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Chain Stores Continue Shrinking NYC Footprints
The number of chain stores in New York City declined by 3.7% to 7,832 locations over the past year, the Center for an Urban Future (CUF) said in its annual analysis of the city’s chain retailers. It represented the largest year-over-year drop in national retail locations since the CUF began keeping track more than a decade ago.
The second consecutive year of Y-O-Y declines, 2019 was also the first in which the declines were seen across all five boroughs. Queens’ chain-store count ebbed by 4.9%, the sharpest annual decline on record citywide.
More national retailers shrunk their New York City footprints than grew them in 2019, the CUF said. The latest analysis also showed that the declines were more broad-based than in 2018, now including food retailers as well.
Among 2019’s gainers was Dunkin Donuts, the city’s biggest chain for 12 years running.
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