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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Foot Locker, Office Depot and Roche Bros. In light of these updates, our 2021 US openings and closures counts stand at 3,582 and 3,236, respectively. The charts below depict the week-by-week totals of announced US store closures and openings year to date in 2021 and 2020. For year-over-year comparisons, we are comparing closures and openings up to week 15 of 2021, ended April 16, 2021, to closures and openings tracked up to week 16 of 2020, ended April 17, 2020. Year-to-date in 2021 major retailers have announced 45.3% more openings and 49.4% more closures compared to the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=192]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=193]
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
Roche Bros Opens One Supermarket Supermarket chain Roche Bros has opened a new supermarket in Watertown, Massachusetts. The store spans 24,000 square feet and features an outdoor café. The company operates 22 supermarkets as of April 15, 2021.Quarterly Store Openings/Closures Settlement
Foot Locker Provides Store Count Update Footwear and apparel retailer Foot Locker closed 163 stores and opened 41 stores across its Champs, Footaction, Foot Locker, Kids Foot Locker, Lady Foot Locker and Runners Point banners in the US in its latest fiscal year, ended January 30, 2021. The update takes our 2020 openings and closure counts to 37 and 148, respectively, and we have changed our 2021 openings and closure counts to four and 15, respectively. The retailer operates 539 Champs stores, 240 Footaction stores, 848 Foot Locker stores, 422 Kids Foot Locker stores and 35 Lady Foot Locker stores in the US as of January 30, 2021. Office Depot Closes 153 Stores The ODP corporation, parent company of Office Depot, closed 153 stores in its latest fiscal year, ended December 26, 2020. The retailer operates 1,154 stores as of January 30, 2021.Non-Store-Closure News
Urban Outfitters Hires New Anthropologie CEO Apparel retailer Urban Outfitters has hired Tricia D. Smith as global CEO of Anthropologie. Smith replaces Hillary Super who served as CEO for two years and stepped down on April 9, 2021. Smith most recently served as VP and Chief Merchandising Officer at apparel retailer Tilly’s. 2021 Major US Store Closures and Openings [caption id="attachment_125914" align="aligncenter" width="720"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for American Eagle, Bed Bath & Beyond, Children’s Place, Express, Gap, GNC, Godiva, Heritage Brands, JCPenney, H&M, L'Occitane, Michael Kors, Office Depot, RTW Retailwinds and Vitamin Shoppe, among others. Estimates for Banana Republic, Bed Bath & Beyond, Build-A-Bear, Chico’s, Gap, Michael Kors and Signet Jewelers closures pertain to North America closures. Macy’s includes Macy’s and Bloomingdale’s banners. Ascena Retail Group includes Justice, Catherines, Ann Taylor, Lane Bryant, LOFT and Lou & Grey. Family Video, which operates primarily under a rental business model, is included in the chart since it also retails certain products and for comprehensiveness, given its outlets would commonly be perceived as retail stores.*Total includes a small number of retailers that each announced fewer than two store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_125915" align="aligncenter" width="720"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for Aerie, Aldi, Casey’s, Dollar General, Dollar Tree, Lidl, Madison Reed and Payless, among others. Aerie, Bed Bath & Beyond, Chico’s, Michaels Old Navy and Signet Jewelers openings pertain to North America openings. TJX Companies includes Marmaxx (T.J. Maxx and Marshalls), HomeGoods, Sierra, and Homesense stores.Aerie includes Aerie stores and OFFLINE stores. Amazon includes Amazon Fresh and Amazon Go Stores.
*Total includes a small number of retailers that each announced fewer than four store openings and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2021 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=870]
Source: Company reports/Coresight Research
Following this week’s updates for Foot Locker and Office Depot, we have changed our 2020 US openings and closure counts to 3,362 and 9,367, respectively. [caption id="attachment_125916" align="aligncenter" width="720"]
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 Group 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 18 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_125917" align="aligncenter" width="720"]
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, and Under Armour 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 six store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2021 Major US Retail Bankruptcies [wpdatatable id=871]
N/A – Not Available *Belk emerged from bankruptcy in February 2021 Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=872]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
The UK
2021 Major UK Store Closures and Openings This week, non-essential retailers were allowed to reopen as lockdown restrictions eased in England and Wales on April 12, 2021, with reopenings likely to follow in Northern Ireland and Scotland later this month. We discuss new store updates for Frasers Group, Gym+Coffee, Kurt Geiger, Monsoon Accessorize, No Chaos, The Original Factory Shop and Zara. Our 2021 UK openings increased to 410 this week and our closure count remains unchanged at 1,169. The charts below depict the week-by-week totals of UK store closures and openings year to date in 2021 and 2020. For year-over-year comparisons, we are comparing closures and openings up to week 15 of 2021, ended April 16, 2021, to closures and openings tracked up to week 16 of 2020, ended April 17, 2020. Year-to-date in 2021 major UK retailers have announced 2.7% more openings and 4.9% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=194]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=195]
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 UK
Frasers Opens a New Store Retail group Frasers opened a new Frasers department store in Wolverhampton on April 12, 2021. Spanning 34,000 square feet, the store is located in the Mander Shopping Centre, along with the company’s Flannels and Sports Direct stores. The company operates 53 department stores as of April 16, 2021. Gym+Coffee To Open New Store in Manchester Athleisure brand Gym+Coffee is set to open one new store in Manchester on April 17, 2021. The store spans 1,500 square feet and takes the company store count to seven. Kurt Geiger Opens Nine New Stores Luxury footwear retailer Kurt Geiger opened nine new stores along with the reopening of its existing stores on April 12, 2021. The new stores are located in Bridgend, Brixton, Cannock, Chester Oaks, Selby, Swindon and Westfield Stratford City, as well as two new stores in Leeds. The openings take the company’s store count to 131. Monsoon Accessorize Opens One New Store Apparel retailer Monsoon Accessorize opened a new Monsoon concept store in London on April 12, 2021. The store spans 1,200 square feet and is the first of the new concept store openings planned by the company for 2021. The retailer operates 156 stores across the UK as of April 16, 2021. No Chaos Opens Flagship Store Independent skate shop No Chaos has opened a flagship store in London. The store spans over 2,000 square feet across two floors, with the ground floor dedicated to retail and the basement hosting a concept space by apparel brand Scum. The Original Factory Shop To Open 50 Stores Discount department store chain The Original Factory Shop has announced plans to open 50 stores across three years. The expansion plan follows the recent launch of the retailer’s e-commerce site. The Original Factory Shop stated that it plans to finance its new growth plan through “strong” cashflow generation and a new flexible credit facility. We estimate that 13 of these store openings will fall in calendar 2021. The company operates 167 stores as of April 16, 2021. Zara To Open One New Store Apparel retailer Zara has announced plans to open a new store in Cardiff this summer. The store will span 36,500 square feet and will take Zara’s store count in the UK to 70.Non-Store-Closure News
New Look Hires New Technology Officer Apparel retailer New Look has hired Ed Alford to serve in the company’s newly created role of Chief Technology Officer, effective April 12, 2021. Alford most recently served as Vice President and Chief Information Officer for Digital Transformation at oil and gas company BP. [caption id="attachment_125920" align="aligncenter" width="720"]
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 Arcadia Group, Argos, Edinburgh Woollen Mill, Jaeger, Marks & Spencer, Office, Ponden Home, Sainsbury’s, Truworth and WHSmith. McColl’s includes convenience stores and newsagents. Arcadia Group includes 21 Outfit stores and 10 other stores that have not yet been disclosed.Source: Company reports/Coresight Research[/caption] [caption id="attachment_125921" align="aligncenter" width="720"]
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, B&M, Flannels, Heron Foods, JYSK, Lidl, Planet Organic and Screwfix.Source: Company reports/Coresight Research[/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=875]
Source: Company reports/Coresight Research
[caption id="attachment_125922" align="aligncenter" width="720"]
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, Marks & Spencer, Sainsbury’s, Truworth and WHSmith. Arcadia Group 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 so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_125923" align="aligncenter" width="720"]
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, Marks & Spencer and Sainsbury’s. Card Factory is based on the proportion of net existing stores in the UK.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.