The US

2020 Major US Store Closures and Openings Year to date in 2020, US retailers have announced 768 planned store closures and 1,572 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.

What Is Happening This Week in the US

Albertsons Set To Shut Five Randalls Stores Grocery retailer Albertsons has announced that it will close five Randalls supermarkets in Texas. Liquidation sales commenced on January 15, and the stores are expected to close on February 15, 2020. The stores earmarked for closure include two in Kingwood and one each in Houston, Spring and The Woodlands. Bed Bath & Beyond To Delay Closure of 20 Stores Bed Bath & Beyond has announced that it will delay its plan to close 20 stores until after the first half of fiscal year 2020, ending August 31. The home goods retailer has delayed the closure in order to give itself time to facilitate more sales of its merchandise. In October 2019, the retailer announced plans to close 20 stores in addition to the 40 planned closures for fiscal year 2019, ending March 2, 2020. Five Below To Open 180 Stores Discount retail chain Five Below has announced plans to open 180 stores in 2020. The retailer plans to introduce a Ten Below zone in most of the new stores that will open in 2020. As of January 13, 2020, Five Below operates 900 stores across 36 states in the US. Coresight Research insight: Deep value continues to be a vibrant retail sector, highlighting our Weinswig Hourglass theme: Consumers are attracted to both ends of the retail spectrum—high for curation, experience and relevance, and low for deeply discounted (often private-label) product—while abandoning the middle, where there is a lack of differentiation. We expect that this theme will continue to play out in 2020 across multiple product categories. Havertys To Open Three Stores Atlanta-based furniture retailer Havertys plans to open three stores in 2020. The retailer has identified two of the three locations for the new stores—Myrtle Beach in South Carolina and Southlake in Dallas-Fort Worth market. The new locations are leased former Toys “R” Us stores and are expected to open in fall 2020. Havertys currently operates 121 stores across 16 Southern and Midwestern US states. Opening Ceremony To Shutter All its Stores Fashion retailer Opening Ceremony has announced plans to shut all of its stores. This follows the news from earlier this week that luxury fashion holding company New Guards Group has acquired Opening Ceremony’s trademark and intellectual property. The stores slated to close include two in New York and one in Los Angeles. Coresight Research insight: Once a chic destination for millennials, Opening Ceremony strayed from its original fashion point of view and began to offer a selection of curated premium brands that were also being sold elsewhere. The original brand messaging was lost. Opening Ceremony is therefore stepping back from multi-brand retail, and by closing stores, its new brand owners can distill the brand proposition and potentially re-engage lost customers in addition to attracting new ones. Wawa Debuts New Store Format Convenience-store retailer Wawa has unveiled a new store format in Philadelphia’s Center City. The 3,000-square-foot store features a pickup window for speedy service via mobile and online orders. The store also includes a “Good To Go” section including hot and cold express items. The retailer operates more than 880 stores across Pennsylvania, Maryland, New Jersey, Delaware, Virginia, Florida and Washington DC.

Non-Store-Closure News

CVS To Remodel 600 Stores to HealthHUB Concept Stores in 2020 Pharmacy retailer CVS has announced that it will remodel 600 of its existing stores to HealthHUB concept stores by the end of 2020 and operate a total of 1,500 hubs by the end of 2021. The remodeled stores will allocate 20% of store space to customer health services. The HealthHUB locations will also include wellness rooms for CVS professionals to host events such as health classes and seminars. The retailer launched the HealthHUB concept store in Houston, Texas in 2018 and expanded it to 50 locations across four markets in 2019. Lululemon Appoints First-Ever Chief Brand Officer Athletic-wear retailer Lululemon Athletica announced on January 8, 2020 that it has appointed Nikki Neuburger as its first-ever Chief Brand Officer, effective January 20, 2020. Neuberger will be responsible for elevating the brand and leading the retailer’s marketing, creative communications and sustainability functions, according to the company’s press release. Neuburger previously held the role of Global Head of Marketing for Uber Eats. She also served 14 years with Nike, most recently as the Global Vice President of Nike Running. Party City Appoints New CFO Party goods retailer Party City has appointed Todd Vogensen as its new CFO, effective February 3, 2020. In his new role, Vogensen will be responsible for finance, business development, investor relations and developing the retailer’s multichannel growth strategy. Vogensen joins Party City from Chico’s, where he served as Executive Vice President and CFO. [caption id="attachment_102412" 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 and Signet Jewelers among others. Estimates for Bed Bath & Beyond, Foot Locker, GNC and G-III Apparel are based on the existing proportion of stores in the US. Build-A-Bear, Chico’s, Gap, GNC 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. Gap includes Gap, Old Navy, Banana Republic, Athleta and Intermix 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_102413" 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 Aldi, Dollar General, Foot Locker and Gap among others. Estimates for Bed bath & Beyond and Foot Locker are based on the existing proportion of stores in the US. Gap openings pertain to North America openings. Foot Locker includes the Foot Locker, Lady Foot Locker, Champs Sports, Foot Action and SIX:O2 banners. Gap includes Gap, Banana Republic, Athleta and Intermix banners. Hibbett Sports includes Hibbett and City Gear banners.
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_102414" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]

 

[caption id="attachment_102415" 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 the 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 Wearhouse, 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_102416" 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 Wearhouse. 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 the 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 Retail Bankruptcies [caption id="attachment_102417" 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 343 store closures and 356 store openings. Our data represents closures and openings by calendar year.

What Is Happening This Week in the UK

Beales May Collapse into Administration Department-store retailer Beales has warned that it could collapse into administration. The retailer has said that 22 stores and 1,000 jobs are at risk if it does not find a new owner to buy its business. Beales is also negotiating with its landlords for rent reductions. In December 2019, the retailer had appointed KPMG to undertake a strategic review of its business. GAME May Close 40 UK Stores Gaming retailer GAME has announced plans to close 40 stores in the UK. It has served notice on 27 sites including Bexleyheath, Canterbury, Derby, Glasgow Fort, Leicester, Mansfield and Watford. According to a company spokesperson, the retailer is negotiating with its landlords across the UK to avoid store closures and job losses. These closures do not yet feature in our closures chart as they are subject to negotiation. HMV To Shut Two More Stores; Five “At Risk” Stores Will Now Remain Open  Entertainment retailer HMV has announced that five of the 10 stores at risk of closing will now remain open, after it secured new deals with landlords. The stores that will remain open are located in Edinburgh Ocean Terminal, Glasgow’s intu Braehead, Grimsby, Reading and Sheffield Meadowhall. HMV also confirmed that the Birmingham Bullring and Leads Headrow stores will shut by the end of this month. The remaining three stores could shut by the end of January 2020 unless new deals are secured with landlords. Last week, HMV confirmed plans to close three stores in January 2020 and warned that 10 further stores could close as the retailer was in negotiations with landlords. IKEA To Open Small-Format Store in 2021 IKEA plans to open a small-format store at the Kings Mall Shopping Centre in Hammersmith, West London. The store is expected to open in 2021. IKEA’s property arm Ingka Centers acquired the Kings Mall Shopping Centre for £170 million ($220.6 million) in line with its strategy to move into city centers. Links of London Closes 15 Stores Jewelry retailer Links of London has shut down 15 stores in the UK. The retailer collapsed into administration in October 2019, with almost 300 jobs facing uncertainty. It had appointed Deloitte as administrators to try to secure a rescue deal for its business. In November 2019, Deloitte had hired GCW as property advisors to oversee the retailer’s portfolio of 28 standalone stores and four Folli Folllie stores in the UK and Ireland. Mothercare Closes Remaining 79 Stores Specialist retailer Mothercare has confirmed that it has closed all of its remaining 79 stores in the UK. The last store closed on January 12, 2020. In November 2019, the retailer appointed PricewaterhouseCoopers (PwC) as administrators for its UK business, and joint administrator and PwC partner Zelf Hussain statedthat Mothercare’s 79 stores could close in the ensuing weeks and months. Coresight Research insight: Caught in a hinterland between functional and experience-rich or service-focused retailing, Mothercare saw too much of its UK business peel away to online retailers and nonspecialists such as supermarkets. Its fate underscores the need for retailers to maintain highly differentiated positions in the market, whether through product, experience, service or price.

Non-Store-Closure News

Helen Connolly To Join New Look as Chief Commercial Officer Helen Connolly, Former CEO of clothing retailer Bonmarché, will join fashion retailer New Look as its Chief Commercial Officer. Connolly will replace Chief Product Officer Roger Wightman, who is resigning from New Look after serving the company for 30 years. Connolly resigned as the CEO of Bonmarché in December 2019 after the company fell into administration. [caption id="attachment_102418" 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, M&S and Sainsbury’s. Arcadia refers to Topshop and Topman banner store.
Source: Company reports/Coresight Research [/caption]   [caption id="attachment_102419" 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, 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_102420" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_102421" 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. *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_102422" 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. *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.