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. 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 Allbirds, Tapestry and Untuckit, 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

JCPenney Mulls Filing for Bankruptcy Department-store chain JCPenney is considering filing for bankruptcy protection, as the coronavirus outbreak has disrupted its turnaround plans and caused the chain to temporarily close its 850 US stores, according to Reuters. The chain has not yet made a final decision and is assessing ways to rework its debt with creditors outside of bankruptcy court. True Religion Apparel Files for Chapter 11 Bankruptcy Denim retailer True Religion Apparel filed for Chapter 11 bankruptcy protection on April 13, 2020, for the second time in less than three years, owing to the extended store closures triggered by the coronavirus pandemic. In its court filings, the retailer stated that while it would have preferred to wait out the current lockdown phase, it “could not afford to do so.” True Religion’s CEO Michael Buckley said that the retailer’s major lenders ABL and Term Loan were providing additional funding to reorganize its business under Chapter 11. True Religion operates 87 stores, which are currently closed due to the coronavirus lockdown.

Non-Store-Closure News

Walmart E-Commerce Executive To Join eBay as CEO eBay has appointed Jamie Iannone as CEO, effective April 27, 2020. Iannone, who most recently served as the COO of Walmart E-Commerce, will also join eBay’s Board of Directors. He will succeed former CEO Devin Wenig, who resigned from the company in September 2019. Iannone previously held the position of VP and other leadership roles within eBay from 2001 to 2009. [caption id="attachment_107872" 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_107873" 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_107874" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]

 

[caption id="attachment_107875" 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_107876" 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_107877" align="aligncenter" width="700"] *Fairway Market filed for bankruptcy for the second time after entering and exiting bankruptcy in 2016.
**True Religion Apparel filed for bankruptcy for the second time after entering and exiting bankruptcy in 2017.
Source: Company reports/Coresight Research [/caption]   2019 Major US Retail Bankruptcies [caption id="attachment_107878" 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 1,229 store closures and 480 store openings. Our data represents closures and openings by calendar year. 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 Tesco, and this has changed our 2019 UK closure count to 718. We also revised our 2019 opening count for Tesco, and this has changed our 2019 UK opening count to 752.

What Is Happening This Week in the UK

Debenhams Falls into Administration Department-store retailer Debenhams has collapsed into administration, 12 months after it last filed for administration in April 2019. The retailer has appointed Alastair Massey and Geoff Rowley from advisory firm FRP Advisory as administrators. Last week, the retailer filed a notice of intention to appoint administrators, stating that the administration will protect its business from liquidating, even as all its 142 stores are temporarily closed in the UK. The Oasis and Warehouse Group To Enter into Administration Women’s fashion retail chains Oasis and Warehouse are planning to file for administration, as the retailers’ 90 UK stores are temporarily closed amid the coronavirus outbreak. The group intends to appoint Deloitte as administrators to manage the insolvency process as it seeks to find a buyer for the business, according to Sky News. Last month, The Oasis and Warehouse Group had sought Deloitte’s services to explore a sale of the business. Tesco Opens 121 and Closes 112 Stores Tesco has reported that it closed 94 stores and opened 86 stores in the UK, including 54 One Stop stores that were converted to Tesco Express stores, during fiscal year 2019/20, ended February 29, 2020. The retailer also opened 35 One Stop franchise stores and closed 18 in fiscal year 2019/20.

Non-Store-Closure News

Boots Temporarily Closes 60 Stores Pharmacy chain Boots has temporarily closed 60 stores across the UK in order to redeploy its pharmacists to busier Boots stores amid the coronavirus crisis. The affected stores are primarily located in airports, city centers, retail parks and train stations, as there are almost no customers visiting these locations currently. [caption id="attachment_107879" 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_107880" 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_107881" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]     [caption id="attachment_107882" 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_107883" 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.