2020 was a rough year for retail chains in New York City, making even a slow year, like 2021, look like a recovery.
"After 12.8 percent of New York City chain stores shuttered in 2020, hitting a 12-year high, there was a 2.8 percent increase in chain retailers in 2021," reports Rebecca Baird-Reimba.
Baird-Remba is sharing news from the Center for an Urban Future's annual "State of the Chains" report.
Poor performers over the past year include some of the biggest names in chains:
Metro by T-Mobile closed 21 outposts in 2021, and T-Mobile shuttered 15. McDonald’s also closed seven locations — five in Manhattan and two in Queens. Starbucks has seen a net decline of 41 locations since 2019. Duane Reade and Walgreens have shuttered three locations over the past year and 67 stores since 2019.
The source article, linked below, provides details on chains in several categories, including fast food (the best performing chain category in 2021), fast-casual food, beauty retailers, and apparel chains.
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