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The US
2020 Major US Store Closures and Openings Year to date in 2020, US retailers have announced 8,022 planned store closures and 3,382 openings. Our data represent closures and openings by calendar year, so these totals include announcements made in 2019 of closures and openings expected to fall in 2020. The chart below depicts the week-by-week totals of US store closures and openings year to date in 2020. US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=126]Source: Company reports/Coresight Research
Coronavirus Update: US States and Stores Are Reopening
Many US retailers have reopened stores, as state governments have relaxed their lockdown restrictions. This week saw reopening updates from VF Corporation and Warby Parker, among others. See the Coresight Research Coronavirus Tracker for regularly updated details of announced store reopenings and US states that are permitting the reopening of businesses.What Is Happening This Week in the US
Conns Homeplus Announces the Opening of a New Store Specialty store retailer Conns Homeplus has announced that it will open its first Florida-based store at University Town Plaza in Pensacola in November and will continue its expansion in the state with a distribution center in Lakeland in early 2021. The company currently operates over 140 stores in Alabama, Arizona, Colorado, Florida, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia. Flying Tiger Copenhagen To Close All Stores Danish variety store chain Flying Tiger Copenhagen has announced that it will close all of its 13 US stores in November. The company operates over 950 stores worldwide. Target Plans To Expand Its Store Footprint Mass merchandiser Target plans to open a store in Bay Harbour Mall, in the town of Lawrence. The store, which spans 43,000 square feet, was earlier occupied by Bed Bath & Beyond and H&M. It also plans to open a 70,000-square-foot store at Lake Success Shopping Center in New Hyde Park. We have updated these openings in our openings chart previously.Quarterly Store Openings/Closures Settlements
Aritzia Opens a New Store Apparel retailer Aritzia has announced that it has opened one new boutique for the quarter ended August 30, 2020. Albertsons Opens Two Stores Grocery retailer Albertsons has announced that it has opened two stores this year as of October 20, 2020. The company operates 2,252 stores as of September 12, 2020. Sleep Number Corporation Closes Two Stores Bedding retailer Sleep Number Corporation has announced that it has closed two stores in its third quarter ended September 26, 2020. The company currently operates 596 stores, as of September 26, 2020.Non-Store-Closure News
Acme Markets To Acquire Kings Food Market and Balducci’s Food Lover’s Market Grocery retailer Acme Markets, a division of Albertsons Companies, has won the bid to acquire 27 Kings Food Market and Balducci’s Food Lover’s Market stores through a bankruptcy auction. The retailer plans to operate these stores under their original banners, i.e. Kings Food Market and Balducci’s Food Lover’s Market. JCPenney May Exit Bankruptcy Department store chain JCPenney has announced that it expects to exit Chapter 11 bankruptcy ahead of the holiday season. The retailer has said that it is a step closer to a sale to mall owners Brookfield Property Partners and Simon Property Group. Law firm Kirkland & Ellis said at a court hearing that the mall owners are working toward finalizing an $800 million deal to save the company from bankruptcy. The firm also added that this move would save about 70,000 jobs and 650 stores. Court approvals and other conditions will decide the final outcome. [caption id="attachment_118055" 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, JCPenney, Kmart, Sears and Signet Jewelers among others. Estimates for Abercrombie & Fitch, American Eagle, 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, Bed Bath & Beyond, Build-A-Bear, Chico’s, Gap, Genesco, Intermix, Michaels, Old Navy, Signet Jewelers, Tapestry and Williams-Sonoma closures pertain to North America closures. Ahold Delhaize includes Food Lion, Hannaford, Stop & Shop and The Giant Company banners. 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. Papyrus includes American Greetings, Carlton Cards, Paper Destiny and Papyrus banners. Signet Jewelers includes Kay, Zales, Peoples, Jared and regional banners. Stage Stores includes Bealls, Goody’s, Palais Royal, Peebles and Stage banners. Ascena Retail includes Justice, Catherines, Ann Taylor, Lane Bryant, LOFT and Lou & Grey.*Total includes a small number of retailers that each announced fewer than 12 store closures and are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_118056" 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, Foot Locker, Hollister, Home Depot and Levi’s are based on the existing proportion of stores in the US. Aerie, Athleta, Bed Bath & Beyond, Genesco, GNC, Michaels, Old Navy, Sephora, Tapestry, Under Armour and Urban Outfitters openings refer to North America openings. Ahold Delhaize includes Food Lion, Hannaford, Stop & Shop and The Giant Company banners. 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.*Total includes a small number of retailers that each announced fewer than five 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 details announced openings and closures not included in our totals, as the companies did not provide detail on timing or location. [wpdatatable id=512]
Source: Company reports/Coresight Research
[caption id="attachment_118058" 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 Burberry and GIII-Apparel are based on the proportion of existing stores in the US. Ahold Delhaize includes Food Lion, Hannaford, Stop & Shop and The Giant Company banners. CVS includes retail drugstores, onsite pharmacy stores, specialty stores and pharmacies within Target 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, 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, Bed Bath & Beyond, 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_118059" 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 Gap, Levi’s and are based on the proportion of existing stores in the US. Estimates of store openings for H&M, Lululemon Athletica and TJX are based on net new stores in the US. Ahold Delhaize includes Food Lion, Hannaford, Stop & Shop and The Giant Company banners. Amazon includes Amazon Go, Amazon Books and Amazon 4-Star stores. CVS includes retail drugstores, onsite pharmacy stores, specialty stores and pharmacies within Target 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 T.J. Maxx, Marshalls, HomeGoods, Sierra and HomeSense. Athleta, Banana Republic, Bed Bath & Beyond, 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 15 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 [wpdatatable id=513]
Revenue figure depicted for Centric Brands is for the nine-month period ended September 30, 2019. *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. **J.Crew Group includes J.Crew and Madewell banners; Ascena Retail Group includes Justice, Catherines, Ann Taylor, LOFT, Lane Bryant and Lou & Grey banners; Le Tote includes Lord & Taylor banner; Tailored Brands includes Men’s Wearhouse and Jos. A. Bank, Moores Clothing for Men and K&G banners. N/A – Not Available Source: Company reports/Coresight Research
2019 Major US Retail Bankruptcies [wpdatatable id=514]Revenue figure depicted for Gymboree is for the nine-month period ended Nov 3, 2018. *A’gaci filed for bankruptcy for the second time after entering and exiting bankruptcy in 2018. N/A – Not Available Source: Company reports/Coresight Research
The UK
2020 Major UK Store Closures and Openings For 2020, major retailers in the UK have announced 2,207 store closures and 537 store openings. Our data represent closures and openings by calendar year. This week, we have updated our 2020 UK closure count for Edinburgh Woollen Mill and Poundstretcher, and this has changed our 2020 UK closure count to 2,205. The chart below depicts the week-by-week totals of UK store closures and openings year to date in 2020. UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=127]Source: Company reports/Coresight Research
What Is Happening This Week in the UK
Asda Opens New Concept Store in Leeds Supermarket chain Asda has announced that it has opened a new concept store centered around sustainability in Middleton, Leeds. The store features product refill stations, fresh produce sold loose and unwrapped, and recycling facilities, among other features. The company stated that the consumer will not have to pay more for greener options. The opening of this store is in line with the retailer’s plan of eliminating 3 billion pieces of plastic from products sold under its label by 2025. The retailer plans to open more locations next year after gathering feedback from its customers. The Co-op To Open Two New Stores Grocery chain The Co-op plans to open two new food stores in Birmingham this month after it received an investment of £2.3 million ($3 million). It plans to open in High Street, Harborne and University Locks locations. These new stores will generate 30 local jobs. We have updated our chart with these openings previously. Edinburgh Woollen Mill To Close Stores Clothing retailer Edinburgh Woollen Mill Group (EWM), which owns Peacocks and Bonmarche, has announced that it will close 50 stores this month and anticipates that it will further close 100–150 stores by the end of October. Earlier this month, EWM had filed a notice to appoint administrators from FRP Advisory, but the retail group’s landlords have criticized the administration proposals. In our closures chart, we chart the confirmed 50 closures but not the unconfirmed 100–150 closures, which we will track. Gap May Close All Europe Stores Apparel retailer Gap has announced that it may close stores across the UK and Europe in the second quarter of 2021. As part of its restructuring plan announced in August, the company had stated that it would close more than 225 Gap and Banana Republic stores this year and that more stores might close down in 2021. The retailer plans to revamp its business model in Europe by expanding its third-party franchising structure. Poundstretcher To Open 50 and Close 50 Stores Discount store chain Poundstretcher plans to open 50 new stores in 2021 after receiving a green light from its creditors to restructure the business. This development comes despite the retailer launching a CVA (company voluntary arrangement) proposal in July, which could see about 450 stores permanently close. Around 50 stores have already closed since the approval of the CVA proposal. Our openings chart shows 2020 changes, so does not include the planned 2021 openings. Sandersons To Open Its Second Store Apparel and beauty retailer Sandersons has announced that it has taken over a former New Look unit spanning over 8,500 square foot in Morpeth’s Sanderson Arcade, Northumberland. The first Sandersons store opened in 2016 in Fox Valley, North Sheffield, and the retailer is owned by the Morpeth’s Sanderson Arcade’s developer and owner Dransfield Properties.Non-Store-Closure News
Superdry Announces CFO Departure Clothing and accessories retailer Superdry has announced that its CFO Nick Gresham has resigned. Gresham had joined the company in June 2019 and previously held the same position with Wiggle and Oak Furnitureland. The retailer has confirmed that a search for its new CFO will start soon and that interim arrangements have been made. [caption id="attachment_118063" 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, Sainsbury’s and Truworth. Arcadia refers to Topshop and Topman banner store. McColl’s includes convenience stores and newsagents. Baird Group includes Ben Sherman, Jeff Banks and Suit Direct licensed stores among others.*Total includes a small number of retailers that each announced fewer than six store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_118064" 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 [wpdatatable id=516]
Source: Company reports/Coresight Research
[caption id="attachment_118068" 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_118069" 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.