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The US
2021 Major US Store Closures and Openings This week, we discuss updates for L&L Wings, Skechers, Sleep Number and Tractor Supply Company. In light of these updates, our 2021 US opening and closure counts stand at 3,597 and 3,395, 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 17 of 2021, ended April 30, 2021, to closures and openings tracked up to week 18 of 2020, ended May 1, 2020. Year to date in 2021, major retailers have announced 45.5% more openings and 55.0% more closures compared to the same time last year. 2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=200] 2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=201]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
L&L Wings Files for Bankruptcy Beachwear retailer L&L Wings filed a petition for relief under Chapter 11 of the Bankruptcy Code on April 24, 2021. The company filed for bankruptcy to appeal a judgment entered against it for $16 million. It will likely be forced to liquidate its assets if the judgment against it is enforced and executed. The company operates 26 stores. The store closures are not charted as a resolution to the judgement has not been reached.Quarterly Store Openings/Closures Settlement
Skechers Opens Six Stores Footwear retailer Skechers opened six stores and closed 17 stores in the US in its first quarter, ended March 31, 2021. (The closures have already been tracked in our store-count totals.) The company operates 512 stores in the US as of March 31, 2021. Sleep Number Closes Six Stores Home and office retailer Sleep Number opened 11 and closed six stores in its first quarter, ended April 3, 2021. (The openings have already been tracked in our store-count totals.) The company operates 607 stores as of April 3, 2021. Tractor Supply Company Provides Store-Count Update Home and office retailer Tractor Supply Company opened 21 Tractor Supply Company and two Petsense stores and closed seven Petsense stores in its first quarter, ended March 27, 2021. (The openings have already been tracked in our store-count totals, as part of the company’s expansion plan for the fiscal year.) The retailer operates 1,944 Tractor Supply Company stores and 177 Petsense stores as of March 27, 2021.Non-Store-Closure News
Lidl Appoints New CEO Grocery chain Lidl has appointed Michal Lagunionek as CEO of Lidl US, effective June 2021. Lagunionek will take over from Johannes Fieber, who is resigning in May 2021 after serving three years as CEO. Lagunionek is currently serving as a member of the retailer’s Board of Directors and has overseen the US division since the summer of 2020. 2021 Major US Store Closures and Openings [caption id="attachment_126596" 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_126597" 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=896]
Source: Company reports/Coresight Research
[caption id="attachment_126598" 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_126599" 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] Major US Retail Bankruptcies [wpdatatable id=897]
N/A – Not Available *Belk emerged from bankruptcy in February 2021 Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=898]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 we discuss updates for Dixons Carphone, Frasers Group, Free People and Ralph Lauren. In light of these updates, our 2021 UK openings and closures increased to 423 and 1,205, respectively. 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 17 of 2021, ended April 30, 2021, to closures and openings tracked up to week 18 of 2020, ended May 1, 2020. Year to date in 2021, major UK retailers have announced 6.0% more openings and 8.7% fewer closures compared to the same time last year. 2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=202] 2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=203]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
Dixons Carphone To Close All Airport Stores Electronics retailer Dixons Carphone has announced plans to close all 35 of its Dixons Travel airport stores in the UK. The company has decided to close its stores months after the termination of the scheme that allowed VAT-free shopping for overseas tourists. The company stated that it does not expect passenger numbers to recover sufficiently to compensate for the UK government’s removal of airside tax-free shopping. Frasers Group Opens New Store and Will Close London Store Frasers Group has opened a new Cruise flagship store in Glasgow and announced plans to close its House of Fraser store in Victoria, central London this summer. The company operates 53 House of Fraser department stores and four Cruise stores as of April 30, 2021. Free People Opens London Store Apparel retailer Free People (owned by Urban Outfitters) opened a store in London on April 12, 2021. The new store is the company’s fifth in the UK. Ralph Lauren Opens London Flagship Store Apparel retailer Ralph Lauren opened a flagship store in London on April 23, 2021. The store spans over 4,200 square feet and takes the company’s store count in the UK to 22.Non-Store-Closure News
Yours Clothing To Open Shop-in-Shop Locations in Tesco Apparel retailer Yours Clothing has partnered with Tesco to open shop-in-shop locations in two Tesco stores. The first will open in the Tesco supermarket at the Serpentine Green Shopping Center in Southern Peterborough, on April 30, 2021. The second shop-in-shop will open in Walsall in May 2021. These stores are not charted as we do not track shop-in-shops. [caption id="attachment_126602" 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_126603" 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=901]
Source: Company reports/Coresight Research
[caption id="attachment_126604" 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 seven store openings and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_126605" 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.