Dollar General, Academy Sports and More Retailers Opening New Stores in 2024 and Beyond

[ad_1]

As 2023 winds down, some retailers are heading into the new year with ambitious store expansion plans.

From discount chains to sporting goods retailers, here are some of the store openings slated for 2024.

Academy Sports + Outdoors

A robust store expansion plan is a key element in Academy’s long-term growth plan. The company is aiming to open 120 to 140 new stores by 2027, expanding its store base by 50 percent in existing and new markets.

In the long-term, Academy sees the potential to grow its store count to 800 while balancing growth in existing and new locations.

Academy EVP and chief merchandising officer Matt McCabe told FN in a statement that 2024 new store opening projections would be shared in the company’s next earnings call.

“Having said that, we believe Academy is well-positioned to deliver growth and believe new store openings will be a key contributor to the brand’s success,” McCabe said.

Boot Barn

The boot retailer said it plans to open more than 50 stores in 2024 after opening about 50 in 2023. In the long run the company said it sees the potential to grow to 900 or more stores in the United States. As of November, Boot Barn had a total of 371 stores across the U.S.

Dick’s Sporting Goods

Dick’s is set to open 10 House of Sport locations throughout 2024. The company expects to have between 75 to 100 locations of the experiential store concept nationwide by the end of 2027.

Dollar General

The discount retailer plans to open 800 new stores and conduct 1,500 remodels and 85 relocations in fiscal year 2024. Included in these plans are the addition of 30 new Pop Shelf locations and the chain’s entry into Mexico with 15 new Mi Súper Dollar General stores there.

“We are placing a heavier emphasis on rural stores in 2024 with more than 80 percent of our new stores planned in rural communities where we believe we can have the most significant and positive impact for our customers,” said Dollar General CEO Todd J. Vasos in a call with analysts in early December.

Five Below

In a call with analysts in late November, Five Below CEO and president Joel Anderson said the company’s “real estate teams have built a strong pipeline of new stores for 2024.”

A special report from William Blair Equity Research in December, which named discount retailer Five Below as a top stock pick for 2024, said it expects to see the chain open about 255 new stores in 2024, with a longer-term goal of 3,500 stores.

Macy’s

The department store retailer plans to open up to 30 more small-format Macy’s locations through fall 2025. It also plans to expand its small format Bloomie’s concept as well.

Nordstrom Rack

Nordstrom has at least 10 new Rack stores slated to open in 2024, according to its website.

REI

REI announced that it has four stores slated to open in 2024. They will be located in Beavercreek, Ohio, Ithaca, N.Y., Beaverton, Ore. and Tulsa, Okla.

Rothy’s

Rothy’s is betting big on brick and mortar in the new year. With 18 stores in operation, the sustainable company plans to open at least another 10 in the U.S. in 2024.

In 2023, Rothy’s opened four stores, and the locations helped fuel a 37 percent increase in retail sales to date this year. Going forward, key markets include Texas, Florida and the Northeast region.

Uniqlo

Uniqlo said it would open 20 new locations across the U.S. and Canada throughout 2024. This would be double the number of North American store openings in 2023.

[ad_2]

Source link