The US

2020 Major US Store Closures and Openings Year to date in 2020, US retailers have announced 1,249 planned store closures and 1,931 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

Amazon To Open More Amazon 4-Star Stores Amazon plans to expand its brick-and-mortar presence by opening 11 Amazon 4-Star stores in 2020, according to a listing on its website. The new stores will be located in Arizona, California, Connecticut, Florida, Georgia, Michigan, Minnesota, New Jersey and Texas. Amazon 4-Star stores offer a curated list of products, including consumer electronics, devices, home and toys, that Amazon customers have rated four stars or more. The company debuted its 4-Star concept store in 2018 and currently operates nine such stores in California, Colorado, Illinois, Massachusetts, New York, Texas and Washington. Dick’s Sporting Goods To Open Three Stores Sporting goods retailer Dick’s Sporting Goods has announced plans to open three new stores on February 28, 2020. The retailer will open two new Dick’s Sporting Goods stores at Broadway Square in Texas and The Village at Lee Branch in Birmingham, Alabama. A Golf Galaxy store will also open at the Alabama location. As of November 2, 2019, the retailer operates 855 stores in the US. Earth Fare To Close All Stores Organic supermarket chain Earth Fare announced on February 3, 2020 that it plans to close all of its stores and its corporate office. The chain will commence inventory liquidation sales at all 50 of its stores in the US. Earth Fare stated in a news release that it was unsuccessful in refinancing its debt owing to “continued challenges in the retail industry.” The chain operates stores in Alabama, Florida, Georgia, Indiana, Michigan, North Carolina, Ohio, South Carolina, Tennessee and Virginia. Coresight Research insight: Grocery retail is in the early stages of e-commerce disruption. As e-commerce’s share grows, and consumers also opt for smaller-format stores as a complement to online shopping, we expect the next few years to see industry consolidation. Hy-Vee To Open Six Dollar Fresh Stores Supermarket chain Hy-Vee has announced plans to open six Dollar Fresh stores in Iowa this year, according to a company press release. The new stores will be located in Cresco, Dyersville, Hampton, Oelwein, Waukon and Vinton. The stores will be renovated locations of former Shopko stores that Hy-Vee has agreed to acquire. Macy’s To Close 125 Stores; To Open New Concept Store Department store retailer Macy’s has announced plans to close 125 underperforming stores over the next three years. These include 29 stores that were previously earmarked for imminent closure by the company earlier in 2020. The store optimization plan is a part of the retailer’s three-year strategic plan to stabilize profitability and position itself for growth. Macy’s is also planning to open a new concept store in Southlake, Texas. The new store will be called “Market by Macy’s” and will also include a café. Coresight Research insight: While these closures are probably necessary given Macy’s positioning and the channel shifts happening in retail, the underlying decline at Macy’s is in part a reflection of the retailer’s lack of differentiation. As competition from the online and discount channels intensified, Macy’s should have moved more boldly away from “functional retailing.” The chain could have focused on becoming the place for shoppers to experience brands and where companies turn to build those brands; it could have inspired and excited shoppers through improved merchandising and events; and, its pre- and post-sales service could have been amplified as a differentiator to functional rivals. Macy’s still has the opportunity to do this, if the company is willing to invest in improving in-store environments and experiences. In the coming years, we expect the most successful retailers selling discretionary goods to adopt “spectacular retail” formats: destination stores offering brand-building experiences, enhanced services and add-ons such as customization and personalization. Sephora Announces 2020 Store Expansion Plan LVMH-owned beauty retailer Sephora announced on February 4, 2020 that it plans to open 100 stores in North America this year. This expansion plan will more than double the number of store openings from the previous year, according to the beauty retailer. Sephora intends to open stores in more than 75 cities centered around local neighborhoods and community centers, including Charlotte in North Carolina, Nashville in Tennessee and San Jose in California. Coresight Research insight: Cosmetics is a profit center for department stores, and with the contraction of the department store channel, the opportunity opens up for Sephora. Notably, the openings will focus on off-mall locations, providing easy access for shoppers.  Victoria’s Secret Closes One of Its Orlando Stores Lingerie retailer Victoria’s Secret closed one of its Orlando stores on February 5, 2020. The store, which was located at the Oviedo Mall in Florida, was one among nine Victoria’s Secret locations in the Orlando area. Parent company L Brands stated that none of the other eight Victoria’s Secret stores in the Orlando area are scheduled to close.

Quarterly Store Openings/Closures Settlement

H&M To Open 200 Stores and Close 175 Stores Swedish clothing retailer H&M has announced that it plans to open 200 new stores and close 175 stores globally in 2020. The retailer will open most of its stores in Asia (excluding China), Eastern Europe, Russia and South America and close stores in China, Europe and the US. Our estimate for closures is based on the proportion of existing stores in the US. Tractor Supply Company To Further Retail Expansion Home improvement retailer Tractor Supply Company has announced plans to open 80 Tractor Supply stores and 10 to 15 Petsense stores in 2020. As of December 28, 2019, the retailer operates 1,844 Tractor Supply stores and 180 Petsense stores in the US.

Non-Store-Closure News

Forever 21 To Sell Its Business Fast-fashion retailer Forever 21 has reached an agreement to sell its assets to a group of buyers for $81 million, according to court documents. The consortium of buyers comprises brand management firm Authentic Brands and mall operators Simon Property Group and Brookfield Property Partners. The sale will include Forever 21’s namesake stores, Riley Rose beauty stores and its e-commerce platforms. In September 2019, Forever 21 filed for Chapter 11 bankruptcy protection and requested approval to close 178 US stores. The Children’s Place Relaunches Gymboree Children’s specialty retailer The Children’s Place has relaunched Gymboree. Gymboree apparel is now available on a new website and at shop-in-shop locations in more than 200 Children’s Place stores across the US and Canada. The retailer will also offer “My Place Rewards” loyalty program to all its customers who shop in-store and online. The new Gymboree e-commerce platform will offer free shipping and returns, with no minimum purchase for all online orders. In January 2019, Gymboree filed for bankruptcy and subsequently closed all its stores. In March 2019, Children’s Place acquired the rights of Gymboree and its Crazy 8 brand for $76 million. [caption id="attachment_103324" 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 Bed Bath & Beyond, Foot Locker, GNC, G-III Apparel and H&M 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_103325" 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, Casey’s, Dollar General, Foot Locker, Gap and H&Mamong others. Estimates for Bed bath & Beyond and Foot Locker are based on the existing proportion of stores in the US. Gap and Sephora openings refer 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_103326" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_103327" 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_103328" 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]    2020 Major US Retail Bankruptcies [caption id="attachment_103329" 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_103330" 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 421 store closures and 363 store openings. Our data represents closures and openings by calendar year.

What Is Happening This Week in the UK

Allbirds To Open Its Second UK Store

Eco-friendly footwear retailer Allbirds will open its second store in the UK on February 20, 2020. The store, located on Marylebone High Street, London, will showcase a Regent’s Park-themed store design. The retailer’s first UK store opened in Covent Garden in 2019.

Hawkin’s Bazaar Shuts Down All Stores

Gift and toy shop chain Hawkin’s Bazaar has closed all 18 stores after the weekend of February 2, 2020. During the closure process, the retailer offered up to 90% discounts at some of its stores. Hawkin’s Bazaar collapsed into administration on January 23, 2020 after it was unable to find a buyer. It had appointed Moorfields Advisory partners Tom Straw and Simon Thomas as joint administrators.

IKEA To Shut Coventry City Center Store

IKEA has announced that it will close its store in Coventry city center in 2020, with 352 employees facing uncertainty. The retailer said that the store saw lesser footfall than expected and made consistent losses. IKEA, which operates 22 stores in the UK, opened the Coventry city center store in 2007.

Non-Store-Closure News

Laura Ashley CEO To Resign

Laura Ashley has announced that its CEO and Executive Director Kwan Cheong Ng will step down from his role, effective April 30, 2020. He will remain on the board as Non-Executive Director after his retirement. The retailer’s current COO Katharine Poulter will succeed Ng as CEO and Executive Director, effective May 1, 2020.

[caption id="attachment_103331" 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.
Source: Company reports/Coresight Research [/caption]   [caption id="attachment_103332" 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]   [caption id="attachment_103333" align="aligncenter" width="700"] Source: Company reports/Coresight Research[/caption]   [caption id="attachment_103334" 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_103335" 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.