The US

2020 Major US Store Closures and Openings Year to date in 2020, US retailers have announced 2,184 planned store closures and 2,964 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. This week, we have revised our 2020 opening count for Levi’s, and this has changed our total 2020 US opening count to 2,964. 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 Dean & DeLuca and Walgreens, and this has changed our 2019 US closure count to 9,759.

Coronavirus Update: Temporary Store Closures Caused by the Coronavirus

Many US retailers have already extended the temporary closure of their stores as a result of the coronavirus pandemic by postponing the planned re-opening dates. This week saw such announcements from Ashley Stewart, Carter’s, H&M, Nordstrom and Under Armour, among others. See the Coresight Research Coronavirus Tracker for regularly updated details of announced temporary store closures or reduced opening hours by major US retailers.

What Is Happening This Week in the US

Dean & DeLuca Files for Chapter 11 Bankruptcy Gourmet grocery chain Dean & DeLuca filed for Chapter 11 bankruptcy protection on March 31, 2020, with plans to restructure its business and eventually reopen its stores. This follows the retailer’s failed attempt to restructure out of court. The chain had closed all its stores last year including the first Dean & DeLuca store, which opened in SoHo in 1977. In 2014, Thailand-based real estate company Pace Development acquired Dean & DeLuca for approximately $140 million.

Quarterly Store Openings/Closures Settlement

Walgreens Closes Two Stores Pharmacy-store chain Walgreens, a subsidiary of Walgreens Boots Alliance, has announced that it closed two stores during the second quarter of fiscal year 2020, ended February 29. The chain has closed a total of 116 stores during the first half of fiscal year 2020. These closures are a part of Walgreens Boots Alliance’s cost-management program to close approximately 200 locations in the US by fiscal year 2022, ending August 2022.

Non-Store-Closure News

Macy’s CFO To Depart Department-store chain Macy’s has announced that its EVP and CFO Paula Price will part ways with the retailer, effective May 31, 2020. In order to facilitate a smooth transition, Price will remain as an adviser to Macy’s through November 2020. Price has served the retailer in her current role since July 2018. Coresight Research insight: The company CFO leaves on the heels of Macy’s furloughing the majority of its 125,000 employees and its stock delisting from the S&P 500 Index (with both major events occurring within the past week). While it is unclear if these events precipitated Price’s departure, the incoming CFO will require strong leadership skills in addition to financial management skills to help the company manage in these extraordinary, challenging times. [caption id="attachment_107482" 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, GameStop, 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, Signet Jewelers and Williams-Sonoma 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_107483" 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, Home Depot and Levi’s 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. Signet Jewelers includes Jared, Kay, Peoples, Zales and regional 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 3 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_107484" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption] [caption id="attachment_107485" 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, Tuesday Morning and Walgreens. Our closure estimates for Bed Bath & Beyond, Burberry 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. Signet Jewelers includes Jared, Kay, Peoples, Zales and regional 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, GNC, Michaels, Old Navy, Ralph Lauren, Signet Jewelers, Tapestry and Williams-Sonoma 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_107486" 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. Macy’s includes Bloomingdale’s and Bluemercury banners. Signet Jewelers includes Jared, Kay, Peoples, Zales and regional 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, GNC, Michaels, Old Navy, Ralph Lauren, Signet Jewelers, Tapestry, Tempur Sealy and Williams-Sonoma 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_107487" 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_107488" 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 1,220 store closures and 469 store openings. Our data represents closures and openings by calendar year. This week, we have revised our 2019 closures count for Boots, and this has changed our 2019 UK closure count to 693.

What Is Happening This Week in the UK

Arcadia Group To Close Stores Arcadia Group, owner of Dorothy Perkins, Miss Selfridge, Topman and Topshop, is considering plans to close many stores amid the challenging environment caused by the coronavirus pandemic. The retailer intends to serve notice on landlords and permanently close many of its 550 stores, according to The Times. Cath Kidston To Enter Administration Apparel, accessories and furnishings retailer Cath Kidston has filed a notice of intention to appoint administrators as it evaluates potential rescue options. The retailer intends to appoint advisory firm Alvarez & Marsal as administrators as it seeks to find a buyer for its business. Last month, Cath Kidston had sought the services of advisers from Alvarez & Marsal to undertake a strategic review of its business. Clarks Announces Permanent Closure of Some Stores Footwear retailer Clarks has announced that it will permanently close “a small number” of its 347 stores in the UK, as part of its store portfolio review, according to Sky News. The retailer clarified that the leases of the “fewer than 10” stores earmarked for closure are set to expire in May 2020. Clarks has reportedly appointed financial service company Rothschild & Co. to explore financing options. Debenhams To Appoint Administrators Department-store chain Debenhams filed its notice of intention to appoint administrators on April 6, 2020. The retailer stated that this move will protect its business from liquidating, as all of its stores are temporarily closed in the UK. Debenhams currently operates 142 stores across the UK. Walgreens Boots Alliance Closes 12 Boots Stores Walgreens Boots Alliance has reported that it closed 12 Boots stores during the second quarter of fiscal year 2020, ended February 29. During the six months ended February 29, the pharmacy chain has closed a total of 40 Boots stores in the UK. These closures are a part of the chain’s cost-management program to close 200 Boots stores by the end of this year.

Non-Store-Closure News

Eve Sleep Promotes Cheryl Calverley to CEO Online mattress retailer Eve Sleep has promoted Chief Marketing Officer (CMO) Cheryl Calverley as its new CEO. Calverley succeeds James Sturrock, who is stepping down from his position to take up a new role in another company. Calverley joined Eve Sleep in December 2018 as CMO. Prior to joining the retailer, she had worked with motoring association The AA, frozen-food manufacturer Nomad Foods and Unilever. [caption id="attachment_107489" 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_107490" 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_107491" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_107492" 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_107493" 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.