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 6,105 stores and open 2,658. Our year-to-date closures exceeded the total we recorded for the full year 2018 in week 15 of 2019. 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

Office Depot to Close 50 Stores Office-goods retailer Office Depot has announced plans to shut 50 stores in 2019. The closures are part of Office Depot’s three-year plan to shutter around 300 stores, which was announced in 2016. The retailer has listed 20 Office Depot stores and 16 Office Max stores that have already started liquidation sales. Coresight Research Insight: This ongoing store rationalization strategy reflects the over-stored retail environment in the US. This is one of several constructive steps Office Depot is taking to remain competitive in a category that has seen sales move online. In March, Office Depot and Alibaba partnered to target small and medium-size businesses using the two companies’ e-commerce platforms. Alibaba will offer Office Depot products through its website while Office Depot will gain a global network of over 150,000 suppliers to market its products to. Pier 1 Imports to Shutter At Least 45 Stores Home decor and imported furniture specialist Pier 1 Imports has announced it will shut at least 45 stores in its current fiscal year that ends in March 2020. The 45 stores will close as their leases expire. Management stated that the store closure numbers could increase to 15% of the total stores if the company does not meet its financial performance goals and sales targets, meaning that up to 145 stores might be closed. The company operated 973 stores at the end of its fiscal year 2019 ended March 2. We have calendarized our charted figure for Pier 1 Imports. Coresight Research Insight: Competition in the home space, particularly from retailers such as HomeGoods, Overstock and Wayfair, has left Pier 1 vulnerable. Our channel checks reveal heavy discounting in Pier 1 stores.   Vitamin Shoppe to Shut 60–80 Stores by 2021 while Opening 10 Stores in 2019 Nutritional products specialist retailer Vitamin Shoppe has announced plans to close 60-80 stores over a period of three years. The retailer also announced it will open 10 stores in its current fiscal year that ends in December 2019. The company operated 774 stores as of December 29, 2018. We have calendarized our charted figure for Vitamin Shoppe. Coresight Research Insight: Wellness is a growing lifestyle trend, benefitting the vitamin category generally. However, we believe competition and availability/accessibility are increasing as well, while brand loyalty is diminishing.   Indochino to Open 20 Stores in 2019 Menswear designer and retailer Indochino announced that it plans to open 20 stores in North America in 2019. The retailer currently operates 32 stores in the US and 11 in Canada. Indochino has confirmed the location of 11 of the 20 stores: 10 will open in the US (in Brooklyn, New York City; Greenwich, Connecticut; Manhasset, New York; Paramus, New Jersey; Boston; Roseville, San Diego and San Jose, in California; Portland, Oregon; and, Bellevue, Washington) with one in Greater Toronto Area. Indochino designates each customer with a personal stylist who helps select fabrics and advises on style. The clothes are tailored and delivered to the customer’s door. The retailer provided no details about the location of the remaining nine stores. Coresight Research Insight: This digitally native brand is increasing its physical footprint in tandem with increased social media/consumer discovery costs on Facebook and Google. Design Within Reach to Open Two Stores in 2019 Furniture retailer Design Within Reach will open two stores in California in 2019. The stores will be located at Marin County Mart, San Francisco and upmarket shopping center Westfield UTC located in San Diego, and will span areas of 6,000 square feet and 8,000 square feet, respectively. G-III Apparel Group to Shut 43 Stores Apparel manufacturer G-III Apparel Group has announced that it plans to shut 43 stores in its current fiscal year, ending January 2020. The closures will include around 41 DKNY stores and 11 Karl Lagerfeld stores. The company operated 308 retail stores as of January 31, 2019. The planned closures will take the store count to 265 by January 2020. These closures are not included in the chart below as the company did not provide any information about the location of these stores.  [caption id="attachment_85349" align="aligncenter" width="802"] 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_85401" align="aligncenter" width="798"] 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 Aldi, Five Below, Family Dollar, Dollar Tree and Costco.
*Indochino openings refer to North America openings total, excluding one opening announced for the Greater Toronto Area.
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 totals, due to a lack of detail on timing or location. [caption id="attachment_85351" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption] [caption id="attachment_85352" 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. **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_85353" 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
**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_85354" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption]   2018 Major US Retail Bankruptcies [caption id="attachment_85355" align="aligncenter" 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 356 store openings. Our data represent closures and openings by calendar year. 

What Is Happening This Week in the US

We recorded no major opening or closure announcements in the past week.

Non-Store-Closure News

British Land Sells 12 Sainsbury’s Stores Property development and investment company British Land has sold 12 Sainsbury’s superstores to US real estate investment trust company Realty Income Corporation for £492 million ($637 million). British Land has completed sales of nearly £1 billion ($1.3 billion) in retail assets since April 2018. British Land said there were “clear challenges currently in the retail market,” but that it would be “opportunistic and proactive” on future deals. [caption id="attachment_85356" align="aligncenter" width="794"] 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_85357" align="aligncenter" width="812"] Source: Company reports/Coresight Research[/caption]   2019 Major UK Uncharted Openings and Closures [caption id="attachment_85358" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption] [caption id="attachment_85359" align="aligncenter" width="792"] 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_85360" align="aligncenter" width="792"] 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.