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?

Liquidators Awaiting Final Approval to Begin Winding Down All Bon-Ton Stores

Bon-Ton Stores, a bankrupt chain of 200 regional department stores, will begin liquidation sales at all locations, as only liquidators took part in its court-supervised auction. Bon-Ton had been working with US mall owners Namdar Realty Group and Washington Prime Group to secure a bid that would have kept open a large portion of Bon-Ton locations, yet the auction started without the landlord groups. The liquidators are awaiting final approval before they begin selling inventory, leases and fixtures. It is still possible, however, that some of the stores could be acquired by another retail operator and reopen under the name of one of the Bon-Ton stores.

Non-Store-Closure News

CVS Names Kevin Hourican as President of CVS Pharmacy

CVS Health announced the appointment of Kevin Hourican to replace Helena Foulkes as President of its retail business CVS Pharmacy. Hourican has worked at CVS since 2012, most recently as Executive Vice President of Retail Pharmacy. Before joining CVS, he served in executive leadership roles at Macy’s and Sears Roebuck, where he gained significant experience in omnichannel operations and store-front merchandising.

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

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

Year-to-Date 2018 Major US Store Bankruptcies

Source: Company reports/Coresight Research  

2017 Major US Store Openings and Closures

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Source: Company reports/Coresight Research

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Source: Company reports/Coresight Research

2017 Major US Store Bankruptcies

Source: Company reports/Coresight Research  

2018 Major UK Store Openings and Closures

Year to date in the UK, there have been 313 store closure announcements and 491 store opening announcements.

Carpetright to Close 92 Stores as Part of Restructuring

British floor coverings retailer Carpetright has struck an emergency agreement with its lenders to close or exit the leases of at least 92 of its stores under a company voluntary arrangement (CVA), which is a type of restructuring plan designed to keep businesses out of formal insolvency proceedings. “The CVA proposal will enable the group to undertake a fundamental restructuring of its property portfolio that the board believes must be carried out as part of implementing the group’s revised business plan,” said Carpetright.

Toys“R”Us to Close All Remaining UK Stores by the End of April

Administrators from insolvency specialist Moorfields Advisory said that as part of the plan to close all 100 stores, the remaining 75 Toys“R”Us and Babies“R”Us stores in the UK would close between April 18 and April 24. “The stores across the county will be open as usual until the last day of trading,” said joint administrator Simon Thomas. “Extended discounts of up to 70% are in place from today.”

Mothercare Eyes Closure of a Third of its Stores

Mothercare is reportedly considering entering a CVA as it looks to reduce costs by shutting a third of its 143 stores and lowering rents for others.

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

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

2017 Major UK Store Openings and Closures

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Source: Company reports/Coresight Research

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Source: Company reports/Coresight Research