ICSC released a report on 3rd Quarter U.S. Retail Real Estate Supply Conditions, tracking and analysis of announced store closings and gross leasable area.
Bookstores and footwear stores combined for the majority of store closings.
The major markets affected include Chicago and Philadelphia at the top of the list.
In order for retailers to buck the trend of closing stores, due diligence with analytics prior to store openings is a must. Understanding who the core customer is, where large concentrations of those customers are located and what merchandise to offer those customers has helped retailers for years with their bottom line.