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 4,123and the number of store openings is 1,884.

What Is Happening this Week in the US?

Shoe Carnival to Close 20–25 Stores in 2018

Family footwear retailer Shoe Carnival announced it would close 20–25 stores and open three stores in 2018, despite an increase in profits. The retailer did not specify which stores would be closed. Last year, the company closed 26 stores and opened 19 new stores.

Hudson’s Bay Co. to Close 10 Lord & Taylor Stores by the End of 2019

Canadian retail group Hudson’s Bay Co. (HBC) plans to close up to 10 Lord & Taylor stores through 2019, including the iconic flagship on Fifth Avenue in Manhattan. When the retailer agreed to sell the building on Fifth Avenue to shared-work space company WeWork for US$850 million in October 2017, it had planned to keep a Lord & Taylor presence in the building. Management noted that it is increasing its focus on Lord & Taylor’s digital business as it optimizes and decreases the banner’s brick-and-mortar footprint. Coresight Research estimates three stores will be closed in 2018 and seven in 2019.

Non-Store-Closure News

Walmart to Divest Its Brazil Operations

Walmart announced it would sell an 80% stake in its Brazil operation to private-equity firm Advent International. The transaction is expected to close later this year, subject to regulatory approval in Brazil. Last year, Walmart was reportedly mulling whether to ramp up its operations in Brazil to invigorate sales with a $320 million investment over three years.

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 openednet 26 storesfor 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 been850store closure announcements and 616 store opening announcements.

Maplin to Shutter the Last of its 219 Stores by July

In the UK, bankrupt electronics retailer Maplin has not officially announced the closure of all of its stores, but according to sources familiar with the situation, the company will shutter the last of its 219 stores by July. Meanwhile, Buy It Direct, which operates online brands including Laptops Direct, Direct TVs, Appliances Direct and Furniture 123 made a bid to buy the collapsed retailer. Seeing value in the brand, Nick Glynne, Managing Director of Buy It Direct, said the company plans to set up a new Maplin-branded website to sell products “in the gap between PC World and Amazon to sell these products in a jargon-free way.” As we go to press, House of Fraser has confirmed plans for a Company Voluntary Arrangement that would see it close 31 of its 59 UK stores by early 2019. House of Fraser will seek approval from its creditors for the plan on June 22.

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