Coresight Research tracks news about store closures, openings and bankruptcies. Our Weekly US and UK 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, US retailers have announced they will close 5,994 stores and open 2,641. Our year-to-date closures total this week exceeded our total for full-year 2018 closures: We recorded 5,864 closures and 3,239 openings for the full year 2018. Our data represent closures and openings by calendar year.

What Is Happening This Week in the US

Fred’s to Shut 159 Stores Pharmacy retailer store Fred’s plans to shut 159 stores by the end of May, with liquidation sales commencing on April 11. Fred’s has partnered with asset disposition service and advisory providers Malfitano Advisors and SB360 Capital Partners to manage its closures. The company will be left with 398 stores. Fred’s CEO Joseph Anto said, “After a careful review, we have made the decision to rationalize our footprint by closing underperforming stores, with a particular focus on locations with shorter duration leases.” The stores earmarked for closure have near-term lease expirations and limited remaining lease obligations. Canada Goose to Open its Fifth Store in the US Luxury apparel brand Canada Goose has announced plans to open its fifth US store in the fall/winter of 2019. The store will be located in the Mall of America in Minnesota. The new store will also feature a “cold room,” in which shoppers will be able to try on clothes at different temperatures. President and CEO of Canada Goose Dani Reiss said, “Success in retail is about more than just selling things—it’s about helping people find the perfect product, while delivering exceptional service and creating a memorable experience.” Coresight Research Insight: Canada Goose is building a truly global new luxury brand with store openings in global fashion cities around the world, including Paris and Milan, as well as Mall of America (one of the top tourist destinations in the US). Exceptional instore service and memorable experiences (such as the cold room) are pivotal to creating great brands and great retail, as the Coresight BEST Framework for brick-and-mortar stores articulates, where B is brand building; E is experiences that deepen engagement and drive traffic; S is differentiating through service offerings; and T is technology integration to enhance service. Sears to Open Three New Format Stores Department store retailer Sears has announced it will open three Sears Home & Life stores in May. The stores will be smaller than its usual, at only 10,000–15,000 square feet. The stores will open in the following locations: Anchorage in Alaska, in Louisiana and Overland Park in Kansas. The new stores will offer products across categories that include major appliances, small kitchen appliances, floor care and home environment products in addition to connected home products. Levi’s to Open 100 Stores in its Fiscal Year 2019 Apparel retailer Levi’s announced it plans to open 100 stores in its fiscal year 2019 that ends in November. The company opened 16 stores in the first quarter ended February 24, 2019, part of 100 openings previously planned. The openings are not included in the chart below as Levi’s did not provide information about store locations. Coresight Research Insight: In tandem with its 1Q19 financial results, during which sales rose 11% on a constant-currency basis to $1.4 billion and adjusted EBIT increased 21% to $206 million, Levi’s signaled its direct-to-consumer strategy with the above announcement. As of November 2018, Levi’s had 824 company-operated stores in 32 countries: 268 in the Americas, 300 in Europe and 256 in Asia. Samuels Jewelers to Liquidate, Will Close 122 Stores Samuels Jewelers, which filed for bankruptcy in August 2018, will liquidate and close its 122 retail locations and website. The company filed for bankruptcy with the objective of continuing its retail operations by reducing excess inventory and selling its assets. With no bidder, the immediate closure of Samuels Jewelers was in its best interest, according to court documents, as many of its stores subject to inventory liquidation sales underperformed in comparison to expectations. Coresight Research Insight: These closures are a function of internal issues at Samuels Jewelers and its parent; however, following Signet Jewelers’ announcement last week that it plans to close around 150 stores, it also further illustrates that US retail is over-stored. LK Bennett’s US Arm Files for Bankruptcy Upmarket fashion retailer LK Bennett has filed for Chapter 11 bankruptcy in the US. The retailer fell into administration in the UK in March 2019. The company registered liabilities of $32.5 million when it filed for bankruptcy in the US. LK Bennett’s 10 US stores and online operations are expected to close if it does not find a new buyer. Duluth Trading Announces Plans to Open 15 Stores Apparel and accessories retailer Duluth Trading has announced it plans to open 15 stores in its current fiscal year ending February 2020. The new openings will strengthen the company’s omnichannel footprint, according to management, in addition to increasing customer engagement across retail channels. The company operated 46 stores as of February 3, 2019. [caption id="attachment_83621" align="alignnone" width="720"] 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 Abercrombie & Fitch, Chico’s, Hibbett Sports, Signet Jewelers and Walgreens.
Source: Company reports/Coresight Research [/caption]   [caption id="attachment_83622" align="alignnone" width="720"] 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 Five Below, Family Dollar, Dollar Tree and Costco.
Source: Company reports/Coresight Research [/caption]   2019 Major US Uncharted Openings and Closures The table below shows announced openings and closures that we have not allocated to our current-year totals, due to a lack of detail on timing or location. [caption id="attachment_83624" align="alignnone" width="720"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_83625" align="alignnone" width="720"] *Total includes a small number of retailers that each announced between one and five store closures and are not included in the chart above.
**Foot Locker includes the Foot Locker, Lady Foot Locker, Champs Sports, Foot Action and SIX:O2 banners.
***Urban Outfitters includes the Urban Outfitters, Free People and Anthropologie banners
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_83626" align="alignnone" width="720"] *Total includes a small number of retailers that each announced one or two store openings and are not included in the chart above
**Urban Outfitters includes the Urban Outfitters, Free People and Anthropologie banners
***Foot Locker includes Foot Locker, Lady Foot Locker, Champs Sports, Foot Action and SIX:O2 banners.
Source: Company reports/Coresight Research[/caption]   2019 Major US Retail Bankruptcies [caption id="attachment_83627" align="alignnone" width="720"] Source: Company reports/Coresight Research[/caption]   2018 Major US Retail Bankruptcies [caption id="attachment_83628" align="alignnone" width="720"] *A’gaci emerged from bankruptcy in August 2018
**Mattress Firm emerged from Bankruptcy in November 2018
***Sears Holdings emerged from bankruptcy in January 2019
Source: Company reports/Coresight Research [/caption]  

The UK

2019 Major UK Store Closures and Openings Year to date in the UK, major retailers have announced 322 store closures and 351 store openings. Our data represent closures and openings by calendar year.

What Is Happening This Week in the UK

Debenhams Enters Administration Department store chain Debenhams has fallen into pre-pack administration with lenders taking control of the embattled retailer. This eliminates the stake of Mike Ashley’s Sports Direct in the retailer after Debenham’s rejected his cash injection offer of £200 million ($264 million). Under the pre-pack administration deal, 165 Debenhams stores will continue to operate while the retailer’s new owners’ cost-cutting plans are underway. Debenhams will continue with its store optimization plan of closing 50 stores over next 3–5 years. We have our closure figures for Debenhams. Mothercare Enacts Previously Announced Closures Specialist retailer Mothercare has closed 36 stores so far in 2019 to conclude its store closure program. Currently, the company operates 77 stores after shutting 60 stores since April 2018. Mothercare CEO Mark Jones said, “We have continued to make significant progress in our final quarter as we continue our strategic transformation to deliver a sustainable and profitable future for Mothercare.” [caption id="attachment_83629" align="alignnone" width="720"] 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_83630" align="alignnone" width="720"] Source: Company reports/Coresight Research [/caption]   2019 Major UK Uncharted Openings/Closures [caption id="attachment_83631" align="alignnone" width="720"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_83632" align="alignnone" width="720"] Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur, and 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_83633" align="alignnone" width="720"] Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur, and 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 occurred, or are expected to occur, 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 announce details. Figures for openings and closures are gross.