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 2,050 and the number of store openings is 1,548.

What Is Happening this Week in the US?

Charlotte Olympia Files for Bankruptcy in the US, Closing All Its Stores

Charlotte Olympia, the playful shoe and accessories brand, has filed for bankruptcy in the US, citing the “unprecedented disruption in the retail market.” The brand will no longer have a physical store presence in the US, as it plans to shutter its four retail stores in New York, California and Nevada.

Best Buy Closing 250 Small-Format Mobile-Phone Stores

Best Buy plans to close all of its 250 small-format mobile-phone stores in the US by the end of May, as the stores have become less profitable for the electronics chain. Best Buy CEO Hubert Joly notified employees of the closings, saying it is part of a strategy of “continuous optimization.”

Vitamin Shoppe Announces Plan to Close 10 Stores and Open Two Stores

Vitamin Shoppe plans to close approximately 10 stores and open two stores during the year. The company reduced the number of new store openings in 2018 and increased its pace in digital investments to counteract the fast-changing retail landscape.

Non-Store-Closure News

99 Cents Only Names New CEO

Dollar store retailer 99 Cents Only has named Jack Sinclair, the company’s chief merchandising and marketing officer, as its new CEO, replacing Geoffrey Covert, who is retiring. Sinclair joined 99 Cents Only in 2015 and previously headed Walmart’s US grocery business. As part of the executive shuffle, Jason Kidd, Senior Vice President of Store Operations, has been appointed as COO.

Nordstrom Family Reportedly Close to Go-Private Offer

The Nordstrom family is close to making an offer to privatize the eponymously named department store chain. The family group looking to buy out Nordstrom’s shareholders has met with investment banks in recent weeks and “is hoping to submit an offer as early as next month once the banks get approval from their credit committees to provide the financing.”  

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. VeraBradley will close 50 stores by 2021. Source: Company reports/Coresight Research

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 openednet 26 storesfor 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

2017 Major US Store Openings and Closures

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Source: Company reports/Coresight Research

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Source: Company reports/Coresight Research

2018 Major UK Store Openings and Closures

Year to date in the UK, there have been76 store closure announcements and 491 store opening announcements. Toys“R”Us UK and Maplin entered administration (bankruptcy) this week, but store closures at these chains are not yet confirmed. Toys“R”Us has 105 UK stores and Maplin has around 200 stores. Toys“R”Us had previously announced 26 closures, which we include below.

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

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

2017 Major UK Store Openings and Closures

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Source: Company reports/Coresight Research

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Source: Company reports/Coresight Research