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Chain Retailers Have Diminished NYC Presence Compared to 2019
Despite a 0.3% increase in locations as of November, the number of chain stores in New York City was still 9.8% below the total from late 2019—or 782 fewer stores than before the pandemic, reported the Center for an Urban Future (CUF) in its annual study of national retailers in the city.
The latest report finds that 57% of the retailers that were featured in its 2019 State of the Chains report have fewer locations today than they did before the pandemic, including 11% that no longer have any stores here. Additionally, all eight of the city’s largest chain retailers have fewer locations today than they did in 2019.
Although no borough has fully bounced back to its pre-pandemic chain store level, Manhattan’s losses are significantly greater than those of any other borough, “perhaps unsurprisingly, given diminished office occupancy,” CUF says.
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