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 November 26, 2021 (corresponding to week 47 in our Weekly US and UK Store Openings and Closures Tracker) versus the comparable period in 2020 (the 48 weeks ended November 27, 2020).

2021 Major US Store Closures: Proportion of Store Base and Square Footage

As of November 26, 2021, major US retailers have announced 5,031 store closures for this year. This compares to 8,276 announced closures in the comparable period of 2020, as we discuss later in this report. In November 2021, the following retailers made store closure announcements:

• Burlington plans to close seven stores in 2021, which represent less than 1% of its total store base of 761 stores. The closures account for an estimated 485,000 square feet of total retail space
• Dollar Tree has closed 39 stores year to date in 2021, which represent less than 1% of its total store base of 7,741 stores. The closures account for an estimated 501,000 square feet of total retail space.
• Family Dollar has closed 56 stores year to date in 2021, which represent 1% of its total store base of 7,865 stores. The closures account for an estimated 640,000 square feet of total retail space.
• Foot Locker has closed 177 stores in North America year to date in 2021, which represent 8% of its total store base of 2,119 stores. The closures account for an estimated 877,000 square feet of total retail space.
• Fossil has closed 22 stores in North America year to date in 2021, which represent 12% of its total store base of 189 stores. The closures account for an estimated 30,000 square feet of total retail space.
• Guess? has closed seven stores year to date in 2021, which represent 3% of its total store base of 254 stores. The closures account for an estimated 35,000 square feet of total retail space.
• Hollister has closed 15 stores year to date in 2021, which represent 4% of its total store base of 347 stores. The closures account for an estimated 101,000 square feet of total retail space.
• Kmart plans to close 29 stores in 2021, which represent a very substantial 83% of its total store base of 35 stores. The closures account for an estimated 2.7 million square feet of total retail space.
• Lumber Liquidators has closed one store year to date in 2021, which represent less than 1% of its total store base of 410 stores. The closure accounts for an estimated 7,000 square feet of total retail space.
• Office Depot has closed 70 stores year to date in 2021, which represent 6% of its total store base of 1,244 stores. The closures account for an estimated 1.4 million square feet of total retail space.
• Sally Beauty has closed 90 stores year to date in 2021, which represent 3% of its total store base of 2,753 stores. The closures account for an estimated 153,000 square feet of total retail space.
• Save A Lot has closed two stores year to date in 2021, which represent less than 1% of its total store base of 1,300 stores. The closures account for an estimated 34,000 square feet of total retail space.
• Shoppers has closed one store year to date in 2021, which represents 5% of its total store base of 21 stores. The closure accounts for an estimated 48,000 square feet of total retail space.
• Sleep Number has closed 25 stores year to date in 2021, which represent 4% of its total store base of 605 stores. The closures account for an estimated 70,000 square feet of total retail space.
• Tapestry has closed 41 stores year to date in 2021, which represent 6% of its total store base of 645 stores. The closures account for an estimated 101,000 square feet of total retail space.
• Williams-Sonoma has closed 23 stores year to date in 2021, which represent 4% of its total store base of 572 stores. The closures account for an estimated 246,000 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.

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Figure 1. Year-to-Date Announced US Store Closures Estimates for 2021, by Retailer, in Comparison to Total Store Base (Listed by Most to Least Closures) [wpdatatable id=1501 table_view=regular]

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Store-count information for retailers in the above list are based on the third quarter of the fiscal year ended January 2021 or the fourth quarter of the fiscal year ended December 2020 for most public companies. *Ascena Retail includes Justice, Catherines, Ann Taylor, Lane Bryant, LOFT and Lou & Grey. Foot Locker includes Foot Locker, Lady Foot Locker, Champs Sports and Foot Action stores. Williams-Sonoma includes Williams Sonoma and Pottery Barn store banners. TJX Companies includes HomeGoods, Homesense, Marmaxx (Marshalls and T.J. Maxx) and Sierra stores. Amazon includes Amazon Fresh and Amazon Go banners. **Total store base count represented for Genesco is global. For Aerie, Disney, Gap, Michaels Stores, Old Navy and Signet Jewelers the store count 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 57.0 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 2021.

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Figure 2. Year-to-Date Announced 2021 US Store Closures Estimates in Gross Square Feet, by Retailer (Thous.) [caption id="attachment_137129" align="aligncenter" width="700"] Ascena Retail Group includes Justice, Catherines, Ann Taylor, Lane Bryant, LOFT and Lou & Grey. Amazon includes Amazon Fresh and Amazon Go banners. Foot Locker includes Foot Locker, Lady Foot Locker, Champs Sports and Foot Action stores.
Note: The total includes a small number of retailers that will each close less than 35,000 square feet of retail space and are not included in the chart.
Source: Company reports/Coresight Research [/caption]  

2021 Major US Store Openings: Proportion of Store Base and Square Footage 

As of November 26, 2021, major US retailers have announced 5,043 store openings. This compares to 3,241 announced openings in the comparable period of 2020, which we discuss later in this report. In November, the following retailers announced store openings for 2021:

• Abercrombie opened six stores in 2021, representing a 3% expansion of its existing store fleet of 190 stores. The new openings will account for an estimated 45,000 square feet of total retail space.
• Amazon opened 18 stores in 2021, representing a 20% expansion of its existing store fleet of 89 stores. The new openings will account for an estimated 630,000 square feet of total retail space.
• American Eagle Outfitters opened 16 stores in 2021, representing a 2% expansion of its existing store fleet of 931 stores. The new openings will account for an estimated 45,000 square feet of total retail space.
• Barton’s Home Outlet opened two stores in 2021, representing a 2% expansion of its existing store fleet of 99 stores. The new openings will account for an estimated 88,000 square feet of total retail space.
• Bath & Body Works opened 52 stores in 2021, representing a 3% expansion of its existing store fleet of 1,643 stores. The new openings will account for an estimated 195,000 square feet of total retail space.
• Best Buy opened three stores in 2021, representing an expansion of less than 1% of its existing store fleet of 991 stores. The new openings will account for an estimated 117,000 square feet of total retail space.
• Burlington Stores opened 84 stores in 2021, representing a 11% expansion of its existing store fleet of 761 stores. The new openings will account for an estimated 3.4 million square feet of total retail space.
• Chanel opened two stores in 2021, representing an expansion of 8% of its existing store fleet of 25 stores. The new openings will account for an estimated 16,000 square feet of total retail space.
• Daiso Japan plans to open one store in 2021, representing an expansion of 1% of its existing store fleet of 77 stores. The new openings will account for an estimated 10,000 square feet of total retail space.
• Fleet Feet plans to open 10 stores in 2021, representing an expansion of 5% of its existing store fleet of 185 stores. The new openings will account for an estimated 24,000 square feet of total retail space.
• Foot Locker opened 32 stores in North America in 2021, representing a 2% expansion of its existing store fleet of 2,119 stores. The new openings will account for an estimated 159,000 square feet of total retail space.
• Hollister opened nine stores in 2021, representing an expansion of 3% of its existing store fleet of 347 stores. The new openings will account for an estimated 61,000 square feet of total retail space.
• Giant Food plans to open six stores in 2021, representing an expansion of 3% of its existing store fleet of 190 stores. The new openings will account for an estimated 396,000 square feet of total retail space.
• Golf Galaxy opened seven stores in 2021, representing an expansion of 7% of its existing store fleet of 98 stores. The new openings will account for an estimated 61,000 square feet of total retail space.
• Gorjana plans to open four stores in 2021, representing an expansion of 17% of its existing store fleet of 23 stores. The new openings will account for an estimated 4,500 square feet of total retail space.
• Kohl’s plans to open four stores in 2021, representing an expansion of less than 1% of its existing store fleet of 1,162 stores. The new openings will account for an estimated 469,000 square feet of total retail space.
• Lumber Liquidators opened 13 stores in 2021, representing a 3% expansion of its existing store fleet of 410 stores. The new openings will account for an estimated 91,000 square feet of total retail space.
• Macy’s opened four Macy’s and three Bloomingdale’s stores in 2021, representing a 1% expansion of its existing store fleet of 613 stores. The new openings will account for an estimated 545,000 square feet of total retail space.
• Primark plans to open six stores in 2021, representing a significant expansion of 60% of its existing store fleet of 10 stores. The new openings will account for an estimated 216,000 square feet of total retail space.
• Ralph Lauren opened three stores in 2021, representing a 1% expansion of its existing store fleet of 230 stores. The new openings will account for an estimated 23,000 square feet of total retail space.
• Sleep Number opened 55 stores in 2021, representing a 9% expansion of its existing store fleet of 605 stores. The new openings will account for an estimated 154,000 square feet of total retail space.
• Sprouts Farmers Market plans to open 13 stores in 2021, representing a 4% expansion of its existing store fleet of 362 stores. The new openings will account for an estimated 375,000 square feet of total retail space.
• Tapestry opened five stores in 2021, representing a 1% expansion of its existing store fleet of 645 stores. The new openings will account for an estimated 15,000 square feet of total retail space.
• Trader Joe’s opened 16 stores in 2021, representing a 3% expansion of its existing store fleet of 514 stores. The new openings will account for an estimated 184,000 square feet of total retail space.
• Watches of Switzerland opened nine stores in 2021, representing a significant 90% expansion of its existing store fleet of 10 stores. The new openings will account for an estimated 45,000 square feet of total retail space.
• Warby Parker opened 26 stores in 2021, representing a significant 20% expansion of its existing store fleet of 131 stores. The new openings will account for an estimated 42,000 square feet of total retail space.
• Williams-Sonoma opened nine stores in 2021, representing a 2% expansion of its existing store fleet of 572 stores. The new openings will account for an estimated 96,000 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.

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Figure 3. Year-to-Date Announced US Store Openings Estimates for 2021, by Retailer, in Comparison to Total Store Base (Listed by Most to Least Openings) [wpdatatable id=1502 table_view=regular]

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Store count information for retailers in the above list are based on reported counts from the third quarter of the fiscal year, ended January 2021 or the fourth quarter of the fiscal year, ended December 2020 for most public companies. *Total store base count for Genesco and Payless is global, while the store base count for Athleta, Old Navy, Gap, Payless, Signet Jewelers and Michaels Stores is for North America as a US-specific breakdown could not be obtained. **Foot Locker includes the Foot Locker, Lady Foot Locker, Champs Sports and Foot Action stores. Aerie includes Aerie and OFFLINE stores. TJX Companies includes HomeGoods, Homesense, Marmaxx (Marshalls and T.J. Maxx) and Sierra stores. Amazon includes Amazon Fresh and Amazon Go banners. Williams-Sonoma includes Williams Sonoma and Pottery Barn store banners. Source: Company reports/Coresight Research Overall, the announced year-to-date openings equate to over 70.1 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 2021.

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Figure 4. Year-to-Date Announced 2021 US Store Openings Estimates in Gross Square Feet, by Retailer (Thous.) [caption id="attachment_137130" align="aligncenter" width="700"] TJX Companies includes HomeGoods, Homesense, Marmaxx and Sierra stores. Amazon includes Amazon Fresh and Amazon GO banners. Aerie includes Aerie stores and OFFLINE stores. Foot Locker includes the Foot Locker, Lady Foot Locker, Champs Sports and Foot Action stores. The square footage for Target is calculated on the assumption that the majority of stores that the company expects to open in 2021 are small-format stores.
Note: Total includes a small number of retailers that will each open less than 91,000 square feet of new retail space and are not included in the chart.
Source: Company reports/Coresight Research [/caption]  

2021 Versus 2020: 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 2021, as well as the comparative figures for 2020. Compared to this time last year, openings announcement totals are ahead in 2021, while closures announcements are behind. Year-to-date announced store closures in November 2021 are led by apparel retailers, which account for 2,139 closures, representing 43% of total closures. The year-to-date equivalent closures for November 2020 were also led by apparel retailers, which accounted for 3,176 closures, representing 38% of total closures. Year-to-date announced store openings in November 2021 are led by discount store retailers, which account for 1,936 openings, representing 38% of total openings. The year-to-date equivalent openings for November 2020 were also led by discount store retailers, which accounted for 1,662 openings, representing 51% of total announced openings.

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Figure 5. US Announced Store Closures and Openings: Week-by-Week Comparison, 2021 (Top) vs 2020 (Bottom) [wpdatachart id=343] [wpdatachart id=344]

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November 2021 spans weeks 44 to 47, while the comparable period in 2020 spans weeks 45 to 48: Our tracker counts map four weeks in January 2021, versus five weeks in January 2020. 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: 2021 Versus 2020

There were no major retail bankruptcies in November 2021. In the tables below, we offer a comparative view of year-to-date bankruptcy filings as of November 30, 2021, versus November 30, 2020. 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.

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Figure 6. 2021 Major US Retail Bankruptcies as November 30, 2021 [wpdatatable id=1505 table_view=regular]

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*Global Brands Group began winding down its business in November 2021 **The Collected Group emerged from bankruptcy in June 2021 ***Belk exited bankruptcy one day after filing N/A—Not Available Source: Company reports/Coresight Research

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Figure 7. 2020 Major US Retail Bankruptcies as of November 30, 2020 [wpdatatable id=1506 table_view=regular]

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*J.Crew Group includes J.Crew and Madewell banners. Ascena Retail Group includes Justice, Catherines, Ann Taylor, LOFT, Lane Bryant, and Lou & Grey banners; Le Tote includes Lord & Taylor banner; Tailored Brands includes Men’s Wearhouse and Jos. A. Bank, Moores Clothing for Men and K&G banners. **True Religion Apparel filed for bankruptcy for the second time after entering and exiting bankruptcy in 2017. ***Fairway Market filed for bankruptcy for the second time after entering and exiting bankruptcy in 2016. N/A – Not Available 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.