Coresight Research tracks 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 3,335 and the number of store openings is 1,699.

What Is Happening this Week in the US?

Nine West Declares Bankruptcy, Vacates 71 Stores Women’s shoes and accessories retailer Nine West has filed for bankruptcy protection amid a tough retail environment. Interim CEO Ralph Schipani said in the filing that the company has sold or removed “substantially all” inventory and vacated 71 of its remaining 72 stores. On the bright side, the company said that it has a $200 million stalking horse bid from Authentic Brands Group for its intellectual property tied to its namesake Nine West and Bandolino brands, and that it has received $300 million in bankruptcy financing and has entered into a restructuring agreement with creditors controlling most of its secured and unsecured debt. Adidas to Close Stores in Online Push Adidas CEO Kasper Rorsted announced that the sportswear retailer plans to close down stores in the coming years as part of a shift toward online retailing. “Over time, we will have fewer stores but they will be better,” said Rorsted, adding that over the coming year, the number of Adidas stores was expected to contract slightly. Adidas wants to more than double its e-commerce sales to €4 billion ($4.9 billion) by 2020 from last year’s €1.6 billion ($1.9 billion). The retailer has 2,500 stores globally and 13,000 additional mono-branded franchise stores.

Non-Store-Closure News

Two US Mall Owners Set to Save Bon-Ton from Closing All of its Stores US mall owners Washington Prime Group and Namdar Realty Group will reportedly bid together to save department store chain Bon-Ton from liquidation. Bon-Ton, which operates other mall-based chains including Carson’s, Younkers and Herberger’s, is a tenant of both Washington Prime and Namdar. “With the help of our advisors, we will evaluate all qualified bids and are committed to maximizing value and pursuing the best path forward for the company and our stakeholders,” said Bon-Ton CEO Bill Tracy. [caption id="attachment_83110" align="aligncenter" width="700"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. The Children’s Place will close 300 stores by 2020. Ascena will close between 268 and 667 stores by July 2019, depending on negotiations with landlords. Gap will close 200 stores by 2020. Vera Bradley will close 50 stores by 2021.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_83111" align="aligncenter" width="700"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Mackage plans to operate 25 stores across North America in the next five years. Gap will open 270 stores by 2020. Costco has opened net 26 stores for the fiscal year ended September 2017, and plans to open net 25 stores for fiscal year 2018. In June 2017, Aldi announced it was aiming for 900 store openings by end-2022.
Source: Company reports/Coresight Research[/caption]   Year-to-Date 2018 Major US Store Bankruptcies [caption id="attachment_83112" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   2017 Major US Store Openings and Closures [caption id="attachment_83113" align="aligncenter" width="700"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_83114" align="aligncenter" width="700"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research[/caption]   2017 Major US Store Bankruptcies [caption id="attachment_83115" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   2018 Major UK Store Openings and Closures Year to date in the UK, there have been 221 store closure announcements and 491 store opening announcements. [caption id="attachment_83116" align="aligncenter" width="700"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Monsoon Accessorize announced in 2016 that it will close 141 stores as leases expire over the next five years.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_83117" align="aligncenter" width="700"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Aldi will complete a 300-store expansion by 2022. Smiggle will open 200 stores by 2019. Pets at Home will open five stores in fiscal 2017 and 10 stores in fiscal 2018. M&Co will open 60–75 stores by 2022. Footasylum plans to open 8–10 new stores a year. Lidl opens 50–60 stores per year. Greggs plans to open net 110–130 stores this year.
Source: Company reports/Coresight Research[/caption]   2017 Major UK Store Openings and Closures [caption id="attachment_83118" align="aligncenter" width="700"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_83119" align="aligncenter" width="700"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.Source: Company reports/Coresight Research[/caption]