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 3,017. 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 3,258 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

Target to Open Three Small-Format Stores Target plans to open three small-format stores on or near college campuses by fall this year. According to a company spokesperson, the new stores will be located in Michigan, Kentucky and Washington state. The new stores are being designed to provide a quick shopping experience with locally relevant products. The new stores are a part of the 30 stores the company plans to open this year. This week, we adjusted Target’s 2019 openings figure, which has slightly lowered our total for announced store openings. Coresight Research Insight: Smaller stores meeting local needs are the evolution of retail, with more flexible formats and localization, two factors that better meet consumer needs, and foster consumer loyalty while improving profitability. Gump’s to Re-Open Under New Leadership Home furnishings and décor retailer Gump’s San Francisco has announced it will re-open under new leadership by fall this year. The retailer filed for bankruptcy in August 2018 and shuttered in December 2018. The new owners, the Chachas family, intend to re-launch Gump’s online and physical business, but the location of the new store has not yet been confirmed. Primark to Expand US Footprint Primark, a subsidiary of Associated British Foods, has announced it will open a new store at State Street, Chicago, but did not divulge information regarding the timeline. The retailer has announced it will expand into New Jersey, Florida and Chicago. Associated British Foods had previously reported it plans to open two Primark stores, one each in New Jersey and Florida in 2019 and in 2020 respectively. Primark operated nine stores in the US at the end of its fiscal year 2018, ending September 15, 2018. Coresight Research Insight: Primark entered the US four years ago at what was once Boston’s iconic Filene’s Basement. The stores famous for “Primania” in London are notable for value prices on apparel, accessories, beauty, footwear and home. Fabletics Opens Store in the King of Prussia Mall Digitally native athletic wear retailer Fabletics has opened a brick and mortar store in the King of Prussia Mall in Pennsylvania. Earlier this year, the company announced it will open 12 stores in 2019. The newly opened store offers customers a blend of digital and personal experience. The store will feature iPads in the fitting rooms linked to the customer’s online account to facilitate easy shopping and to elevate the Fabletics shopping experience. Coresight Research Insight: This digitally native brand has found that offline retail is beneficial for overall brand building, customer acquisition and retention. According to an International Council of Shopping Centers (ICSC) report, physcial stores are a point of discovery for emerging brands and new store openings generate an average 45% lift in web traffic. [caption id="attachment_92702" 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 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_92703" 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_92704" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_92705" 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_92706" 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_92707" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption]   2018 Major US Retail Bankruptcies [caption id="attachment_92708" 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 394 store closures and 479 store openings. Our data represents closures and openings by calendar year.

What Is Happening This Week in the UK

Boots Opens Concept Store in London Pharmacy retailer Boots has opened a concept store in Covent Garden, London. The new outlet has a beauty hall and offers more than 300 brands. The store also features an Instagram zone and YouTube studio. According to the company’s statement, the new concept store is the first step towards reinventing Boots for the future. The Works to Open 50 Stores British high-street books-and-stationery retailer the Works has announced it will open 50 new stores but did not divulge details regarding timeline and location of the new outlets. Lidl to Open 12 New Stores in Scotland Lidl has announced it will open 12 new stores in Scotland over the next three years. The stores will be opened in locations such as Larkhall, Dundee and Dumbarton among others. As part of its regeneration program, the company plans to enhance a number of existing stores, either by extensions or relocation to bigger sites. We have not changed our openings total as we believe the new openings are part of the openings that we have already estimated for the year. House of Fraser to Close its Store in Birkenhead Department store chain House of Fraser has announced it will close its store in Birkenhead in September this year. This follows the company’s announcement last month that it will close its Hull store in August. The store in Birkenhead had previously been earmarked for closure last year, but survived following Sports Direct’s acquisition of House of Fraser, and now is back on the list of stores slated for closure. Next Opens New Store in Sheffield Apparel and home products retailer Next has opened a new store at The Moor, Sheffield. [caption id="attachment_92709" 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_92710" 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
Source: Company reports/Coresight Research[/caption]   2019 Major UK Uncharted Openings and Closures [caption id="attachment_92711" align="aligncenter" width="720"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_92712" 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_92713" 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.