Store Tracker Extra: More Data Each Month

In our US Store Tracker Extra monthly series, we offer insight into retailers’ store closure and opening announcements on a monthly basis—supplementing our Weekly US and UK Store Openings and Closures Tracker report. We include retailer-level details on closures and openings as a percentage of total store base as well as square-footage impact. This report also offers a comparison between year-to-date announced closures and openings as of February 25, 2022 (corresponding to week 8 in our Weekly US and UK Store Openings and Closures Tracker) versus the comparable period in 2021 (the four weeks ended February 26, 2021).

2022 Major US Store Closures: Proportion of Store Base and Square Footage

As of February 25, 2022, major US retailers have announced 891 store closures for this year. This compares to 2,170 announced closures in the comparable period of 2021, as we discuss later in this report. In February 2022, the following retailers made store closure announcements:

• Charming Charlie plans to close two stores in 2022, which represent 6% of its total store base of 34 stores. The closures will account for an estimated 14,000 square feet of total retail space.
• Decathlon plans to close its two stores in the US in 2022. The closures will account for an estimated 87,000 square feet of total retail space.
• Earth Fare has closed one store year to date in 2022, which represents 4% of its total store base of 27 stores. The closure accounts for an estimated 25,000 square feet of total retail space.
• H&M plans to close 25 stores in 2022, which represent 5% of its total store base of 548 stores. The closures will account for an estimated 562,500 square feet of total retail space.
• Havertys plans to close two stores in 2022, which represent 2% of its total store base of 118 stores. The closures will account for an estimated 100,000 square feet of total retail space.
• Sally Beauty plans to close 100 stores in 2022, which represent 3% of its total store base of 3,527 stores. The closures will account for an estimated 170,000 square feet of total retail space.
• Sears Hometown has closed one store year to date in 2022, which represents less than 1% of its total store base of 325 stores. The closure accounts for an estimated 9,000 square feet of total retail space.
• Skechers plans to close 16 stores in 2022, which represent 3% of its total store base of 515 stores. The closures will account for an estimated 48,000 square feet of total retail space.

In Figure 1, we offer a breakdown of estimated closures announced by various retailers, along with a representation of the proportion of their total store base that will be impacted.

---

Figure 1. Year-to-Date Announced US Store Closures Estimates for 2022, by Retailer, in Comparison to Total Store Base (Listed by Most to Least Closures) [wpdatatable id=1775 table_view=regular]

---

Store-count information for retailers in the above list are based on the third quarter of the fiscal year ended February for most public companies. *Total store base is for North America as a US-specific breakdown could not be obtained. Source: Company reports/Coresight Research Overall, the announced year-to-date closures equate to over 18.4 million square feet in closed retail space, we estimate. In Figure 2, we show the estimated square-footage impact of various retailers’ year-to-date store closure announcements for 2022.

---

Figure 2. Year-to-Date Announced 2022 US Store Closures Estimates in Gross Square Feet, by Retailer (Thous.) [caption id="attachment_142546" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]  

2022 Major US Store Openings: Proportion of Store Base and Square Footage 

As of February 25, 2022, major US retailers have announced 2,292 store openings. This compares to 1,854 announced openings in the comparable period of 2021, which we discuss later in this report. In January, the following retailers announced store openings for 2022:

• 99 Ranch has opened one store in 2022, representing a 2% expansion of its existing store fleet of 55 stores. The new opening accounts for an estimated 44,000 square feet of total retail space.
• Academy Sports and Outdoors plans to open eight stores in 2022, representing a 3% expansion of its existing store fleet of 251 stores. The new openings will account for an estimated 560,000 square feet of total retail space.
• Aldi plans to open 155 stores in 2022, representing a 7% expansion of its existing store fleet of 2,149 stores. The new openings will account for an estimated 2.5 million square feet of total retail space.
• Allbirds has opened one store in 2022, representing a 4% expansion of its existing store fleet of 24 stores. The new opening accounts for an estimated 3,000 square feet of total retail space.
• At Home plans to open 25 stores in 2022, representing an 11% expansion of its existing store fleet of 231 stores. The new openings will account for an estimated 2.6 million square feet of total retail space.
• Balenciaga plans to open one store in 2022, representing a 3% expansion of its existing store fleet of 30 stores. The new opening will account for an estimated 1,400 square feet of total retail space.
• Bob’s Discount Furniture plans to open 16 stores in 2022, representing an 11% expansion of its existing store fleet of 152 stores. The new openings will account for an estimated 576,000 square feet of total retail space.
• Crate & Barrel has opened one store in 2022, representing a 1% expansion of its existing store fleet of 75 stores. The new opening accounts for an estimated 3,000 square feet of total retail space.
• CubFoods has opened one store in 2022, representing a 1% expansion of its existing store fleet of 106 stores. The new opening accounts for an estimated 8,600 square feet of total retail space.
• David’s Bridal plans to open two stores in 2022, representing a 1% expansion of its existing store fleet of 297 stores. The new openings will account for an estimated 50,000 square feet of total retail space.
• Fleet Feet has opened one store in 2022, representing an expansion of less than 1% of its existing store fleet of 246 stores. The new opening accounts for an estimated 3,000 square feet of total retail space.
• Gucci plans to open two stores in 2022, representing a 2% expansion of its existing store fleet of 98 stores. The new openings will account for an estimated 4,000 square feet of total retail space.
• H&M plans to open 13 stores in 2022, representing a 2% expansion of its existing store fleet of 548 stores. The new openings will account for an estimated 293,000 square feet of total retail space.
• Havertys plans to open four stores in 2022, representing a 3% expansion of its existing store fleet of 118 stores. The new openings will account for an estimated 200,000 square feet of total retail space.
• Home Depot has opened two stores in 2022, representing an expansion of less than 1% of its existing store fleet of 2,317 stores. The new openings account for an estimated 208,000 square feet of total retail space.
• J.Crew has opened one store in 2022, representing a 1% expansion of its existing store fleet of 126 stores. The new opening accounts for an estimated 3,000 square feet of total retail space.
• Macy’s plans to open 10 stores in 2022, representing an 1% expansion of its existing store fleet of 725 stores. The new openings will account for an estimated 200,000 square feet of total retail space.
• Mango plans to open one store in 2022, representing a 13% expansion of its existing store fleet of 8 stores. The new opening will account for an estimated 23,000 square feet of total retail space.
• Murphy USA has opened two stores in 2022, representing an expansion of less than 1% of its existing store fleet of 1,521 stores. The new openings will account for an estimated 5,600 square feet of total retail space.
• Parachute plans to open 18 stores in 2022, representing a 12% expansion of its existing store fleet of 150 stores. The new openings will account for an estimated 54,000 square feet of total retail space.
• Petsense plans to open 10 stores in 2022, representing an 6% expansion of its existing store fleet of 178 stores. The new openings will account for an estimated 55,000 square feet of total retail space.
• Primark plans to open seven stores in 2022, representing a 54% expansion of its existing store fleet of 13 stores. The new openings account for an estimated 252,000 square feet of total retail space.
• QuickChek has opened two stores in 2022, representing a 1% expansion of its existing store fleet of 164 stores. The new openings account for an estimated 11,000 square feet of total retail space.
• Rhone has opened one store in 2022, representing a 17% expansion of its existing store fleet of 6 stores. The new opening accounts for an estimated 1,300 square feet of total retail space.
• Road Runner Sports plans to open one store in 2022, representing a 2% expansion of its existing store fleet of 41 stores. The new opening will account for an estimated 4,500 square feet of total retail space.
• Scotch & Soda has opened one store in 2022, representing a 3% expansion of its existing store fleet of 39 stores. The new opening accounts for an estimated 1,700 square feet of total retail space.
• Skechers plans to open 14 stores in 2022, representing a 3% expansion of its existing store fleet of 515 stores. The new openings will account for an estimated 42,000 square feet of total retail space.
• Sprouts Farmers Market opened two stores in 2022, representing a 1% expansion of its existing store fleet of 383 stores. The new openings account for an estimated 59,600 square feet of total retail space.
• Tractor Supply Company plans to open 75 stores in 2022, representing a 4% expansion of its existing store fleet of 2,003 stores. The new openings will account for an estimated 3.3 million square feet of total retail space.
• Value City Furniture has opened one store in 2022, representing a 1% expansion of its existing store fleet of 124 stores. The new opening accounts for an estimated 91,000 square feet of total retail space.
• Versace plans to open 16 stores in 2022, representing a 41% expansion of its existing store fleet of 39 stores. The new openings will account for an estimated 27,000 square feet of total retail space.
• Verlo Mattress has opened one store in 2022, representing a 3% expansion of its existing store fleet of 35 stores. The new opening accounts for an estimated 25,000 square feet of total retail space.
• Watches of Switzerland has opened three stores in 2022, representing an 8% expansion of its existing store fleet of 36 stores. The new openings account for an estimated 15,000 square feet of total retail space.
• Whole Foods Market has opened three stores in 2022, representing a 1% expansion of its existing store fleet of 512 stores. The new openings account for an estimated 144,000 square feet of total retail space.
• Your CBD Store has opened one store in 2022, representing an expansion of less than 1% of its existing store fleet of 483 stores. The new opening accounts for an estimated 2,000 square feet of total retail space.

In Figure 3, we offer a breakdown of estimated openings announced by various retailers, along with a representation of the size of the expansion in proportion to their existing store base.

---

Figure 3. Year-to-Date Announced US Store Openings Estimates for 2022, by Retailer, in Comparison to Total Store Base (Listed by Most to Least Openings) [wpdatatable id=1776 table_view=regular]

---

Store count information for retailers in the above list are based on reported counts from the third quarter of the fiscal year, ended February 2022 for most public companies. *Total store base count is for North America as a US-specific breakdown could not be obtained. **Aerie includes Aerie stores and OFFLINE stores. TJX Companies includes HomeGoods, Homesense, Marmaxx (Marshalls and T.J. Maxx) and Sierra stores. Macy’s includes Macy’s, Bloomingdale and Bluemercury banners. Amazon includes Amazon Fresh and Amazon Style banners. Source: Company reports/Coresight Research Overall, the announced year-to-date openings equate to over 41.4 million square feet in new retail space, we estimate. In Figure 4, we show the square-footage impact of various retailers’ year-to-date store opening announcements for 2022.

---

Figure 4. Year-to-Date Announced 2022 US Store Openings Estimates in Gross Square Feet, by Retailer (Thous.) [caption id="attachment_142555" align="aligncenter" width="700"] TJX Companies includes HomeGoods, Homesense, Marmaxx and Sierra stores. Amazon includes Amazon Fresh and Amazon Style banners. Aerie includes Aerie stores and OFFLINE stores.
Total includes a small number of retailers that will each open less than 16,000 square feet of new retail space and are not included in the chart.
Source: Company reports/Coresight Research [/caption]  

2022 Versus 2021: A Year-to-Date Comparison

The charts below depict the week-by-week totals of announced US store closures and openings year to date in 2022, as well as the comparative figures for 2021. Compared to this time last year, openings announcement totals are ahead in 2022, while closures announcements are behind. Year-to-date announced store closures in February 2022 are led by drugstores, which account for 357 closures, primarily due to CVS Health’s plan to close 300 stores in 2022. The closures for the sector representing 40% of total closures. The year-to-date equivalent closures for February 2021 was led by apparel retailers, which accounted for 990 closures, representing 46% of total closures. Year-to-date announced store openings in February 2022 are led by discount store retailers, which account for 1,208 openings, representing 53% of total openings. The year-to-date equivalent openings for February 2021 were also led by discount store retailers, which accounted for 1,286 openings, representing 59% of total announced openings.

---

Figure 5. US Announced Store Closures and Openings: Week-by-Week Comparison, 2022 (Top) vs 2021 (Bottom) [wpdatachart id=393]   [wpdatachart id=394]

---

February 2022 and 2021 span weeks 5 to 8. Coresight Research periodically updates the count for openings and closures when there are new updates or revisions to previous announcements from companies, and this could involve retrospective revisions of totals for some weeks. Source: Company reports/Coresight Research

US Retail Bankruptcies: 2022 Versus 2021

There were no major retail bankruptcies in February 2022. In the table below, we list bankruptcy filings for the comparable period of 2021, ended February 28, 2021. Our Retail Bankruptcies Databank offers a more detailed list of US and UK retail companies, restaurants and gyms that have filed for bankruptcy since March 2020.

---

Figure 6. 2021 Major US Retail Bankruptcies as February 28, 2021 [wpdatatable id=1779 table_view=regular]

---

*Belk emerged from bankruptcy in February 2021 Source: Company reports/Coresight Research Notes Figures represent store openings and closures that occurred, or are expected to occur, in the respective calendar years. For some retailers, store opening and closure numbers are estimated, including from part-year data, global figures or announced closure/opening programs that span multiple years. Estimates are updated as companies announce details. Figures for openings and closures are gross. Figures represent retail (B2C) closures, so closures by solely B2B companies are excluded. Total square footage being opened or closed is typically estimated from retailers’ average gross store sizes.