OPERATIONS

Study: Dunkin’ Donuts, Subway are largest chains in New York City

BY Marianne Wilson

New York — Dunkin’ Donuts is the chain with the most locations in New York City, operating 515 stores across the five boroughs, according to The Center for an Urban Future’s sixth annual “State of the Chains” study. Subway is the second largest national retailer in the city with 467 locations. Rounding out the top ten are: Duane Reade/Walgreens (with 318 stores), Starbucks (283), MetroPCS (261), McDonalds (240), Baskin Robbins (202), Rite Aid (190), T-Mobile (161) and GNC (138).

The study shows that the expansion of chain stores across the city slowed considerably over the past year, even as Dunkin’ became the first national retailer with more than 500 stores across the five boroughs. There was only a 0.5% increase in the number of national retail locations in New York City between 2012 and 2013, the smallest year-over-year increase since the center began compiling data on the city’s national retailers in 2008 — and down from a 2.4% gain between 2011 and 2012.

Although there has been a net increase in the number of national chain stores in the five boroughs for the past six years, two boroughs — Manhattan and Queens — experienced a decline in the number of chain stores between 2012 and 2013. Of the five boroughs, Brooklyn experienced the largest increase in the number of chain stores over the past year. Between 2012 and 2013, the number of national retail locations in Brooklyn increased by 2.8%, going from 1,470 stores last year to 1,511 stores this year.

There are now 15 retailers with more than 100 stores across the city, up from 14 last year. Over the past year, 7-Eleven became the latest retailer with at least 100 locations in New York; it expanded from 97 stores in 2012 to 124 today.

Other retailers that expanded their presence in 2013 include Just Salad, L’Occitane, Trader Joes, Chop’t and Claire’s Accessories. Still 29% of the national retailers on the center’s list reduced their footprint in the city over the past year, compared to 24% last year — with prominent retailers like Daffy’s and Blockbuster closing their New York stores entirely during the past year, and others such as Qdoba, Brookstone, Staples, Tasti D-Lite and Sunglass Hut downsizing significantly.

Every year, the Center adds new national retailers to its ranking. This year, it added Buffalo Exchange, Buffalo Wild Wings, Moe’s Southwestern Grill and Second Time Around. Overall, there are 306 retailers on the Center’s list this year. Together, they have 7,250 stores across the five boroughs.

Click here for the full report.

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FINANCE

Penney same-store sales up 10% in November

BY Marianne Wilson

Plano, Texas — J. C. Penney said that its same-store sales rose 10.1% for the fiscal month ending November 30, 2013. The retailer’s stock was up 4.6% to $10.57 percent in after-hours trading Tuesday.

"We are pleased with our performance over the Thanksgiving holiday weekend, particularly in light of the continued spending pressures on consumers. The combination of our great merchandise and compelling promotions put us in a position to succeed in a highly competitive environment, and our teams executed very well," said Myron E. (Mike) Ullman, III, CEO, J.C. Penney. .

Penney also said that its online sales were strong and were running well ahead of last year.

"The traffic and conversion we saw both in stores and online this weekend was exciting for everyone across our organization,” Ullman said.

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K.Starling says:
Dec-04-2013 07:05 pm

Finally some good news!
As a JCP employee, I am so gratified to finally see some positive results and more importantly, positive press for JCP. It seemed for a while there that that fool Ron Johnson had not only cost this company untold millions of dollars and decades worth of customer loyalty, but had also nailed our coffin shut for good. There is a major lesson to be learned here. No matter how many great ideas you may have or how much success you may have enjoyed in your past positions, YOU HAVE TO KNOW AND UNDERSTAND YOUR CUSTOMER. Ron Johnson clearly did not. JCP is not out of the woods yet. We have a long way to go to try to regain our old customer base while attracting a younger, more affluent new one. But this is one glimmering light of hope that we are finally on the right path.

K.Starling says:
Dec-04-2013 07:05 pm

As a JCP employee, I am so gratified to finally see some positive results and more importantly, positive press for JCP. It seemed for a while there that that fool Ron Johnson had not only cost this company untold millions of dollars and decades worth of customer loyalty, but had also nailed our coffin shut for good. There is a major lesson to be learned here. No matter how many great ideas you may have or how much success you may have enjoyed in your past positions, YOU HAVE TO KNOW AND UNDERSTAND YOUR CUSTOMER. Ron Johnson clearly did not. JCP is not out of the woods yet. We have a long way to go to try to regain our old customer base while attracting a younger, more affluent new one. But this is one glimmering light of hope that we are finally on the right path.

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FINANCE

Visa’s Black Friday weekend online sales up 30%

BY Staff Writer

New York — Visa reported that Black Friday weekend e-commerce sales across smart phones, tablets and PCs conducted by U.S. Visa accountholders increased 30% to $7.8 billion.

The company also noted that Cyber Monday ruled the five-day period with spending on Visa cards up 28% to $2.6 billion while Thanksgiving Day saw a 30% jump to nearly $1 billion.

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