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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 4,134 and the number of store openings is 1,885.What Is Happening this Week in the US?
Sears to Close Another Five Stores Sears announced another five store closures. These latest closures form part of the 72 closures the company announced at the end of May, before the figure was revised down to 63 closures, and the company said that the future of nine of the stores was under further review. Lands’ End to Exit Further Sears Stores and Open More Standalone Stores This year, Lands’ End plans to exit dozens of department stores operated by its former parent company Sears. It will end the current year with a presence in approximately 100 Sears stores, compared to 174 at the end of fiscal year 2017. Lands’ End is investing in new, standalone stores with a smaller format. It plans to open a further 3–4 such stores this year and add 40–60 stores over the next five years. The company opened two standalone stores in the first quarter of this fiscal year. We do not count the exit from Sears in our closures graph below, as they do not involve a physical store closure. Kroger Exits Raleigh-Durham Market This week, Kroger announced that it would close all of its 14 stores in the Raleigh-Durham, NC market. The company cited “a changing retail environment” and “overstoring” as the reasons for its exit. The stores are scheduled to close on or around August 14. However, sister chain Harris Teeter will open in eight of the 14 stores. Ahold Delhaize banner Food Lion and Crunch Fitness will take one store each. Discussions are in progress as to what to do with the remaining stores. Our assumed closure total attributed to Kroger is therefore six stores.Non-Store-Closure News
Macy’s Takes Stake in Tech Retailer B8ta Macy’s announced this week that it has acquired a minority stake in tech retailer B8ta and will partner with the company to expand the department store’s pop-up concept, The Market @ Macy’s. B8ta operates stores offering shoppers the opportunity to discover, trial and buy tech products. Hal Lawton, President of Macy’s, said “Macy’s is in the experience business. We’re always looking for new formats that allow our customers to discover and connect with our products and services in-store in a way that drives engagement with our brand.”
Coresight Research has calendarized store openings/closures to attribute them to the year in which they fell or are expected to fall. This involves an estimation for some retailers. These include: Ascena, Gap, Lord & Taylor, The Children’s Place and Vera Bradley.
Source: Company reports/Coresight Research
Coresight Research has calendarized store openings/closures to attribute them to the year in which they fell or are expected to fall. This involves an estimation for some retailers. These include: Aldi, Costco, Gap, Lidl, Mackage. 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 store openings/closures to attribute them to the year in which they fell or are expected to fall. This involves an estimation for some retailers. Source: Company reports/Coresight Research
Coresight Research has calendarized store openings/closures to attribute them to the year in which they fell or are expected to fall. This 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 895 store closure announcements and 620 store opening announcements.What Is Happening this Week in the UK?
Poundworld Enters Administration Poundworld entered administration (bankruptcy) this week, threatening the future of its 335 stores. N Brown Closing 20 Stores This week, apparel retailer N Brown announced that it plans to shut 20 stores, due to weak footfall and their small contribution to group revenues. N Brown was traditionally a catalog retailer and most of its sales are now generated online. House of Fraser Faces Challenge Over Plan to Close Stores Landlords are considering whether to take legal action against House of Fraser over its plans to close 31 of its 59 stores through a company voluntary arrangement (CVA), according to The Sunday Times. The newspaper reported that around a dozen landlords are in talks with law firm Bryan Cave Leighton Paisner about an attempt to block the CVA. At least 75% of creditors need to approve the CVA for it to proceed. The vote will take place on June 22.
Coresight Research has calendarized store openings/closures to attribute them to the year in which they fell or are expected to fall. This involves an estimation for some retailers. These include: Argos, B&M, M&S, Monsoon Accessorize, Sainsbury’s and Tesco. Source: Company reports/Coresight Research
Coresight Research has calendarized store openings/closures to attribute them to the year in which they fell or are expected to fall. This involves an estimation for some retailers. These include: Aldi, B&M, Foot Asylum, Greggs, Hema, Heron Foods, House, Lidl, M&Co, M&S, Pets at Home and Smiggle. Source: Company reports/Coresight Research
2017 Major UK Store Openings and Closures
*Total includes a small number of retailers that each announced one store opening and are not charted.
Coresight Research has calendarized store openings/closures to attribute them to the year in which they fell or are expected to fall. This involves an estimation for some retailers.
Source: Company reports/Coresight Research