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 1,776 and the number of store openings is 1,510.

What Is Happening this Week in the US?

Bon-Ton Stores Files Voluntary Chapter 11 Petitions to Implement Financial Restructuring Bon-Ton Stores filed for Chapter 11 bankruptcy to explore potential strategic alternatives to maximize value for the benefit of its stakeholders, which may include a sale of the company or certain assets as part of the reorganization plan. The company plans to close 47 stores in 2018, four of which were closed in January, one store that is near completion and 42 at which store closing sales began on February 1, 2018 and will run for approximately 10 to 12 weeks. Nordstrom Shutters Oregon Store Amid Talks to Go Private Nordstrom plans to close a full-line store at Salem Center in Salem, Oregon, which has been open for nearly 40 years. The planned date for its closure is April 6. Nordstrom stores President Jamie Nordstrom noted that the company is looking for opportunities to grow its business and ensure that it meets the needs of its customers, and that physical stores will continue to be an essential part of the company’s ability to serve customers. It was announced in June that the company may consider going private for restructuring.

Non-Store-Closure News

Stein Mart Assembles Team to Improve Performance and Explore Strategic Alternatives Stein Mart has assembled a team to explore opportunities to improve operating performance and identify potential strategic alternatives. “Given the continuing challenges of the retail environment, it is prudent for us to review our strategic options while focusing on ways to improve our business,” said Hunt Hawkins, CEO. The company had previously engaged Alvarez & Marsal to review its operations for performance enhancements. Stein Mart has not set a timetable for completion of this process. Big Lots Names Stephen M. Haffer as Chief Customer Officer Big Lots announced the appointment of Stephen M. Haffer as Senior Vice President, Chief Customer Officer. Haffer will be a member of the company’s Executive Leadership Team, with primary responsibility for customer engagement and messaging touchpoints, including marketing, advertising, brand development and e-commerce. Lululemon CEO Resigns over Misconduct Laurent Potdevin has resigned as CEO of Lululemon and as a member of the company’s board, effective immediately. “Lululemon expects all employees to exemplify the highest levels of integrity and respect for one another, and Mr. Potdevin fell short of these standards of conduct,” the company said, adding that a search for a new CEO has begun. In the interim, three senior executives will take on additional responsibilities. Celeste Burgoyne, EVP of American operations, will oversee channel and brand-facing aspects of the global business. Stuart Haselden, Chief Operating Officer, will oversee operational matters related to finance, supply chain, people and technology. Sun Choe, SVP of Merchandising, will head product development, design, innovation and merchandising. Williams-Sonoma Taps New CTO Williams-Sonoma announced the appointment of Yasir Anwar as Chief Technology Officer, reporting to President and CEO Laura Alber. Anwar will lead all technology aspects of the company’s digital experience, retail stores and supply chain, and will oversee the company’s Outward subsidiary. Hudson's Bay Names CVS Health’s Helena Foulkes as New CEO Hudson’s Bay announced that Helena Foulkes has been appointed CEO, effective February 19. She will also be appointed to the company’s board. Richard Baker, who has been interim CEO, will continue as Governor and Executive Chairman. Foulkes arrives from CVS Health, where she has served as EVP of CVS Health and President of CVS Pharmacy. Christopher & Banks Taps Dick’s Sporting Goods Executive as CEO Christopher & Banks announced the appointment of Keri Jones as CEO and a member of the board, replacing interim CEO and President Joel Waller, effective March 12. Jones has more than 30 years of retail experience. She served most recently as Chief Merchant at Dick’s Sporting Goods. [caption id="attachment_84336" 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_84337" 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. In June 2017, Aldi announced it was aiming for 900 store openings by end-2022.
Source: Company reports/FGRT[/caption]   2017 Major US Store Openings and Closures [caption id="attachment_84338" 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_84339" 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 76 store closure announcements and 491 store opening announcements. [caption id="attachment_84340" align="aligncenter" width="720"] FGRT 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/FGRT[/caption]   [caption id="attachment_84341" 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_84342" 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_84343" 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]