Despite the dire outlook for brick-and-mortar retailers competing against online giants like Amazon, a new report from research and advisory firm IHL Group found that more chains are opening more new locations than closing them.
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Contrary to popular belief, the brick-and-mortar retail sector is not struggling to stay afloat. Although some retail brands, including Sears, Pizza Hut, and Dressbarn, are shutting down swaths of stores, the research and advisory firm IHL Group found that more chains are opening new locations than closing them. In 2019, the number of chains opening new locations increased by 56 percent: 1,065 stores opened new locations this year, compared to 675 in 2018. For every chain with a net closing of stores, there are five chains opening stores, totaling a net gain of 3,000 store openings versus closures.
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