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 stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture.

The US

2019 Major US Store Closures and Openings Year to date in 2019, U.S. retailers have announced they will close 1,725 stores and open 1,379 stores. Our data represent closures and openings by calendar year, so these totals include announcements made in 2018 of closures and openings expected to fall in 2019. 

What Is Happening This Week in the US?

Gymboree Files for Chapter 11 Bankruptcy Protection, Plans to Close 800 Stores Children’s apparel retailer Gymboree filed for Chapter 11 bankruptcy protection, the second time in almost two years, and said it will close more than 800 Gymboree and Crazy 8 stores. The San Francisco-based company said it will sell its high-end Janie and Jack line, as well as its intellectual property and online platform. The company’s business in Canada, Gymboree Inc., will also seek bankruptcy protection. Chico’s Plans to Shut 250 Stores Across Three Years Women’s clothing retailer Chico’s has announced that it will close 250 stores over a three-year period as part of its strategic endeavor to improve its digital channel and enhance its omnichannel capabilities. The company has stated it is looking to streamline operations to cut costs and improve efficiency. The company plans to close more stores in 2020 and 2021 than in 2019. We attribute the closures for the three years equally in the total and make adjustments as the company confirms details.  Shopko Files for Bankruptcy and Set to Close 38 More Stores General merchandise store chain Shopko has filed for Chapter 11 bankruptcy protection with the company attributing it to “excess debt and ongoing competitive pressures.” The retailer stated in a press release on January 16 that it will close an additional 38 stores this year, in addition to the 67 previously earmarked for closure. The company will also relocate 20 optical centers to freestanding locations and auction off its pharmacy business. J.Crew Set to Shut at least Five Stores Multi-brand specialty retailer J.Crew will reportedly shut at least five US stores by the end of January in line with planned closures announced last year. The closures that are due to conclude this month include stores in Georgia, South Carolina, California, Tennessee and Louisiana. Macy’s to Shutter Eight Stores American department store chain Macy’s announced it will close eight stores by early 2019 in line with planned closures announced two years ago. The retailer has been shuttering stores as leases expire after announcing in August 2016 it would close 100 stores.  Indochino Plans to Open 20 Stores in North America Custom apparel retailer Indochino has announced it will open up to 20 stores this year in North America. The retailer is focusing its 2019 growth plans on the east and west coasts of the U.S. with six stores already confirmed for the east coast while five have been confirmed for the west coast.  Kohl’s to Close Four Stores and Open Four Small-Format Stores Department store chain Kohl’s is set to close four underperforming stores this year owing to “a variety of reasons including real estate and other operational costs.” The retailer also announced it will open four small-format stores this year, but has not given details on locations and timings.  Calvin Klein to Close Madison Avenue Store Fashion brand Calvin Klein has announced it will shut its Madison Avenue boutique store in New York City in spring 2019 and is said to be “evaluating options for future retail locations.” The development is part of the retailer’s plan to restructure its brand and follows the resignation of Raf Simons from the post of Chief Creative Officer in December 2018. 

Non-Store-Closure News

Payless Reportedly Evaluating Strategic Options and May Close Stores According to Reuters, discount footwear retailer Payless has hired investment bank PJ Solomon as an advisor to assess strategic alternatives, including sale or restructuring, as it seeks to avoid a second bankruptcy after having emerged from a previous bankruptcy less than eighteen months ago. The retailer may close up to a third of its approximately 3,000 stores and may even consider filing for bankruptcy, according to sources familiar with the matter.  Stage Stores Set to Convert 220 Department Stores to Gordmans Stores by Mid-2020 Department store retailer Stage Stores has announced it will convert around 220 department stores to Gordmans off-price stores by the middle of 2020. Of the planned conversions, 70 are planned for 2019, mostly in smaller midwestern markets. [caption id="attachment_65207" align="aligncenter" width="786"] Source: Company reports/Coresight Research[/caption] [caption id="attachment_65208" align="aligncenter" width="784"] *Total includes retailers that have announced multi-year store opening plans which have been recorded based on an estimate for each year. This includes Aldi which announced a five-year plan for store openings until 2022.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_65209" align="aligncenter" width="792"] *Total includes a small number of retailers that each announced between one and five store closures and are not included in the chart above.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_65210" align="aligncenter" width="790"] *Total includes a small number of retailers that each announced one or two store openings and are not included in the chart above.
Source: Company reports/Coresight Research[/caption]

2018 Major US Store Bankruptcies

[caption id="attachment_65211" align="aligncenter" width="788"] Source: Company reports/Coresight Research[/caption]

The UK

2019 Major UK Store Closures and Openings Year to date in the U.K., retailers announced 220 store closures and 253 store openings. These data represent closures and openings by calendar year, so these totals include announcements made in 2018 expected to occur in 2019.

What Is Happening This Week in the UK?

Debenhams May Close 40 Additional Stores Embattled retailer Debenhams is considering closing 40 more stores, according to the Telegraph. These closures would be in addition to the “up to 50” closures announced for the next 3-5 years by the company in October 2018. We await confirmation of this development from the retailer before recording it in our closures tracker. Our 2019 closure figure for Debenhams is an estimate, assuming that it proceeds with 50 closures over five years.  Marks & Spencer Announces Next 17 Stores to Shut Marks & Spencer has announced the next batch of 17 stores it plans to close in the next few months. They include stores in Huddersfield, Hull and Luton, among others. The announcement comes as part of the retailer’s reorganization plan which will see it close over 100 stores by 2022. Apart from the latest round of announced closures, eight more have been previously earmarked for closure this year. More than 1,000 jobs are at risk in the next round of closures.  Lush to Open Concept Store in the UK British cosmetics retailer Lush has confirmed plans to open its first “naked” concept store in the U.K. following launches in Milan and Berlin last year. The new store will open in Manchester on January 18 and will offer plastic packaging-free products. 

Non-Store-Closure News

Paperchase Mulls Potential CVA  British stationery and greeting cards retailer Paperchase has solicited the services of KPMG to explore a potential Company Voluntary Arrangement (CVA) as it seeks to shut its stores in the U.K. following its struggle to attract footfall. The company currently operates around 130 stores in the U.K. but recorded a statutory pre-tax loss of £6.3 million ($7.2 million) for its fiscal year ending February 3, 2018. [caption id="attachment_65212" align="aligncenter" width="796"] Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for some retailers including Debenhams, Homebase, Laura Ashley and New Look.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_65213" align="aligncenter" width="794"] Source: Company reports/Coresight Research[/caption] [caption id="attachment_65214" align="aligncenter" width="790"] *H&M store closures include the Cheap Monday banner.
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for some retailers, including Argos, B&M, Homebase, M&S, Monsoon Accessorize, Sainsbury’s and Tesco.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_65215" align="aligncenter" width="784"] Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for some retailers, including B&M, Footasylum, Greggs, Habitat, Hema, Heron Foods, House, Lidl, M&Co, M&S, Pets at Home, Sainsbury’s and Smiggle.
Source: Company reports/Coresight Research[/caption] Notes Figures represent store openings and closures that fell, or are expected to fall, in the respective calendar years. For some retailers, store opening and closure numbers are estimated, including from part-year data, global figures or announced closure/opening programs that span multiple years. Estimates are updated as companies file details of changes in their store estates. Figures for openings and closures are gross.