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The US
2021 Major US Store Closures and Openings This week, we discuss updates for 99 Ranch, At Home, Express, Five Below, Hibbett Sports, Hudson, Lululemon, QuickChek, and Tilly’s. In light of these updates, our 2021 US closures and openings counts stand at 4,537 and 4,197, 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 23 of 2021, ended June 11, 2021, to closures and openings tracked up to week 24 of 2020, ended June 12, 2020. Year to date in 2021, major retailers have announced 38.1% more openings and 12.4% more closures compared to the same period in 2020. 2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=228] 2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=229]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
99 Ranch Opens One Store Supermarket chain 99 Ranch opened a store in Chandler, Arizona on May 26, 2021. The store spans over 44,000 square feet and takes the company’s store count to 54. Hibbett Sports Opens Two Stores Sports retailer Hibbett Sports has opened two stores, one each in Richmond, Virginia and Tallahassee, Florida. The company operates 1,073 stores as of June 11, 2021. Hudson Opens One Store Travel retailer Hudson has opened its second contactless Hudson Nonstop store in Chicago Midway airport. The retailer operates more than 1,000 stores in airports, commuter hubs and tourist destinations as of June 11, 2021. QuickChek To Open Eight Stores Convenience store chain QuickChek plans to open eight to 10 stores in 2021, with six set to open in August. The company operates 158 stores as of June 11, 2021.Quarterly Store Openings/Closures Settlement
At Home Provides Store Count Update Home furnishing retailer At Home opened nine and closed two stores in its first quarter, ended May 1, 2021. The openings have already been tracked. The company operates 226 stores as of May 1, 2021. Express Provides Store Count Update Apparel retailer Express opened three and closed 51 stores in 2020, and has opened two and closed 17 stores year to date in 2021. The company operates 563 stores as of May 1, 2021. Five Below Provides Store Count Update Discount retailer Five Below opened 68 stores and closed 1 store in its first quarter, ended May 1, 2021. The openings have already been tracked. The company operates 1,087 stores as of May 1, 2021. Lululemon Updates Store Openings Plan Apparel retailer Lululemon updated its store openings target to 45–55 for its fiscal year, ending early February 2022. We estimate that 25 of these store openings will fall in the US in calendar 2021. The company operates 315 stores in the US as of May 2, 2021. Tilly’s Closes Two Stores Apparel retailer Tilly’s opened six and closed two stores in its first quarter, ended May 1, 2021. The company updated its store expansion plan to nine store openings in 2021. The company operates 238 stores as of May 1, 2021.Non-Store-Closure News
The Collected Group Exits Bankruptcy Apparel retailer The Collected group exited bankruptcy on June 7, 2021. The company shed $150 million in secured debt through a reorganization deal with a group of lenders that now have control of the company. The company closed all of its 33 stores when it entered bankruptcy in April 2021. 2021 Major US Store Closures and Openings [caption id="attachment_128429" 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 that its outlets would commonly be perceived as retail stores.*Total includes a small number of retailers that each announced fewer than seven store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_128430" 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. <>br*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] 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=1023]
Source: Company reports/Coresight Research
This week, we saw updates from Express, which changed our 2020 closures and openings counts to 3,365 and 9,399, respectively. [caption id="attachment_128431" 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 19 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_128432" 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 seven store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2021 Major US Retail Bankruptcies [wpdatatable id=1024]
N/A – Not Available *Belk emerged from bankruptcy in February 2021 **The Collected Group emerged from bankruptcy in June 2021 Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=1025]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 Bargain Buys, Gap, IKEA, Joseph, Kurt Geiger, Loake Shoemakers, The Range and TJ Hughes. In light of these updates, our 2021 UK openings and closures count increased to 699 and 1,291, 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 23 of 2021, ended June 11, 2021, to closures and openings tracked up to week 24 of 2020, ended June 12, 2020. Year to date in 2021, major UK retailers have announced 73.4% more openings and 16.7% fewer closures compared to the same time last year. 2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=230] 2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=231]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
Bargain Buys To Close One Store Discount store chain Bargain Buys plans to close its store in Taunton and has begun a closing down sale. The closure will take the company’s store count to 62. Gap To Close 19 Stores Apparel retailer Gap plans to close 19 stores across the UK and Republic of Ireland as its leases expire on July 31, 2021. The closures are a part of the company’s strategic review to operate as an online-only business in Europe. The company’s remaining 50 stores in the UK and Ireland are still under review and closures have not yet been announced. IKEA To Close One Store Furniture retailer IKEA plans to close its order and collection point store in Norwich in summer 2021. The company said that it plans to close the store as it had not met sales or profitability targets, despite investment. The company operates 24 stores in the UK as of June 11, 2021. Joseph Opens One Store Luxury apparel brand Joseph opened one store in the Icon Outlet at The O2 shopping center in London on June 7, 2021. The opening takes the company’s store count to 20. Kurt Geiger Opens One Carvela Store Apparel retailer Kurt Geiger opened a new Carvela brand store in Leeds on June 5, 2021, taking the Kurt Geiger store count to 53. Loake Shoemakers Opens One Store Shoe retailer Loake Shoemakers opened a new store in Brighton on June 6, 2021. The opening takes the company’s store count to 29. MaxiSaver To Open 20 Stores Variety retailer MaxiSaver opened eight stores between August 2020 and May 2021 and plans to open 20 further stores in 2021. The update takes the company’s 2020 and 2021 openings count to 4 and 24, respectively. The Range To Open Two Stores Discount home and leisure goods retailer The Range opened a new store in Skipton on June 4, 2021, and plans to open one store in Watford on June 25, 2021. The openings take the company’s store count to 193. TJ Hughes To Close One Store Discount department store chain TJ Hughes plans to close its store in Middlesbrough on June 12, 2021. The closure will take the company’s store count to 13.Non-Store-Closure News
The John Lewis Partnership Hires New Waitrose Retail Director The John Lewis Partnership, parent company of supermarket chain Waitrose, has hired Tina Mitchell as Retail Director for Waitrose, effective November 2021. Mitchell currently serves as Divisional Managing Director at supermarket chain Co-op. [caption id="attachment_128435" 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_128436" 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 Carvela stores. Source: Company reports/Coresight Research[/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=1028]
Source: Company reports/Coresight Research
[caption id="attachment_128437" 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 the Topshop and Topman banner stores. 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/em>[/caption] [caption id="attachment_128438" 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.