Retail Review V1 2024 FINAL - Flipbook - Page 8
RIGHTSIZING THE
RETAIL FOOTPRINT
Continuing the narrative from the previous section, the national retail market is undergoing
a signi昀椀cant transformation. While some struggling retailers (like Family Dollar and Macy’s)
are downsizing by announcing store closures, others (like Target) are actively expanding their
footprints. However, this is not necessarily contradictory behavior.
Retailers are strategically “rightsizing” their real estate portfolios—some are favoring smallerformat urban locations to better reach population centers, while others are doubling down on
larger suburban big-box stores. This rightsizing re昀氀ects an effort to provide greater convenience
and an enhanced customer experience.
TARGET
ALDI
TAKE 5
Target has unveiled plans for
new store locations, kicking
off a 300-store expansion.
Locations span the US, with a
mix of large stores (over $15
billion in sales projected) and
smaller urban formats.
ALDI leads the pack in
grocery store expansion, with
45 new locations planned
for 2024. The company is
also moving forward with its
acquisition of Winn-Dixie’s
parent company.
Take 5 Oil Change, which
now has a presence across
41 states, has 300 new units
in the development pipeline
in the rapidly growing quickservice auto sector.
