The US

2019 Major US Store Closures and Openings Year to date in 2019, US retailers have announced 9,302 planned store closures and 4,454 openings. 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

IT’Sugar Unveils New Store at New Jersey Specialty candy retailer IT’Sugar has opened a 22,000-square-foot store at retail and entertainment center American Dream in New Jersey. The three-level store features a lollipop garden, candy bins and a replica of the Statue of Liberty covered with Jelly Belly beans. The store also houses branded shops, including Starburst, Nerds and Sour Patch Kids. A new Oreo café concept called Oreo TWISTiD will open on the third floor of the store in spring 2020. New RH Store Opens at Columbus, Ohio Home-furnishings retailer RH has opened a new store called RH Columbus, The Gallery at Easton Town Center, Ohio. The three-level store spans around 60,000 square feet and showcases luxury home furnishings in a gallery setting, including full floors of RH’s Interiors, Modern and Outdoor brands. The store also includes the company’s in-house Interior Design brand and atelier, as well as a rooftop restaurant and wine and barista bar. According to previously announced plans, RH was to open five to seven new Galleries in 2019—to date, it has opened six. Coresight Research insight: The Galleries are huge RH flagships that are examples of spectacular retail, combining products, services and experiences—meeting two of the four metrics in our proprietary BEST framework for physical retail, comprising brand building, experiences services and technology integration. The market for home-furnishing products is positive, based on the strength of US labor markets and consumer spending, as well as the low-interest-rate environment. The Federal National Mortgage Association just lifted its forecast for residential construction to a 4.5% annualized rate for 2019, and it also upped 2020’s rate to 3.4%. Saatva Opens First Physical Location Luxury mattress retailer Saatva has opened its first-ever brick-and-mortar store called “Viewing Room” on the Upper East Side of Manhattan, New York. The 3,300-square-foot store sells the retailer’s entire range of sleep products, including organic cotton sheets and pillows and designer bed frames. The new store also features a number of tablets and information stations that shoppers can use to interact with Saatva’s collection. Shopko Optical Announces Opening of 80 Centers in 180 Days Eyewear retailer Shopko Optical has confirmed that it opened 80 free-standing optical centers in 180 days across Idaho, Illinois, Iowa, Michigan, Minnesota, Montana, Nebraska, South Dakota, Utah, Washington and Wisconsin. The retailer plans to open 35 more optical centers in 2020. In January 2019, Wisconsin-based general-merchandise chain Shopko filed for bankruptcy and subsequently announced in March that it would close all 363 stores. In May 2019, private investment firm Monarch acquired Shopko and began operating Shopko Optical as a separate entity. Coresight Research insight: Eyewear as a fashion accessory as well as vision correction makes optical retail an attractive category in the retail industry. Disruptor Warby Parker is an online retailer of optical products that has introduced consumers to lower-priced alternatives, prompting price-conscious consumers to buy in large quantities.

Non-Store-Closure News

Kate Spade CEO To Exit Luxury fashion holding company Tapestry has announced that Anna Bakst, Kate Spade’s CEO and Brand President, will depart at the end of 2019. Tapestry has begun the search for a replacement for Bakst, who has been at the helm of Kate Spade since April 2018. Tapestry’s CFO Joanne Crevoiserat will lead Kate Spade’s strategy and operations on an interim basis. [caption id="attachment_101447" 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, Burberry, 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. Tailored Brands includes Men’s Warehouse, Men’s Wearhouse and Tux, Jos. A. Bank and K&G banners. Tapestry includes Coach, Kate Spade and Stuart Weitzman. Ralph Lauren and Tapestry closures pertain to North America. RTW Retailwinds includes New York & Company and Fashion to Figure banners.
*Total includes a small number of retailers that each announced fewer than 14 store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_101448" 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 and TJX 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. Macy’s includes Bloomingdale’s and Bluemercury banners. Tailored Brands includes Men’s Warehouse. 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. RTW Retailwinds includes New York & Company and Fashion to Figure banners.
*Total includes a small number of retailers that each announced fewer than 11 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]   2019 Major US Uncharted Openings and Closures 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_101449" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_101450" 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_101451" 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_101452" 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_101453" 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 569 store closures and 703 store openings. Our data represents closures and openings by calendar year.

What Is Happening This Week in the UK

House of Fraser To Close Milton Keynes Store Sports Direct has announced that it will shut its House of Fraser store in the Centre MK shopping center at the end of January 2020, which will result in 172 job redundancies. Sports Direct has laid the blame on Harrods for the store closure, with the latter reportedly holding the lease of the store that would entitle it to use the premise if House of Fraser vacates it. However, a Harrods spokesperson has refuted this, stating that it was Sports Direct’s decision to close the store. Mike Ashley May Close More House of Fraser Stores Sports Direct’s CEO Mike Ashley has warned that there could be more House of Fraser store closures, unless the government undertakes a review on the business rates system. Regarding a time frame for closures, Ashley said, “Realistically, it’s months, not years.” He did not disclose the number of stores that would shut. Sports Direct has formally rebranded itself as Frasers Group with the approval of the shareholders at an investors meeting held on December 16. These closures are not included in the chart as the retailer has not disclosed the number of stores and timeline. The Book People Collapses into Administration Book retailer The Book People has collapsed into administration one week before Christmas, with almost 400 jobs facing uncertainty. PricewaterhouseCoopers (PwC), which has been officially appointed as administrator, said that the business will continue to trade with no immediate redundancies. The retailer was acquired in 2014 by private equity group Endless. [caption id="attachment_101454" 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, Burberry, 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_101455" 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. Abercrombie & Fitch includes Abercrombie & Fitch and Hollister banners. Urban Outfitters includes Anthropologie banner.
*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_101456" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_101457" 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_101458" 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.