FGRT 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 1,582 and the number of store openings is 1,278.

What Is Happening this Week in the US?

Cosmetics Retailer Kiko USA Files for Bankruptcy Kiko USA, the US subsidiary of Italian cosmetics retailer Kiko, filed for Chapter 11 bankruptcy. As part of its plans to restructure, the retailer wants to close 24 of its 29 domestic locations. Kiko USA CEO Frank Furlan said that the company has been struggling with declining mall traffic and the shift from brick-and-mortar shopping to e-commerce. Women’s Fashion Retailer A’gaci Files for Bankruptcy Women’s apparel retailer A’gaci filed for Chapter 11 bankruptcy. Company management said that rapid expansion into new markets has spread the organization too thin to respond effectively to the rapidly changing trends in the retail market. A’gaci plans to close 49 out of a total of 76 stores.

Non-Store-Closure News

Bon-Ton Enters Into Forbearance Agreements Bon-Ton Stores announced that it has entered into forbearance agreements with its bondholders, which means the bondholders have agreed not to exercise their rights against the retailer after the grace period ended on a $14 million interest payment due on December 15, 2017. The forbearance agreements will expire on January 26, 2018, unless further extended by the parties. [caption id="attachment_83956" align="aligncenter" width="720"] FGRT 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/FGRT[/caption]   [caption id="attachment_83958" align="aligncenter" width="720"] FGRT 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.
Source: Company reports/FGRT[/caption]   2017 Major US Store Openings and Closures [caption id="attachment_83959" align="aligncenter" width="720"] FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/FGRT[/caption]   [caption id="attachment_83960" align="aligncenter" width="720"] FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/FGRT[/caption]   2018 Major UK Store Openings and Closures Year to date in the UK, there have been 48 store closure announcements and 455 store opening announcements. Greggs Plans to Open Net Stores of 110–130 This Year Greggs plans to increase the rate of store openings, with the number of net additions expected to be in the 110–130 range. Last year, the retailer opened 131 new shops and closed 41, growing its portfolio to 1,854 stores trading as at December 30, 2017.     [caption id="attachment_83962" align="aligncenter" width="720"] FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/FGRT[/caption]   [caption id="attachment_83963" align="aligncenter" width="720"] FGRT 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/FGRT[/caption]   2017 Major UK Store Openings and Closures [caption id="attachment_83964" align="aligncenter" width="720"] FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/FGRT[/caption]   [caption id="attachment_83965" align="aligncenter" width="720"] FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/FGRT[/caption]