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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
YTD 2018, US retailers have announced they will close 5,463 stores and open 3,060. We have expanded our coverage list to include more US retailers and updated opening and closure charts for 2017 and 2018 to reflect this.What Is Happening this Week in the US?
Dollar General to Open 975 Stores in 2019 American chain of variety stores Dollar General has announced that it plans to open 975 stores in 2019, to remodel 1,000 mature store and relocate 100 store. The retailer announced better-than-expected total sales growth of 8.7% and same-store sales growth of 2.7% in third quarter results released December 4, driven by an increase in average transaction value and positive results in the consumables, seasonal and home categories. Shopko to Close 39 Stores Wisconsin-headquartered US general merchandise chain Shopko has announced it will close 39 stores. The company said it will start liquidating these stores on December 7 and close them by the end of February. The company currently operates 363 stores in 24 states in the US Midwest, on the west coast and Pacific Northwest. Christopher & Banks to Shut 30-40 Stores American womenswear retailer Christopher & Banks has announced it plans to shut 30-40 stores over the next two and a half years starting end of 2019 when ongoing leases begin to expire. The retailer recently reported a 7.3% decline in net sales in its third quarter (ended November 3), driven by a 7.5% decline in comparable sales. Abercrombie & Fitch Reverses 20 Planned Closures US-based specialty retailer Abercrombie & Fitch announced it has reduced its planned store closures for the year by a third owing to better-than-expected sales. The company will now shut 40 stores instead of the 60 that it had planned previously. The company has attributed this decision to “improved performance and successful lease renegotiations.” Ikea to Open Store in Manhattan Swedish furniture retailer Ikea is set to open its first US “city center” store in Manhattan in spring 2019. Unlike Ikea’s typical large-format stores, the city-center store will be small in size and will act as a “planning studio,” to let shoppers choose items that they want delivered to their homes.
*Total includes a small number of retailers that each announced one store opening and are not included in the chart above. Coresight Research attributes store openings and closures to the year in which the opening or closure occurred or is expected to occur. We estimate this information for some retailers. These include: Ascena, Casey’s General Stores, Gap, H&M, Lord & Taylor, Mattress Firm, Michael Kors, The Children’s Place and Vera Bradley. Tapestry and Victoria’s Secret store numbers are for North America. Source: Company reports/Coresight Research
*Total includes a small number of retailers that each announced one store opening and are not included in the chart above. Coresight Research attributes store openings and closures based on the year in which they are expected to occur, not when they are announced. This involves an estimation for some retailers, including: Aldi, Casey’s General Stores, Casper Sleep, Gap, Lidl and Mackage. Store opening numbers for Fabletics have not been included in the calendar as the retailer did not provide a time frame. Lululemon Athetica, Tapestry and Victoria’s Secret store numbers are for North America only. Store opening count for Amazon includes both Amazon Go (6) and Amazon 4-Star (3) stores. Source: Company reports/Coresight Research
Year-to-Date 2018 Major US Store Bankruptcies
Source: Company reports/Coresight Research
*Total includes a small number of retailers that each announced one store closure and are not included in the chart above. Coresight Research attributes store openings and closures to the year in which the opening or closure occurred or is expected to occur. We estimate this information for some retailers. Source: Company reports/Coresight Research
*Total includes a small number of retailers that each announced one store closure and are not included in the chart above. Coresight Research attributes store openings and closures to the year in which the opening or closure occurred or is expected to occur. We estimate this information 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
YTD in the UK, retailers have announced 1,401 store closures and 784 store openings.What Is Happening this Week in the UK?
H&M to Close the Curtains on Cheap Monday Swedish clothing retailer H&M has announced that it will close down its Cheap Monday banner as part of the company’s strategy to concentrate on its core business. The closure of the business as a whole will be completed by June 2019, but the Cheap Monday store in London and its online shop will close by December 31, 2018. Clas Ohlson to Shut All Six Stores in UK Swedish home improvement retailer Clas Ohlson has announced that it will shut all its stores in the UK and Germany after suffering losses for years from its operations in these regions. The company currently has six stores in the UK and four in Germany. The retailer did not disclose a specific timeline for these closures, so we have not attributed these figures to 2018. Crabtree & Evelyn Opens Concept Store in London Beauty brand Crabtree & Evelyn opened a new store in Islington, London on November 30. The store is the company’s first ever concept store and will act as an immersive events hub. Apart from showcasing the company’s various skincare products and gifts, the store will also host a series of talks, masterclasses and events.Non-Store-Closure News
Wyevale Sells Two More Garden Centers British garden retailer Wyevale has announced the sale of two more of its stores as part of its restructuring strategy. The retailer’s Wellingborough centre in Northamptonshire has been sold to Higgins Landscape and Garden Centres, whereas the Wolds View store in Lincolnshire has been sold to Woodthorpe Hall Centres. House of Fraser’s Manchester Flagship to Stay Open British department store chain House of Fraser has announced that its flagship Manchester store (often called Kendal’s) has averted closure and will remain open following the agreement of terms between its owner Sports Direct and the landlord. This follows the development in October, when a Sports Direct spokesperson confirmed the store would close, although it was not one of the 31 stores earmarked for closure under its initial Company Voluntary Arrangement (CVA).
*The count for H&M store closures includes the Cheap Monday banner Coresight Research attributes store openings and closures to the year in which the opening or closure occurred or is expected to occur. We estimate this information for some retailers. These include: Argos, B&M, Homebase, M&S, Monsoon Accessorize, Sainsbury’s and Tesco. Source: Company reports/Coresight Research
Coresight Research attributes store openings and closures to the year in which the opening or closure occurred or is expected to occur. We estimate this information for some retailers. These include: Aldi, B&M, Foot Asylum, Greggs, Habitat, Hema, Heron Foods, House, Lidl, M&Co, M&S, Sainsbury’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 closure not included in the chart above. Coresight Research attributes store openings and closures to the year in which the opening or closure occurred or is expected to occur. We estimate this information for some retailers. Source: Company reports/Coresight Research