Discount stores poised for most 2023 growth, retail researchers say

Dollar General, Five Below and Family Dollar, stores with Cape Girardeau County footprints, are among the off-price and discount outlets poised — given the current inflationary spiral — for the most planned U.S. openings in 2023, New York-based Coresight Research said.

According to data released Dec. 23 by Coresight, U.S. retailers have 522 planned closures slated this year and 1,846 anticipated openings.

"[The trend is] likely not good for department stores as both luxury companies and off-price retailers compete directly with them," United Bank of Switzerland analyst Jay Sole wrote. "We expect department stores to close locations as challenges persist."

In 2020, one of the nation's best-known "big box" department stores, Macy's, outlined a plan to close 125 stores in lower-tier malls no later than 2023.

Macy's in Cape Girardeau's West Park Mall closed March 21, 2021.

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