In one of his most famous songs, popular folk singer and icon Bob Dylan once wrote the times they are a changing. And they are. The U.S. economy has been shaken to the bone by the recent recession and is still struggling to recover, and by a populace that is continuing to shop online.
Both have had enormous impact on the U.S. economy and U.S. business.
Over the last two weeks, Weekly Industry News looked at business trends in the U.S. Our first story showed eight industries that won’t be a part of the U.S. business climate much longer.
We’ll list them at the end of this story. Last week we listed 10 big name stores that are struggling and closing stores. They are:
1. Abercrombie & Fitch
3. Barnes and Noble
4. Family Dollar
5. JC Penny
7. Office Depot
9. Sears Holdings
Here are 10 stores that are seeing serious expansion. You notice one easy to spot trend. The stores seeing the most growth are bargain basement offering very cheap or very inexpensive merchandise.
Three of the biggest boomers are dollar stores.
• Men’s Warehouse — Business is good. Look for 100 new stores. And it just completed the purchase of rival Jos. A. Bank and that gives the company 600 more stores.
• Hobby Lobby — Other than becoming practically a household name because of the U.S. Supreme Court challenge, Hobby Lobby is also a solid business model and will be adding 101 new locations to the 600 it already has.
• Dick's Sporting Goods — Web operations and a solid business model is propelling the company forward and it will add 105 new stores.
• O'Reilly Auto Parts — Auto parts is a growing business and O’Reilly’s saw a 16% increase in business in the fourth quarter of last year. It will open 200 new stores.
• Tim Hortons — The merger last year with Burger King means the two firms now possess 18,000 stores in 100 countries. To celebrate the Canadian coffee and donut shop is going to add 300 new stores to the 4,500 it already owns and operates.
• Family Dollar — It’s going to add 375 stores and is anxiously awaiting a Federal Trade Commission decision on whether it can purchase Dollar Tree for $8.5 billion. And — by the way — Family Dollar is the only retailer to make the top-10 list in the most store openings and the most store closings.
• Dollar Tree — Last year the company opened 90 new stores. Another 375 are planned in the future. The business is complicated because of the proposed merger with Family Dollar and antitrust authorities reviewing the possible closure of 500 of them.
• Dunkin’ Donuts — The Company will open 410 stores to add to the 405 they did last year. To date there are 11,000 Dunkin’ Donuts around the world.
• Forever 21 — Business is booming and 470 stores will be added this year for the cheap merchandise clothing store. In the next three-years Forever 21 will add another 600 to double the current base of stores.
• Dollar General — The biggest growth of any business is going to come from Dollar General who is adding 700 stores. By the way, it recently failed in an attempt to acquire Family Dollar who is absorbing Dollar Tree who is expanding.
As noted earlier, these are the eight industries that will soon disappear in the U.S.:
• DVD, game & video rental services: Look for a 15.1% drop.
• Solar panel manufacturing: Closures will be 8.9% by 2020.
• Apparel knitting mills: By 2020 an estimated 7.1% of the nation’s mills will be gone.
• Recordable media manufacturing: The industry will see a 6.2% drop in stores.
• Photofinishing services: You’ll see a drop of 5.5% by 2020.
• Mail order: Closures will be 5.3% by 2020.
• Computer peripheral manufacturing: Look for 4.5% of stores closing.
• Database and directory publishing: You’ll see a drop of 4.1%.
Source: MSN Money