The US

2020 Major US Store Closures and Openings Year to date in 2020, US retailers have announced 1,967 planned store closures and 2,941 openings. Our data represents closures and openings by calendar year, so these totals include announcements made in 2019 of closures and openings expected to fall in 2020. As part of our methodology, we update the 2019 closures and openings numbers on an ongoing basis when we obtain confirmed information from company releases and filings, and these adjustments will continue through 2020. This week, we have revised our 2019 closures count for Grocery Outlet and Hibbett Sports, and this has changed our 2019 US closure count to 9,560. We revised our 2019 openings count for Casper Sleep, Five Below, Grocery Outlet, Hibbett Sports and Ollie’s, and this has changed our 2019 US openings count to 4,591.

What Is Happening This Week in the US

Neiman Marcus Mulls Bankruptcy Luxury department store chain Neiman Marcus is reportedly mulling bankruptcy protection, according to Bloomberg. The retailer stated that it is considering “all options” to stabilize its business debt, according to Retail Dive. The company has 43 full price stores, and last week, it announced plans to close the majority of its Last Call stores, as it intends to focus on full-price selling. Coresight Research insight: Neiman Marcus has been struggling with debt of approximately $4.3 billion, combined with lagging luxury retail comps of 4.1% overall in 2019. The company reported a slowdown in its top 50 brands in 2019. The coronavirus global pandemic has forced the retailer to temporarily close all of its 43 full-price stores and operate online only; as of the third quarter of 2019, 30% of the company’s revenue was generated online.

Quarterly Store Openings/Closures Settlement

Casper Sleep Opens 37 Net New Stores Mattress retailer Casper Sleep has reported that it opened 37 net new stores in 2019. The retailer opened 12 stores during the fourth quarter of fiscal year 2019, ended December 31. Casper Sleep operates 53 stores in the US and seven stores in Canada, as of December 31, 2019. Five Below Plans To Open 180 New Stores Discount store chain Five Below has announced plans to open 180 new stores in fiscal year 2020, ending January 30, 2021. The retailer reported that it opened 150 new stores in fiscal year 2019, ended February 1, 2020. Five Below operates 900 stores in the US, as of February 1, 2020. Coresight Research insight: This week, we published our outlook for 2020 US store closures. In brief, we expect the coronavirus crisis to prompt a wave of bankruptcies and permanent store closures. We expect the crisis to impact planned store openings, too. A number of retailers have laid out ambitious store-opening plans based on normal circumstances, but discretionary brick-and-mortar retail is facing a widespread shutdown of unknown length—and we think it is likely to be longer than the approximate two-week period for which most retailers have so far implemented closures. Store openings will be hit by the suspension of many regular business activities, so we will not be surprised if expectations for new stores across the retail industry are dialed down later in 2020. Grocery Outlet Opens 31 Net New Stores Supermarket retailer Grocery Outlet has reported that it opened 34 stores and closed three in fiscal year 2019, ended December 28. The retailer opened 10 new stores during the fourth quarter ended December 28, 2019, bringing its total store count to 347 stores across six US states. Hibbett Sports Closes 106 Stores and Opens 13 Sporting goods retailer Hibbett Sports closed 106 stores—including 11 Hibbett Sports stores that were rebranded to City Gear stores—in fiscal year 2020, ended February 1, 2020. The retailer opened 13 stores in fiscal year 2020, bringing its total store count to 1,081 stores in the US, as of February 1, 2020. Ollie’s Bargain Outlet Plans To Open 47–49 Stores and Close One Discount store chain Ollie’s Bargain Outlet has announced plans to open 47–49 stores and close one store during fiscal year 2020, ending January 2021. The retailer opened 42 stores in fiscal year 2019, ended February 1, 2020. Ollie’s operates 345 stores, as of February 1, 2020. RTW Retailwinds To Close up to 150 Stores Apparel retailer RTW Retailwinds announced on March 19, 2020 that it plans to close up to 150 locations in the next 18 months, as a part of the retailer’s plan to transform into a digital-first portfolio of brands. RTW Retailwinds closed 27 stores during the fourth quarter of fiscal year 2019, ended February 1, 2020. The retailer operates 387 retail and outlet stores across the US, as of February 1, 2020.

Non-Store-Closure News

Green Growth Brands’ CEO Departs Peter Horvath, CEO of cannabis and CBD retailer Green Growth Brands, resigned from his role, effective March 20. The retailer’s current COO Randy Whitaker has been appointed as the interim CEO. Horvath served as the CEO of Green Growth Brands since January 2019. Under Armour’s Chief Product Officer To Depart Sportswear retailer Under Armour has announced that its Chief Product Officer Kevin Eskridge is set to depart the company, effective August 15, 2020. Eskridge joined the Under Armour in 2009 and was promoted to his current role in May 2017.

Coronavirus Update: Temporary Store Closures Caused by the Coronavirus

More US retailers have closed stores temporarily this week as a result of the coronavirus pandemic. Apart from the many retailers that had already closed stores temporarily, this week saw similar announcements Bed Bath & Beyond, JCPenney, Kohl’s, Ross Stores and TJX Companies, among others. See the Coresight Research Coronavirus Tracker for details of announced temporary store closures or reduced opening hours by major US retailers. [caption id="attachment_106520" 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 Bed Bath & Beyond, Foot Locker, Gap, GNC, H&M, Kmart, Sears and Signet Jewelers among others. Estimates for Abercrombie & Fitch, American Eagle Outfitters, Bed Bath & Beyond, Foot Locker, GNC, G-III Apparel, Hollister and H&M are based on the existing proportion of stores in the US. Aerie, Banana Republic, Build-A-Bear, Chico’s, Gap, Genesco, GNC, Intermix, Michaels, Old Navy and Signet Jewelers closures pertain to North America closures. Foot Locker includes the Foot Locker, Lady Foot Locker, Champs Sports, Foot Action and SIX:O2 banners. Lululemon closures pertain to its Ivivva banner. Macy’s includes Macy’s and Bloomingdale’s banners. Signet Jewelers includes Kay, Zales, Peoples, Jared and regional banners. Stage Stores includes Bealls, Goody’s, Palais Royal, Peebles and Stage banners.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_106523" 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 Abercrombie & Fitch, Aldi, Casey’s, Dollar General, Foot Locker, Gap, Hollister and H&M among others. Estimates for Abercrombie & Fitch, American Eagle Outfitters, Bed bath & Beyond, Foot Locker, Hollister and Home Depot are based on the existing proportion of stores in the US. Aerie, Athleta, Genesco, Michaels, Old Navy, Sephora, Under Armour and Urban Outfitters openings refer to North America openings. Amazon includes Amazon 4-Star and Amazon Go Grocery banners. Foot Locker includes the Foot Locker, Lady Foot Locker, Champs Sports, Foot Action and SIX:O2 banners. Hibbett Sports includes Hibbett and City Gear banners. TJX includes HomeGoods, Homesense, Marshalls, Sierra and T.J. Maxx banners. Ulta Beauty openings refer to net new openings.
*Total includes a small number of retailers that each announced fewer than 2 store openings and are not included in the chart
Source: Company reports/Coresight Research[/caption]   2020 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_106524" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_106525" 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, GNC and GIII-Apparel are based on the proportion of existing stores in the US. Dick’s Sporting Goods includes Dick’s Sporting Goods and specialty concept banners. Foot Locker includes Foot Locker, Lady Foot Locker, Kids Foot Locker, Champ Sports, Footaction, Intermix and SIX:02 banners. Lululemon includes Lululemon and Ivivva banners. Tailored Brands includes Men’s Wearhouse, Men’s Wearhouse and Tux, Jos. A. Bank and K&G banners. Tapestry includes Coach, Kate Spade and Stuart Weitzman. Banana Republic, Foot Locker, Gap, Genesco, Michaels, Old Navy, 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 20 store closures and are not included in the chart.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_106526" 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, 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. Dick’s Sporting Goods includes Dick’s Sporting Goods and specialty concept banners. Foot Locker includes Foot Locker, Lady Foot Locker, Kids Foot Locker, Champ Sports, Footaction and SIX:02 banners. Sears includes Sears and Kmart banners. Macy’s includes Bloomingdale’s and Bluemercury banners. Tailored Brands includes Men’s Wearhouse. Tapestry includes Coach, Kate Spade and Stuart Weitzman. TJX includes TJ Maxx, Marshalls, HomeGoods, Sierra and HomeSense. Athleta, Banana Republic, Casper Sleep, Dufry AG, Foot Locker, Gap, Genesco, Michaels, Old Navy, Ralph Lauren, Tapestry and Tempur Sealy openings refer to North America openings. RTW Retailwinds includes the New York & Company and Fashion to Figure banners.
*Total includes a small number of retailers that each announced fewer than 13 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]    2020 Major US Retail Bankruptcies [caption id="attachment_106527" align="aligncenter" width="700"] *Fairway Market filed for bankruptcy for the second time after entering and exiting bankruptcy in 2016.
Source: Company reports/Coresight Research[/caption]   2019 Major US Retail Bankruptcies [caption id="attachment_106528" 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]  

The UK

2020 Major UK Store Closures and Openings For 2020, major retailers in the UK have announced 1,195 store closures and 469 store openings. Our data represents closures and openings by calendar year. This week, we have revised our 2019 openings count for Morrisons, and this has changed our 2019 UK openings count to 704.

What Is Happening This Week in the UK

Debenhams Plans Additional Store Closures Department store chain Debenhams is reportedly planning more store closures, as part of its ongoing company voluntary agreement (CVA). According to Drapers, the retailer is also negotiating with landlords to secure further rent reductions. Debenhams closed 19 stores in January this year and three in December 2019, as part of its store optimization plan to close 50 stores in the UK. Frasers Group To Close 13 Jack Wills Stores Frasers Group (formerly Sports Direct) has announced plans to permanently close 13 Jack Wills stores in the UK, amid the rising coronavirus crisis. The stores set for closure are located in Abersock, Aldeburgh, Bath, Cambridge, Dartmouth, Exeter, Harrogate, Lincoln, Manchester, Rushden Lakes, Southwold, St Andrews and St Ives. The latest batch of closures follows the closure of six Jack Wills stores earlier this year. Laura Ashley Announces Closure of 70 Stores Fashion and homeware retailer Laura Ashley has announced the closure of 70 stores in the UK, with almost 721 jobs facing uncertainty. The retailer’s remaining 77 UK stores will continue trading. Last week, Laura Ashley collapsed into administration, stating that the coronavirus outbreak had a significant impact on its business. Morrisons To Open Five Stores Supermarket chain Morrisons has announced plans to open five new stores in fiscal year 2020/21, ending January 2021. The retailer opened four stores, including two replacements, and closed four stores during fiscal year 2019/20, ended February 1, 2020.

Coronavirus Update: Temporary Store Closures Caused by the Coronavirus

Moss Bros, Next, Primark, Ted Baker, The Entertainer and The Works are the latest retailers to temporarily close stores in the UK due to the crisis triggered by the coronavirus pandemic. Retailers such as Ann Summers, Carpetright, Crew Clothing and Watches of Switzerland have also temporarily closed stores, following similar closures from a host of other retailers earlier this month. [caption id="attachment_106529" 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 Boots, Debenhams, H&M, M&S and Sainsbury’s. Arcadia refers to Topshop and Topman banner store. McColl’s includes convenience stores and newsagents.
Source: Company reports/Coresight Research[/caption]   [caption id="attachment_106530" 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 Aldi, B&M, H&M, Lidl, M&S and Sainsbury’s. Card Factory is based on the proportion of net existing stores in the UK.
Source: Company reports/Coresight Research[/caption]   2020 Major UK Uncharted Openings and Closures [caption id="attachment_106531" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_106532" 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. Arcadia includes Topshop, Topman and Miss Selfridge banners. McColl’s includes convenience stores and newsagents.
*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_106533" 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, 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 the Anthropologie banner. H&M includes H&M and Weekday brands. McColl’s includes convenience stores and newsagents.
*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]   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.