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The US
2020 Major US Store Closures and Openings Year to date in 2020, US retailers have announced 8,688 planned store closures and 3,371 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. This week saw an update from rue21, which increased the 2020 US openings count. The 2020 US closures count remains unchanged. 2021: So far, we have tracked 1,444 closures and 1,640 openings for 2021. Charted breakdowns are shown later in the report. 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=144]Coresight Research periodically updates the count for openings and closures when there are new updates or revisions to previous announcements from companies and this could involve retrospective revisions of totals for some weeks. Source: Company reports/Coresight Research
What Is Happening This Week in the US
rue21 Opens Three Stores and Plans To Open 15 More in 2021 Apparel retailer rue21 has opened three stores and plans to open 15 more in the coming year. The retailer previously filed for bankruptcy in May 2017 and exited bankruptcy in September of the same year. The retailer currently operates nearly 700 stores across the US.Quarterly Store Openings/Closures Settlements
NIKE Plans To Open 30 Stores In its second-quarter earnings call on December 18, Apparel retailer NIKE announced that it had opened two NIKE Live and six NIKE Unite stores globally in its second quarter ended November 30, 2020. We have already accounted for these openings in our chart. The retailer also plans to open 30 more stores globally in the second half of its fiscal year ending May 2021. Our 2021 openings count for NIKE is a calendarized estimate based on its multi-year expansion plan announced in June 2020, whereby it confirmed plans to open between 150 and 200 smaller footprint stores in North America by June 2022.Non-Store-Closure News
Guitar Center To Exit Bankruptcy Musical instruments retailer Guitar Center expects to exit bankruptcy by the end of 2020 after its reorganization plan was approved in federal bankruptcy court. The restructuring plans allows the company to eliminate more than $800 million in debt. [caption id="attachment_121253" 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, Heritage Brands, JCPenney, Kmart, Pet Valu, 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. Victoria’s Secret includes PINK and Victoria’s Secret banners.*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_121254" 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. Beauty Systems Group, a subsidiary of Sally Beauty Holdings, is charted under the parent banner.*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=654]
Source: Company reports/Coresight Research
2021 Major US Store Closures and Openings [caption id="attachment_121255" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.Source: Company reports/Coresight Research[/caption] [caption id="attachment_121256" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.Source: Company reports/Coresight Research[/caption] [caption id="attachment_121257" 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_121258" 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=655]
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=656]Revenue figure depicted for Gymboree is for the nine-month period ended November 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 2,545 store closures and 534 store openings. Our data represent closures and openings by calendar year. This week we updated our closure count for Debenhams, which changed the UK store closure counts to 2,545. The 2020 UK store openings count remains unchanged. 2021: So far, we have tracked 265 closures and 261 openings for 2021. We show charted breakdowns later in the report. 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=145]Source: Company reports/Coresight Research
What Is Happening This Week in the UK
Flannels To Open 15 stores in Five Years Apparel retail group Frasers Group has announced plans to open 15 Flannels stores over the next five years. The company plans to open three new flagship stores in 2021—one each in Leicester, Liverpool and Sheffield. The company had previously planned to open the 15 stores in 2021 but has now decided to space the opening across a five-year period. We have revised the openings for Flannels down to three for 2021. Gap To Close Its Oxford Street Store Apparel retailer Gap plans to close one of its stores located on 223-235 Oxford Street in central London. The company has begun its closure sale in the store, noting that it expects to close soon. The company currently has over 70 stores in the UK and four in the Republic of Ireland. The company stated in October this year that it was considering the closure of its entire European store estate in 2021 with plans to operate in the region through partnerships. Debenhams Begins Closure Sales Debenhams has begun closure sales in its 124 stores as it has not confirmed an offer from interested buyers since going into liquidation on December 1, 2020. Debenhams launched a fire sale earlier this month, but has now specifically renamed it as a closing down sale. The liquidation process is reportedly set to be completed by the end of 2020.Non-Store-Closure News
Moss Bros Receives Approval for CVA Men’s apparel retailer Moss Bros has announced that its creditors have accepted its CVA proposal. The proposal includes major restructuring plans in a bid to secure rent reductions. The specifics of the proposal have not yet been revealed. Arcadia Sells Evans Brand for £23 Million Retail group Arcadia group has sold its Evans’ brand, e-commerce and wholesale business to Australian retail company City Chic Collective for £23 million ($30.5 million). City Chic will acquire the Evans’ brand and its intellectual property, customer base and inventory but not its store network under the terms of the deal, which is expected to be completed on December 23. Evans currently has five standalone stores in the UK. [caption id="attachment_121260" 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, Truworth and WHSmith. 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_121261" 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=658]
Source: Company reports/Coresight Research
2021 Major UK Store Closures and Openings [caption id="attachment_121262" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.Source: Company reports/Coresight Research[/caption] [caption id="attachment_121263" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.Source: Company reports/Coresight Research[/caption] [caption id="attachment_121264" 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_121265" 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.