The number of chain stores across New York City last month was roughly 10% less than in late 2019. All eight of the city’s largest chain retailers — including Dunkin’ Donuts, Metro PCS and Subway — have fewer locations now than three years ago.
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“New York City’s economy came back quite a bit in the past year, but New York City's national retail chains are still really in first gear,” said Jonathan Bowles, the group’s executive director. “There's a long way to go for us to get back to where retailers were prior to the pandemic.” But as more than half of office workers remain home on an average weekday, the report found Manhattan’s chain losses were “significantly greater” than any other borough, with 14% fewer chains spread across the island than pre-pandemic.
Indeed, Duane Reade contracted more than any other retailer, shedding 22 stores in the last year, continuing a trend that has seen the retailer close 28% of its storefronts since the start of the pandemic, according to the report.
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