Food Stores Shrinking In Size
"The report, Facts About Store Development 2004, attributes the declining percentage of new store construction to a tough economy and a highly competitive business environment.
New store construction went down for the fourth consecutive year, totaling 3.1 percent of all stores. Store remodeling tended to be the activity of choice by most food retail companies, with 4.9 percent of those surveyed remodeling at least some stores. The percentage of store closings remained fairly stable at 2.7 percent, compared with 2.5 percent the year before. "
Thanks to Clayton Husband AICP