GM finally got around to his annual survey of the stores of Georgetown last weekend, and he’s compiling the results. But just as a preview, he’ll give you the totals for closings and openings.
Last year GM did the survey in late June, so this year’s totals reflect a shorter 10 month time frame. That said, here’s the preliminary results:
There were 25 closings over the past 10 months. That’s significantly fewer than we saw for last year’s report (51). If we normalize both years to 12 months, we’d have 30 closings for this past year and 41 closings for the year before. So we’re definitely losing stores at a much slower rate than we did last year. But it’s about the same that we saw in 2014 (33).
There were 23 openings over the past 10 months. That’s a slower rate than the year before, which was 43. Normalized to 12 months that’s 28 and 34 respectively. That seems like a slow down, but the fact that fewer stores closed meant there were fewer opportunities for new stores to open. Having a net loss of two stores is better than a net loss of eight.
Check back next week for a fuller analysis.