NYC Lost Record-Breaking Number Of Chain Stores In 2019: Study

NEW YORK CITY — Chain stores are closing in record-breaking numbers across the five boroughs, according to a new report.

New York City in 2019 lost more than 300 of its chain stores in the largest decline seen since the Center for Urban Future began tracking national retailers 12 years ago, analysts said.

"Overall, our analysis also finds that more of the city’s chain retailers are shrinking than are growing," wrote authors Marco Torres and Charles Shaviro. "This year we see notable declines among both merchandise retailers and food chains."

While the 316 major retailers reported a total 8,136 stores in 2018 there were just 7,832 in 2019, which constitutes a near 4 percent drop, according to the 2019 "State of the Chains" analysis.

For the first time, the number of food chain stores dropped as well as the number of merchandise chains, the CUF report found.

Subway lost 43 stores, Golden Krust lost 15, Little Caesar's lost 11 and Baskin-Robbins lost 10, analysts said.

Merchandise retailers continued to battle it out with e-commerce and dropped all 71 of the city's Payless outposts, Ricky's closed 12 of 14 of its makeup shops, and Mattress Firm closed 20 locations, the report shows.

But not all retailers reported downsizing.

Dunkin’ Donuts remained the city's biggest national retailer for the twelfth year running, with 12 new stores for a total of 636 locations. Starbucks opened 24 new coffee shops for a total of 351 locations.

And the pharmacy giant Walgreens is now the city's fourth-largest retailer 54 new stores for a total 317 locations, the report shows.

These neighborhoods reported the most chain stores in their boroughs:

1. Hudson Yards in Manhattan with 183 stores, up from 162 in 2018.
2. New Springfield in Staten Island with 170 stores, down from 182 in 2018.
3. Brooklyn Heights with 162, up from 155 in 2018.
4. Corono and Elmhurst in Queens with 129 stores
5. Baychester in The Bronx with 95 stores.

Manhattan had the highest concentration of chain stores with 127 per square mile while Brooklyn and The Bronx had just 24, Queens had 16 and Staten Island had 8, the report shows.

Read the full report here.