diff --git a/app/code/Magento/Store/Model/StoreManager.php b/app/code/Magento/Store/Model/StoreManager.php
index ac304017f581b..043f8c8977bec 100644
--- a/app/code/Magento/Store/Model/StoreManager.php
+++ b/app/code/Magento/Store/Model/StoreManager.php
@@ -74,9 +74,9 @@ class StoreManager implements
     protected $currentStoreId = null;
 
     /**
-     * Flag that shows that system has only one store view
+     * Flag that shows that system has only one store view; null is used as the cache sentinel.
      *
-     * @var bool
+     * @var bool|null
      */
     protected $_hasSingleStore;
 
@@ -137,8 +137,11 @@ public function setIsSingleStoreModeAllowed($value)
      */
     public function hasSingleStore()
     {
-        // TODO: MAGETWO-39902 add cache, move value to consts
-        return $this->isSingleStoreAllowed && count($this->getStores(true)) < 3;
+        if ($this->_hasSingleStore === null) {
+            $this->_hasSingleStore = $this->isSingleStoreAllowed && count($this->getStores(true)) < 3;
+        }
+
+        return $this->_hasSingleStore;
     }
 
     /**
@@ -237,6 +240,7 @@ public function getWebsites($withDefault = false, $codeKey = false)
     public function reinitStores()
     {
         $this->currentStoreId = null;
+        $this->_hasSingleStore = null;
         $this->cache->clean(
             CacheConstants::CLEANING_MODE_MATCHING_ANY_TAG,
             [StoreResolver::CACHE_TAG, Store::CACHE_TAG, Website::CACHE_TAG, Group::CACHE_TAG]
@@ -340,5 +344,6 @@ public function __debugInfo()
     public function _resetState(): void
     {
         $this->currentStoreId = null;
+        $this->_hasSingleStore = null;
     }
 }
diff --git a/app/code/Magento/Store/Test/Unit/Model/StoreManagerTest.php b/app/code/Magento/Store/Test/Unit/Model/StoreManagerTest.php
index 88ec1d48eb0ed..d55d0e95de931 100644
--- a/app/code/Magento/Store/Test/Unit/Model/StoreManagerTest.php
+++ b/app/code/Magento/Store/Test/Unit/Model/StoreManagerTest.php
@@ -139,6 +139,32 @@ public function testReinitStores()
         $this->model->reinitStores();
     }
 
+    public function testHasSingleStoreIsMemoizedAndReinitialized(): void
+    {
+        $defaultStoreMock = $this->getMockForStoreInterfaceClass(0, 'default');
+        $storeMock = $this->getMockForStoreInterfaceClass(1, 'first_store');
+
+        $this->storeRepositoryMock->expects($this->exactly(2))
+            ->method('getList')
+            ->willReturn([$defaultStoreMock, $storeMock]);
+        $this->cache->expects($this->once())->method('clean')->with(
+            CacheConstants::CLEANING_MODE_MATCHING_ANY_TAG,
+            [StoreResolver::CACHE_TAG, Store::CACHE_TAG, Website::CACHE_TAG, Group::CACHE_TAG]
+        );
+        $this->scopeConfig->expects($this->once())->method('clean');
+        $this->storeRepositoryMock->expects($this->once())->method('clean');
+        $this->websiteRepository->expects($this->once())->method('clean');
+        $this->groupRepository->expects($this->once())->method('clean');
+
+        $this->assertTrue($this->model->hasSingleStore());
+        $this->assertTrue($this->model->hasSingleStore());
+
+        $this->model->reinitStores();
+
+        $this->assertTrue($this->model->hasSingleStore());
+        $this->assertTrue($this->model->hasSingleStore());
+    }
+
     #[DataProvider('getStoresDataProvider')]
     public function testGetStores($storesList, $withDefault, $codeKey, $expectedStores)
     {