The US

2019 Major US Store Closures and Openings Year to date in 2019, US retailers have announced they will close 7,062 stores and open 3,022. Coresight Research estimates US store closures could reach 12,000 by the end of 2019. By week 15 of 2019, year-to-date announced closures had already exceeded the total for all of 2018. We recorded 5,864 closures and 3,251 openings for the full year 2018. Our data represents closures and openings by calendar year. Following Ascena Retail’s June 10 quarterly report which revised its store closure numbers, we updated the Coresight Research estimate for the company’s store closures, lowering the previously announced total figure for 2019 announced store closures.

What Is Happening This Week in the US

Pier 1 Imports to Shutter 12 More Stores Home décor and furniture retailer Pier 1 Imports will close 12 more stores in fiscal 2020. In April this year, the chain announced it would shutter 45 stores, bringing its total number of closures to 57 stores this fiscal year, ending in March 31, 2020. The company operated 967 stores at the end of its first quarter of fiscal 2020 which ended on June 1, 2019. Gordmans Opens 25 stores in Ohio and 11 in Other States Off-price apparel and home decor retailer Gordmans, a subsidiary of Stage Stores, opened 25 stores in Ohio last week and 11 in other states. The new stores were opened in cities including Bucyrus, Logan, Athens, Celina among others. The new outlets are all converted stores of either the Goody’s or Peebles banners, both of which are also owned by Stage Stores. The company had previously opened 38 stores in March bringing the total number of openings this year to 74. We have not added these openings to our openings total as the new stores are all converted from banners under the same parent company. Coresight Insight: Off-price brick-and-mortar retail remains a vibrant channel with its mix of a treasure hunt experience and the sharp value pricing shoppers seek. Stage Stores could attract new shoppers with this re-bannering and a new business model as off-price generally attracts younger shoppers than the previous department store banners, Goody’s and Peebles. Nordstrom Set to Close its Store at Mall of Partridge Creek Luxury department store chain Nordstrom announced it plans to shut its store in The Mall at Partridge Creek, outside Detroit. According to a company spokesperson, the store will operate until September 13. The company said it intends to focus on serving customers at its Nordstrom and Nordstrom Rack Stores, as well as its online customers. Dick’s Sporting Goods Plans to Open a New Store US sporting goods retailer Dick’s Sporting Goods will open one store in July. The inauguration will be held between July 12 and 14 at Eastvale Gateway store, California. With the opening of the new store, Dick’s will operate 729 stores in 47 states. VSP Global Goes Offline with Stores in Chicago VSP Global, a vision benefits company that provides eye care to 88 million people through a network of 40,000 benefits providers, is moving into brick-and-mortar eyewear retailing. The company announced plans to open three Eyeconic stores in Chicago in 2019, one of which has opened already. The new store will serve as an extension of VSP’s e-commerce site and will offer approximately 500 frames and 2,300 styles, in addition to offering eye exams and prescriptions for new glasses.  Mayors Opens Florida Flagship Luxury jewelry and timepiece retailer Mayors has opened a flagship store at Merrick Park in Florida. The retailer, which offers brands such as Rolex, Cartier and Omega, operates 17 stores in Georgia and Florida. The store has three main spaces and features a lounge and botanical garden. Coresight Insight: Opening a flagship with a lounge and botanical garden is the kind of spectacular retail we posited in our 10 Retail Trends for 2019. The Mayors flagship will attract shoppers, and create an experience and community. Conn’s HomePlus Opens in San Angelo Conn’s HomePlus, a US retail chain specializing in furniture, mattresses, electronics and appliances, has announced plans to open a new store in the Sunset Mall in San Angelo, Texas, this month. The new store joins more than 55 Conn’s HomePlus stores in Texas. The company announced in its first quarter earnings report that it plans to open 14 to 15 new stores in fiscal 2020. [caption id="attachment_92293" align="aligncenter" 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, Ascena Retail, Chico’s, Hibbett Sports, Signet Jewelers, Tuesday Morning and Walgreens
*Ascena Retail excluding Dressbarn; these estimates were revised in week 24 from 400 to 120 based on closures announced in the company’s latest results
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_92294" align="aligncenter" 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 Aldi, Five Below, Family Dollar, Dollar Tree and Costco
* Total includes a small number of retailers that each announced one store opening and are not included in the chart above.
**Indochino openings refer to North America total openings, 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 included in our totals, as the companies did not provide detail on timing or location. [caption id="attachment_92295" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_92296" align="aligncenter" 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_92297" align="aligncenter" 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_92298" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption]   2018 Major US Retail Bankruptcies [caption id="attachment_92299" 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 392 store closures and 477 store openings. Our data represents closures and openings by calendar year.

What Is Happening This Week in the UK

Boots to Close 200 Stores Across UK Health and beauty retailer Boots, a subsidiary of US-based Walgreens Boots Alliance, has announced plans to close 200 stores across the UK over the next 18 months. Boots currently operates around 2,500 stores in the UK. H&M Scales Down Expansion Plans Swedish apparel retailer H&M has scaled down its expansion plans and announced it now intends to open only 130 new stores in 2019. Earlier this year, the company had announced plans to open 175 new stores. Adapting to the industry shift, the company plans to invest in online operations and focus on its e-commerce offerings. The company has not disclosed the locations of the store openings. Deichmann to Expand UK Footprint German footwear retail chain Deichmann has announced it plans to strengthen its UK footprint by expanding its portfolio. The company did not disclose details about the number of stores it plans to open, locations or timelines. VPZ Plans to Open 200 Stores Over Three Years British vape retailer VPZ has unveiled an expansion plan that will see it open 200 stores over the next three years. The company is headquartered in Edinburgh and operates over 125 stores in the UK. The retailer has plans to expand to Wales and the South East, to keep up with growing demand for vaping products.

Non-Store-Closure News

Office Considers a Restructuring Program Footwear retailer Office, owned by South African clothing retailer Truworths, is reportedly considering a restructuring program that could lead to the closure of some of its branches. The retailer has appointed administrators Alvarez & Marsal (A&M) to prepare for a potential Company Voluntary Arrangement (CVA), although the company’s restructuring plan is still uncertain. [caption id="attachment_92300" align="aligncenter" 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 Homebase, Laura Ashley and New Look
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_92301" align="aligncenter" 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 Iceland and VPZ
Source: Company reports/Coresight Research[/caption]   2019 Major UK Uncharted Openings and Closures [caption id="attachment_92302" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_92303" align="aligncenter" 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_92304" align="aligncenter" 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, Iceland, 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.