While the coronavirus stalls the turnaround plans of struggling retailers, complicates the bankruptcies of others, and forces thousands of store closures, a few chains are actually expanding their store fleets.
Ulta Beauty is one of them. The beauty retailer took a hit from the temporary store closures, but it is betting on the ultimate recovery of the category. Gap is scaling back two of its brands with store closings, but opening an undisclosed number of Old Navy and Athleta stores. Lidl, BJ's Wholesale, and Burlington are other examples of retailers whose growth plans have not been derailed by the pandemic.
Altogether, as of Friday, retailers have announced 7,707 store closures and 3,344 store openings so far this year, according to a tracking by Coresight Research.