Despite poor economy, nearly a third of top retailers expand in NYC

TRD New York /
Aug.August 18, 2009 11:22 AM

Thirty percent of top national retailers expanded their presence in New York City over the last year, according to an annual report released by the Center for an Urban Future today. The report, which tracks 277 retailers with two or more stores in the city, looks at data from July 2008 through July 2009.

In addition to the 30 percent of retailers that expanded despite the poor economy, 30 percent of the stores listed maintained the same number of locations they had in the five boroughs the year before.

“I would have thought a significant majority of chains would have contracted,” Jonathan Bowles, the center’s director said. “It’s no suprise that there’s a lot of national retailers in New York City — the biggest surprise is that a significant number of national chains expanded.”

Bowles also noted that smaller chains — those that don’t take up a large amount of physical space — like McDonald’s, Starbucks and Dunkin’ Donuts fare better in the five boroughs than stores like Wal Mart. This accounts for the proliferation of locations among certain chains, Bowles said.

In fact, the report shows that 12 of the national retailers listed have over 100 or more locations across the city. Dunkin’ Donuts once again topped the list as the most prevalent national retailer in the five boroughs, with 429 locations — 68 more than Subway, which came in second place. TRD

Related Articles

Federal Realty Investment Trust CEO Donald C. Wood and Georgetowne Shopping Center (Credit: Google Maps)

Fairway-anchored Bergen Beach shopping center sells for $85M

Donald Trump and Dean & Deluca's Soho location (Credit: Getty Images, iStock)

Trump Organization sues Dean & DeLuca over rent defaults

Forever 21 owes these five mall owners $20.9 million, bankruptcy court records show.

For mall owners like Simon, Brookfield and Vornado, Forever 21 bankruptcy signals more trouble ahead

10 Madison Square West (Credit: StreetEasy, iStock)

Lawsuit: Pet Smart’s animal excrement is stinking up this $11K-a-month apartment

Clockwise from top left: 312 West 34th Street, 61 North 9th Street, 639 Classon Avenue, and One Fulton Square (Credit: Google Maps)

These were the top 10 NYC retail leases in July

A Nordstrom store (Credit: Getty Images)

The worst stocks you can buy? Retail. And for many, it isn’t getting better.

From left: Topshop and Topman stores at 478 Broadway, Arcadia Group CEO Philip Green, and Vornado CEO Steven Roth (Credit: Getty Images and Google Maps)

US landlords say Topshop owner is freezing them out amid bankruptcy

Sears CEO Edward Lampert (Credit: Getty Images and iStock)

Bringing the band back together: Eddie Lampert to buy Sears Hometown and Outlet Stores