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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Ahold Delhaize, Casey’s, Floor & Décor, Fossil Group, Hurley, Meijer, Ollie’s Bargain Outlet, Sundance Catalog, The Home Depot, Whole Foods Market and Windsor Fashion. In light of these updates, our 2021 US closures and openings counts stand at 4,273 and 4,065, 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 20 of 2021, ended May 21, 2021, to closures and openings tracked up to week 21 of 2020, ended May 22, 2020. Year to date in 2021, major retailers have announced 58.5% more openings and 26.8% more closures compared to the same time last year. 2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=214] 2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=215]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
Casey’s Acquires Bucky’s Convenience Stores Convenience store chain Casey’s has acquired rival chain Bucky’s Convenience Stores for $580 million. Casey’s will add all 94 stores from the chain to its portfolio which will now consists of 2,336 stores. The acquisition comes as part of Casey’s store expansion plans to increase its number of stores by 350 by the end of 2022. We account for the acquisitions as 94 closures for Bucky’s Convenience Stores and 94 openings for Casey’s in our respective totals and charts. The update takes Casey’s openings count for 2021 to 160. Floor and Décor To Open 11 stores Flooring retailer Floor & Décor has opened eight stores in 2021 and plans to open three more by the end of the year. The new stores will be located in Fresno, California; Tulsa, Oklahoma; and Greenwood, Indiana. The new openings will take the company’s store count to 144 stores. Hurley Opens One New Store Swimwear retailer Hurley opened one new store in New Jersey on May 7, 2021. The store spans 2,500 square feet and takes the company’s store count to 37. Meijer Opens Three Stores Grocery retailer Meijer has opened three stores. The new stores are located in Seven Hills and Boardman, Ohio, and Westfield, Indiana. They average 155,000 square feet each. The new openings take Meijer’s store count to 257. Sundance Catalog To Open Three Stores Lifestyle retailer Sundance Catalog has opened one store in Westport, Connecticut and plans to open two more by the end of 2021. The openings will take the company’s store count to 20. Whole Foods Market To Open 40 Stores Amazon-owned grocery retailer Whole Foods Market has announced plans to open 40 stores. The stores have not been charted as the timeline of the openings have not been confirmed. The retailer operates 506 stores in the US as of May 21, 2021. Windsor Fashion To Open 150 Stores Apparel retailer Windsor Fashion plans to open 150 stores by the end of 2022. We estimate that 75 of these stores will open in calendar 2021. The company operates over 230 stores in the US as of May 21, 2021.Quarterly Store Openings/Closures Settlement
Ahold Delhaize Provides Store Count Update Grocery retailer Ahold Delhaize opened five stores and closed eight in 2020 and acquired 58 stores from Southeastern Grocers in its first quarter, ended April 4, 2021. We account for the acquisitions as 58 closures for Southeastern Grocers and 58 openings for Ahold Delhaize in our respective totals and charts. Ahold Delhaize operates 2,028 stores across its banners, as of April 4, 2021. Fossil Group Closes 15 Stores Accessories retailer Fossil Group closed a net 15 stores in North America its first quarter, ended April 3, 2021. The company operates 170 stores in North America as of April 3, 2021. Ollie’s Bargain Outlet To Open 50 Stores Discount retailer Ollie’s Bargain Outlet plans to open 50 stores in its fiscal year ending early February 2022. We estimate that 46 of these stores will open in calendar 2021. The update takes the retailer’s openings count for 2021 to 49. The company operates 400 stores as of May 21, 2021. The Home Depot Opens a Store Home-improvement retailer The Home Depot has opened a store in its first quarter, ended May 2, 2021. The company operates 2,298 stores as of May 2, 2021.Non-Store-Closure News
Ralph Lauren To Sell Club Monaco Apparel retailer Ralph Lauren plans to sell its Club Monaco brand to private equity firm Regen for an undisclosed amount. The deal is expected to close by the end of June 2021. 2021 Major US Store Closures and Openings [caption id="attachment_127525" 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, Fossil Group, Gap, Michael Kors Tapestry, 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. Tapestry includes Coach, Kate Spade and Stuart Weitzman stores. 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 four store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_127526" 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 five 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=969]
Source: Company reports/Coresight Research
This week, we saw updates from Ahold Delhaize, which changed our 2020 closures and openings counts to 9,393 and 3,380, respectively. [caption id="attachment_127527" 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_127528" 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=970]
N/A – Not Available *Belk emerged from bankruptcy in February 2021 Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=971]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 Amazon, B&M, Co-op, Cravela, Happy Socks, Havaianas, Mamas & Papas, Mere, Oliver Bonas, Shoe Zone, Sofology and Wren Kitchens. In light of these updates, our 2021 UK closures and openings counts increased to 1,257 and 641, 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 20 of 2021, ended May 21, 2021, to closures and openings tracked up to week 21 of 2020, ended May 22, 2020. Year to date in 2021, major UK retailers have announced 60.7% more openings and 12.0% fewer closures compared to the same time last year. 2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=216] 2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=217]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
Amazon Opens One Store Amazon opened its fourth Amazon Fresh store in the UK, in London. The store spans 2,500 square feet and is located in Canary Wharf. B&M To Close One Store Variety store chain B&M will close one store in Lincolnshire. The store is set to close on May 29, 2021 but will result in no job losses as the employees will be moving to other stores in the area. B&M operates over 600 stores in the UK as of May 21, 2021. Kurt Geiger, Happy Socks and Havaianas To Open in Trafford Center Carvela, a brand under footwear retailer Kurt Geiger, sock brand Happy Socks and flip-flop retailer Havaianas are each set to open stores in The Trafford Centre shopping center in Manchester, England. As of May 21, 2021, Happy Socks operates nine stores in the UK, Havaianas operates 15 and Kurt Geiger operates 52. Co-op Provides Store Count Update Supermarket chain Co-op opened 56 stores in its latest fiscal year, ended January 3, 2021 and plans to open 85 stores in 2021. The company operates 2,613 stores as of January 3, 2021. Home Bargains To Open 50 Stores in 2021 Discount retailer Home Bargains plans to grow its store count to 1,000, aiming for 50 store openings a year until it reaches its target. The company operates 531 stores as of May 21, 2021. Mamas & Papas Opens Two Stores Baby products retailer Mamas & Papas has opened two new stores in Brent Cross Shopping Centre in London and Central Milton Keynes shopping center in Milton Keynes. The openings take the company’s store count to 26. Mere To Open 26 Stores Russia-based supermarket chain Mere plans to open 26 stores across the UK, with the first four to open in the coming months. Oliver Bonas To Open One Store Apparel and accessories retailer Oliver Bonas plans to open one store in Bond Street shopping center in Chelmsford. The store spans 4,000 square feet and takes company’s store count to 78 in the UK and Republic of Ireland. Shoe Zone Provides Store Count Update Shoe retailer Shoe Zone closed 38 stores in the six months ended April 3, 2021. The update takes our 2020 and 2021 closure counts to 39 and 19, respectively. The company operates 422 stores in the UK as of April 3, 2021. Sofology To Open One Store Furniture retailer Sofology plans to open one store in Swindon on May 29, 2021. The new store spans 18,000 square feet and will take the company’s store count to 49. Wren Kitchens Opens One Store Fitted-kitchens retailer Wren Kitchens opened one store in Durham on May 14, 2021. The store spans 15,000 square feet and takes the company’s store count to 105.Non-Store-Closure News
Amanda Wakeley Falls into Administration Apparel retailer Amanda Wakeley has fallen into administration on May 14, 2021. The company has appointed Clare Lloyd and Colin Hardman of accountancy firm Smith & Williamson as joint administrators. The company faced financial troubles after its stores were forced to close earlier in the year. It appointed Smith & Williamson to conduct a review of its business and started seeking buyers but has been placed into administration after failing to find any. [caption id="attachment_127532" 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_127533" 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. Kurt Geiger includes Kurt Geiger and Carevela stores.Source: Company reports/Coresight Research[/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=974]
Source: Company reports/Coresight Research
This week, we saw updates from Co-op and Shoe Zone, which changed our 2020 closures and openings counts to 2,673 and 465, respectively. [caption id="attachment_127534" 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_127535" 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. Figures represent retail closures (i.e., B2C), so closures by solely B2B companies are excluded.