Coresight Research 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 1,790 and the number of store openings is 1,510.

What Is Happening this Week in the US?

Land of Nod to Close All of Its Stores The Land of Nod, a division of Crate & Barrel, is closing all of its existing stores, although the brand’s website will remain operational. There will be six store closures in total: Three Chicago-area stores—including the original store at North and Clybourn avenues in Lincoln Park, one at Oakbrook Center and an outlet store in Naperville—as well as stores in Seattle, Washington and Natick, Massachusetts. A store in Costa Mesa, California remains open, but will close by the end of May. Consumers will be able to purchase Land of Nod merchandise at 15 Crate & Barrel stores around the country or on the retailer’s e-commerce website. JCPenney to Close Eight Stores and a Massive Distribution Center JCPenney will close its Milwaukee distribution center in July, due to recent store closures. The customer care center is expected to close next September. While no other facility closures are planned, the retailer also plans to shutter eight stores. Mattress Firm Could be Closing 600 Stores, According to Analysts at Wedbush Considering the accounting irregularities at Steinhoff and the operational troubles at subsidiary Mattress Firm, there is a high probability that Mattress Firm will close significantly more than the 200 stores announced in December. “Our base case is now 600 store closures in 2018, with potential for as many as 1,000 closures out of the 3,400 store base,” analysts at Wedbush wrote in a note to investors on Wednesday.

Non-Store-Closure News

Karen Katz Officially Retires as Neiman Marcus CEO Karen Katz, President and CEO of Neiman Marcus since 2010, officially stepped aside on February 12. Luxury fashion and retail veteran Geoffroy van Raemdonck will fill the role. Katz started at the Dallas-based retailer in 1985, moving up the ranks through various executive positions, including EVP of Store Operations, President of catalog division Neiman Marcus Direct and President of NM stores, before taking over as CEO. Her successor van Raemdonck will be taking over during challenging times. David’s Bridal Debt Downgraded Further into Junk Territory over Potential Default Moody’s downgraded the debt of wedding apparel retailer David’s Bridal further into junk territory, to Caa3. It also revised its outlook to negative based on the increased likelihood of a distressed exchange or other balance sheet restructuring over the next 12 to 18 months, given the company’s lack of meaningful improvement in operating performance in 2017, high leverage and 2019 maturities. We could see possible store closures due to the retailer’s restructuring. [caption id="attachment_84714" align="aligncenter" width="720"] 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[/caption]   [caption id="attachment_84715" align="aligncenter" width="720"] 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 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/Coresight Research[/caption]   2017 Major US Store Openings and Closures [caption id="attachment_84713" align="aligncenter" width="720"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_84718" align="aligncenter" width="720"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research[/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_84720" align="aligncenter" width="720"] 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[/caption]   [caption id="attachment_84721" align="aligncenter" width="720"] 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[/caption]   2017 Major UK Store Openings and Closures [caption id="attachment_84722" align="aligncenter" width="720"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_84723" align="aligncenter" width="769"] Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research[/caption]