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U.S. retailers spending the most on remodeling since the recession

June 8, 2012

Retailers might be opening fewer stores, but they're spending money improving their existing locations — more than they've spent on remodels since the recession, according to a report from The Boston Globe.

The report says retailers such as Express and Finish Line will spend $35 billion this year on store improvements, up from $29 billion in 2009.

"We think the consumer is getting more confidence, and with that, the stores are getting more confident to expand," said Laura Pomerantz, founder of commercial real estate advisory firm PBS Real Estate in New York. "Stores have to be entertainment, they have to be service-oriented, which has clearly become very, very important to the consumer."

There also has been a change in the philosophical approach to store remodels. Prior to the recession, retailers looked for ways to tweak their store design. Today, they're asking their designers and architects to create the "store of the future" for them.

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