T.J.Maxx, Dollar Tree and Ulta are among several retailers that are thriving and adding stores, challenging the notion of an industry in decline, notes USA Today. HomeGoods, Marshalls and T.J.Maxx, all owned by TJX, are opening stores to meet demand that is particularly strong among Millennials, thus expanding retail space by about 5 percent yearly.
Ulta, which opened 100 stores last year, says it plans to keep up that pace for the next few years, until it reaches between 1,400 and 1,700 stores.
Dollar Tree opened about 620 stores over the past year and shows no signs of any slowdown. “We will certainly open hundreds of new Dollar Tree and hundreds of new Family Dollar stores” over the coming year, Randy Guiler, Dollar Tree’s vice president for investor relations told USA Today.
IKEA, which opened four stores last year, is adding three more over the coming two years. The company is also expanding its click-and-collect model, by which customers purchase goods online and then pick up the merchandise in-store.
By Edmund Mander