nordstrom Rack — 14 stores
While Nordstrom’s same-store sales have been steadily declining, sales at it’s discount sister store have been stronger than ever. The off-price Rack stores already outnumber Nordstrom’s full-price locations and will continue to grow in 2018 with 14 new locations.
JCPenny — 1 store
JCPenny is set to open 1 new store in 2018, which is a vast improvement from 2017 when the chain was forced to close 138 locations because of slowing traffic and sales.
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Discount stores are thriving while mall-based…
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