Source: Center for an Urban Future
The uncertain economy may be finally catching up with chain stores in New York City, according to a study released today by the Center of an Urban Future. For the first time in the four-year history of the center’s annual study, the growth of chain stores in the city has slowed.
The number of national retail stores grew by 1.6 percent over the past year, as the 307 retailers included in last year’s ranking expanded to 6,994 stores in 2011 from a total of 6,883 stores in 2010, the study shows. But a 1.6 percent increase is far below the 4 percent rate of growth in chain stores between 2009 and 2010.
Almost a third of national retailers tracked by the center reduced their presence over the past 12 months compared to only 20 percent of chain stores that reduced in size between 2009 and 2010.
There was a gain in national retail store locations in every borough except Manhattan. Queens experienced the most significant growth, with a 5.4 percent jump in the number store locations. Chains also grew in the Bronx by 3.8 percent and in Brooklyn by 1.8 percent. Manhattan chain stores decreased by 2.1 percent.
Dunkin Donuts triumphed as the national retailer with the most outlets in New York though this was the first time that the company did not show a net gain in stores — it stayed constant with 466 stores across the five boroughs, the same number as last year. — Katherine Clarke