The US

2019 Major US Store Closures and Openings Year to date in 2019, US retailers have announced 9,052 planned store closures and 3,956 openings. Coresight Research estimates that 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 5,844 closures and 3,258 openings for the full year 2018. Our data represents closures and openings by calendar year.

What Is Happening This Week in the US

Amazon To Introduce New Store Format Amazon has confirmed its plans to open a new grocery-store format in the Woodland Hills neighborhood of Los Angeles in 2020. The new store format will differ from the company’s Whole Foods Market and Amazon Go brands; for example, it will offer conventional checkout rather than the cashierless self-checkout feature of Amazon Go stores. Neighborhood Goods To Open in New York Department-store retailer Neighborhood Goods will open its second location to date in Manhattan’s Chelsea Market, New York, in December this year. The 4,500-square-foot store will launch with around 40 brands along with a new restaurant concept called Tiny Feast. Nike Expands Small-Store Concept Sportswear retailer Nike has opened a Nike Live store in Long Beach, California. The new store format uses data science and consumer insights to meet customer needs, specifically for the retailer’s NikePlus loyalty club members. The store also offers activities including group workouts and in-store pop-up events with exclusive networking opportunities for members. Coresight Research insight: Nike continues to test new store formats to deepen consumer engagement with the Nike brand as it executes a comprehensive direct-to-consumer strategy. Also this week, Nike announced that it is terminating its trial with Amazon, likely reflecting the continued presence of Nike knock-offs on the Amazon Marketplace. Primark To Open Two New Stores Primark, a subsidiary of Associated British Foods, announced this week that it will open two new stores in 2020: one at the retail and entertainment complex American Dream in New Jersey in spring; and another in Sawgrass Mills in Florida in summer. Coresight Research insight: With only eight stores in the US, Primark is yet to be discovered by most Americans. The American Dream will be a great venue for discovery with its 3 million-plus square feet of entertainment, retail and services.

Quarterly Store Openings/Closures Settlement

This section records previous store opening and closure developments that have been reported in the latest quarterly company filings this week. Dufry Expands Retail Footprint Travel retailer Dufry reported that it opened 45 shops in North America in its first nine months of 2019 ended September 30, 2019. The retailer operates over 2,300 duty-free and duty-paid shops at airports, seaports and other tourist locations. Ralph Lauren Opens 20 Stores and Shuts 21 Fashion retailer Ralph Lauren reported that it opened 20 stores, including 15 in Asia. The retailer also closed 21 stores globally. Our charted estimate for the openings and closures is based on the existing proportion of stores in North America. Richemont Announces Store Openings Luxury goods retailer Richemont reported that in its first half of fiscal year 2019, ended September 30, it opened 37 net new stores, mainly concentrated in the Asia-Pacific region. The company also opened four net new Cartier stores. Our openings chart does not account for these openings, as the company has not divulged details on the number of store openings in the US. Sleep Number Opens 15 Stores and Closes Nine Bedding and mattress retailer Sleep Number has opened 15 stores and closed nine in its third quarter of fiscal year 2019, ended September 28. This followed 32 store openings and 17 closures in its first half of the year, ended June 29. The retailer operates 602 stores across the US, as of September 28, 2019. Under Armour Opens Six Stores Sportswear retailer Under Armour reported that it opened six net new stores in North America in its first nine months of fiscal year 2019, ended September 30. The retailer operates 185 stores in North America and 370 stores globally, as of September 30, 2019.

Non-Store-Closure News

Gap CEO Resigns Clothing and accessories retailer Gap has announced that CEO and President Art Peck will step down from his position and the company’s board after 15 years with the company. Peck will be succeeded by Robert J. Fisher, the retailer’s current non-executive chairman of the board, who will also serve as President and CEO on an interim basis, effective immediately. Fisher has been a member of the board since 1990 and served as non-executive chairman since February 2015. [caption id="attachment_99688" align="aligncenter" width="700"] 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, Athleta, Ascena Retail, Chico’s, Gap, Hibbett Sports, Old Navy, Pier 1 Imports, Signet Jewelers, Tuesday Morning and Walgreens. Our closure estimates for Bed Bath & Beyond, GameStop, Gap, GNC, GIII and Foot Locker are based on proportion of existing stores in the US. Ascena Retail includes Dressbarn. Foot Locker includes Foot Locker, Lady Foot Locker, Kids Foot Locker, Champ Sports, Footaction and SIX:02 banners. Gap includes Gap, Old Navy, Banana Republic, Athleta and Intermix banners. Lululemon includes Lululemon and Ivivva banners. Sears includes Sears and Kmart banners. Tapestry includes Coach, Kate Spade and Stuart Weitzman. Ralph Lauren and Tapestry closures pertain to North America.
*Total includes a small number of retailers that each announced fewer than nine store openings and are not included in the chart.
Source: Company reports/Coresight Research [/caption]   [caption id="attachment_99689" align="aligncenter" width="700"] 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, Costco, Dollar Tree, Five Below and Family Dollar. Estimates of store openings for Bed Bath & Beyond, Foot Locker, Gap, Levi’s and Lululemon are based on the proportion of existing stores in the US. Estimates of store openings for H&M are based on net new stores in the US. Amazon includes Amazon Go, Amazon Books and Amazon 4-Star stores. Foot Locker includes Foot Locker, Lady Foot Locker, Kids Foot Locker, Champ Sports, Footaction and SIX:02 banners. Gap includes Gap, Old Navy, Banana Republic, Athleta and Intermix banners. Sears includes Sears and Kmart banners. Tapestry includes Coach, Kate Spade and Stuart Weitzman. TJX includes TJ Maxx, Marshalls, HomeGoods, Sierra and HomeSense. Dufry AG, Ralph Lauren, Tapestry and Tempur Sealy openings refer to North America openings. Tapestry openings includes 12 net new openings.
*Total includes a small number of retailers that each announced fewer than nine store openings and are not included in the chart.
**Indochino openings refer to North America total openings, excluding one opening announced for the greater Toronto area.
Source: Company reports/Coresight Research [/caption]  

The table below shows announced openings and closures not included in our totals, as the companies did not provide detail on timing or location.

[caption id="attachment_99690" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]

 

[caption id="attachment_99691" align="aligncenter" width="700"] *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_99692" align="aligncenter" width="700"] *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_99693" align="aligncenter" width="700"] *A’gaci filed for bankruptcy for the second time after entering and exiting bankruptcy in 2018
Source: Company reports/Coresight Research [/caption]   2018 Major US Retail Bankruptcies [caption id="attachment_99694" align="aligncenter" width="700"] *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 536 store closures and 692 store openings. Our data represents closures and openings by calendar year.

What Is Happening This Week in the UK

Clintons May Close 66 Stores Greeting cards retailer Clintons may close 66 of its 332 stores in the UK. The retailer is considering these closures and rent cuts on more than 200 shops as a part of its restructuring plan to prevent a collapse. According to a company spokesperson, Clintons is discussing the plan with its landlords and no decisions have yet been made. The potential closures are not included in the chart as the plan has not been confirmed. Lidl Plans To Open 230 Stores Supermarket chain Lidl plans to open 230 stores over the next three years, and thereby take its total store count to 1,000 by 2023. The store expansion plan accelerates the chain’s previously announced plans to open 50 to 60 stores per year. The chain currently operates over 760 stores across England, Scotland and Wales. Mamas & Papas Shutters Six Stores Baby and maternity products retailer Mamas & Papas collapsed into administration on November 8, 2019, and shuttered six underperforming stores located in Aberdeen, Fareham, Leamington, Lincoln Milton Keynes and Preston. Private equity firm Bluegem Capital, which has owned the retailer since 2014, bought back Mamas & Papas’ assets via a pre-pack administration deal. Primark To Open New Store in 2020 Associated British Foods will open a new Primark store at the Trafford Centre, Manchester, this fiscal year ending September 16, 2020. In 2019, the company relocated one of its stores to a new location on Birmingham High Street, which spans around 16,000 square feet and so is Primark’s largest store. Sainsbury’s Announces Store Closures Supermarket chain Sainsbury’s has reported that it will close two supermarkets, 25 convenience stores and 20 Argos stores by the end of its financial year ending March 2020. These closures are a part of the retailer’s previously announced plans to close 10-15 Sainsbury’s supermarkets, 60-70 standalone Argos stores and 30-40 convenience stores during its current and next financial year ending March 16, 2021. [caption id="attachment_99695" align="aligncenter" width="700"] 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, Homebase, Laura Ashley, M&S, New Look and Office.
*Total includes a small number of retailers that each announced one or two store closures and are not included in the chart.
Source: Company reports/Coresight Research [/caption]   [caption id="attachment_99696" align="aligncenter" width="700"] 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, Heron Foods and M&S. Our estimate of store openings for Card Factory is based on the proportion of net existing stores in the UK.
*Total includes a small number of retailers that each announced one or two store openings and are not included in the chart.
Source: Company reports/Coresight Research [/caption]   2019 Major UK Uncharted Openings and Closures [caption id="attachment_99697" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_99698" align="aligncenter" width="700"] 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_99699" align="aligncenter" width="700"] 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.