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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Camping World, Carter’s, Dyson, Ethan Allen, L.L. Bean, Murphy USA, Under Armour, Vince Holding and WHSmith. In light of these updates, our 2021 US openings and closure counts stand at 3,831 and 3,560, 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 18 of 2021, ended May 7, 2021, to closures and openings tracked up to week 19 of 2020, ended May 8, 2020. Year to date in 2021, major retailers have announced 53.5% more openings and 56.8% more closures compared to the same time last year. 2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=206] 2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=207]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
Dyson Opens One Store Appliances brand Dyson has opened a “demo” concept store in Santa Clara, California. The new store is the company’s fifth in the US. L.L. Bean To Open Three Stores Apparel retailer L.L. Bean plans to open three new stores in the US. The openings will take the company’s US store count to 56. Murphy USA Acquires QuickChek Gas station and convenience store chain Murphy USA has acquired convenience store chain QuickChek. QuickChek operates 156 stores in central and northern New Jersey and the New York metropolitan area. The acquisition takes Murphy USA’s store count to 1,660 as of March 31, 2021. We account for the acquisitions as 156 closures for QuickChek and 156 openings for Murphy USA in our respective totals and charts. WHSmith To Open 68 Stores UK-based stationery and book retailer WHSmith plans to open 100 travel stores worldwide, with 68 stores set to open in the US and the rest in Australia, Europe and the UK. We expect these store openings to occur this year, taking the company’s 2021 store count in North America to over 340 stores.Quarterly Store Openings/Closures Settlement
Carter’s Closes 60 Stores Children’s apparel retailer Carter’s closed 60 stores in its first quarter, ended April 3, 2021. The closures are already tracked as part of the company’s plan to close 115 stores by the end of 2021. The company operates 804 stores as of April 3, 2021. Camping World Opens Five Stores Outdoor equipment retailer Camping World has opened a net five stores in its first quarter, ended March 31, 2021. The retailer operates 176 stores as of March 31, 2021. Ethan Allen Opens a Store Home and office retailer Ethan Allen opened one store in its first quarter, ended March 31, 2021. The company operates 139 stores as of March 31, 2021. Vince Holding Opens Three Stores Luxury retail group Vince Holding opened three stores in its fiscal year ended January 30, 2021, and these have been charted in the 2020 openings count. The company operates 71 stores as of January 30, 2021. Under Armour Closes Two Stores Apparel retailer Under Armour closed a net total of two stores in its first quarter, ended March 31, 2021. The company operates 176 Factory House stores and 16 Brand House stores as of March 31, 2021.Non-Store-Closure News
Gap To Sell Intermix Apparel retailer Gap has entered into an agreement to sell its Intermix business to private equity firm Altamont Capital Partners. The deal will include the entire Intermix business, including all store leases, assets and e-commerce. Intermix operates 31 stores and an e-commerce site as of May 7, 2021. 2021 Major US Store Closures and Openings [caption id="attachment_126902" 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_126903" 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=913]
Source: Company reports/Coresight Research
This week, we saw updates from Carter’s and Vince Holding, which changed our 2020 closures and openings counts to 9,353 and 3,370, respectively. [caption id="attachment_126904" 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_126905" 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=914]
N/A – Not Available *Belk emerged from bankruptcy in February 2021 Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=915]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 Flannels, Harrods, Jack Wills, Sports Direct, Tommy Hilfiger and WHSmith. In light of these updates, our 2021 UK openings and closures increased to 462 and 1,209, 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 18 of 2021, ended May 7, 2021, to closures and openings tracked up to week 19 of 2020, ended May 8, 2020. Year to date in 2021, major UK retailers have announced 15.8% more openings and 14.8% fewer closures compared to the same time last year. 2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=208] 2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=209]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 Group Provides Store Updates for Its Banners Frasers Group has announced expansion plans for its premium apparel banner Flannels, which include the opening of three flagship stores in 2021 and a minimum of 10 regional stores every year for an undisclosed period. The flagship stores are set to open at Meadowhall Shopping Centre, Sheffield, in June/July, at Fosse Park in Leicester in July/August and in Liverpool in November. Frasers Group also plans to close its Jack Wills store in Chester in May 2021. The company has signed a lease for a Sports Direct store on the former Debenhams store plot in Galway’s Corrib Shopping Center and stated that it plans to open more Sports Direct stores in the UK and Ireland. The company operates 10 Flannels stores and 59 Jack Wills stores in the UK and 542 Sports Direct stores in the UK and Ireland, as of May 7, 2021. Harrods Opens a Store Department store chain Harrods opened its second H Beauty store on April 29, 2021. The store spans 29,000 square feet and is located in the Centre:MK shopping center in Milton Keynes. Tommy Hilfiger Opens a Store Apparel retailer Tommy Hilfiger opened a new store at Lakeside Shopping Center in Thurrock. The store spans over 2,400 square feet and takes the company’s store count to 37 in the UK. WHSmith Considers Acquisition of Dixons Carphone Stores WHSmith plans to open 32 travel stores in Australia, Europe and the UK. We estimate that 26 of these will open in the UK. The company closed seven stores in the first half of its fiscal year, ended February 28, 2021, and expects to close 18 more in the second half. The update takes our 2020 and 2021 closure counts to five and 20, respectively. Separately, the company is reportedly considering taking over Dixons Carphone’s airport stores. Dixons Carphone had announced that it would close its 35 travel stores in April 2021. WHSmith’s CEO Carl Cowling said Dixons Carphone’s exit from the travel retail sector was another opportunity to roll out InMotion, the US gadget chain it acquired in 2018. WHSmith operates 580 travel stores in the UK as of May 7, 2021. [caption id="attachment_126908" 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_126909" 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=918]
Source: Company reports/Coresight Research
[caption id="attachment_126913" 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_126911" 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.