Coresight Research has a dedicated team tracking news about store closures and openings, bankruptcies and management changes. Our Weekly Store Openings and Closures Tracker focuses on department stores and specialty retail, including, but not limited to, softlines, hardlines, consumer electronics, grocery and furniture.

2018 Major US Store Openings and Closures

Year-to-date 2018, the number of US store closure announcements stands at 2,220 and the number of store openings is 1,699.

What Is Happening this Week in the US?

Abercrombie & Fitch Plans to Close 60 More US Stores in 2018 This year, Abercrombie & Fitch plans to close up to 60 US stores through lease expirations and to open 11 full-price stores in the US. The retailer’s physical store strategy is increasingly tied up in its e-commerce strategy, including with returns of online orders, a “large proportion” of which are handled at its physical stores. “We look at that as an opportunity to engage our customers. And it’s a very important aspect of the way we engage customers,” said CFO Scott Lipesky. “Gen Y and Gen Z customers have an increasing expectation of being able to engage with the brand on any platform or medium they have at the moment, wherever they are in the world.” RossStores to Open 100 New Locations In 2018 Ross Stores plans to add approximately 100 new stores—75 Ross and 25 dd’s Discounts locations—during the year. The retailer recently opened 23 Ross Dress for Less and six dd’s Discounts stores across 14 different states in February and March. “With these recent openings, we continued our growth in both new and existing markets. Our newest market for Ross Dress for Less is Nebraska, and for dd’s Discounts, we entered Illinois with two new stores,” said Jim Fassio, President and Chief Development Officer. Toys“R”Us Prepares to Liquidate its Business, Closing all 800 US Stores Toys“R”Us is in the process of drafting the court motion for its liquidation plan.The retailer could file as soon as the end of Wednesday, making the motion official. The company will then begin to wind down its store network, resulting in the closing of all 800 Toys“R”Us stores in the US.

Non-Store-Closure News

Casey’s General Stores Names H. Lynn Horak as New Chairman Casey’s General Stores has appointed H. Lynn Horak, who has been an Independent Director since 2009, as its new Chairman of the Board. Horak is the retired Regional Chairman of Wells Fargo Regional Banking. He held many positions with Wells Fargo Bank beginning in 1972, including Executive Vice President and CFO from 1981 to 1986, President and COO from 1986 to 1991, and CEO and Chairman of the Board of Regional Banking for Iowa, Nebraska and Illinois from 1991 to November 2007.

Source: Company reports/Coresight Research

Source: Company reports/Coresight Research

2017 Major US Store Openings and Closures

Source: Company reports/Coresight Research

Source: Company reports/Coresight Research

2018 Major UK Store Openings and Closures

Year to date in the UK, there have been 216 store closure announcements and 491 store opening announcements. New Look Plans to Close 60 Stores in the UK New Look announced plans to close 60 of its 593 stores in the UK, along with a further six sites that are sublet to third parties. The fashion retailer has instigated a company voluntary arrangement, a form of insolvency aimed at protecting a business from going bust entirely, and is seeking approval from its lenders for a restructuring plan. French Connection Announces Plans to Close Six Stores in 2018 French Connection targets to reduce its store portfolio to around 30 full-price French Connection stores by the end of the new financial year. In its earnings result announcement, the retailer revealed plans to close five stores later in the year, in addition to one that is closed already. Toys“R”Us to Close All 100 Stores in the UK Toys“R”Us announced that it plans to wind down all 100 of its stores in the UK over the next six weeks, including 25 that have already been closed or about to be closed, although it did not rule out the possibility of bid interest for some of the sites. “This process has attracted some interest, but ultimately no party has been able to move forward with a formal bid prior to the expiration of the stated deadline,” said Simon Thomas, joint administrator and a partner at Moorfields, the corporate advisory and restructuring firm

Source: Company reports/Coresight Research

Source: Company reports/Coresight Research

2017 Major UK Store Openings and Closures

Source: Company reports/Coresight Research

Source: Company reports/Coresight Research