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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Harbor Freight Tools, LL Flooring, Rothy’s, Royal Farms, Save A Lot and Wawa. In light of these updates, our 2021 US closures and openings counts stand at 4,626 and 4,311, 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 25 of 2021, ended June 25, 2021, to closures and openings tracked up to week 26 of 2020, ended June 26, 2020. Year to date in 2021, major retailers have announced 41.8% more openings and 5.7% fewer closures compared to the same period in 2020. This week saw 2021’s first year-over-year decline in closures. 2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=236] 2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=237]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
Harbor Freight Tools To Open 46 Stores Home-improvement retailer Harbor Freight Tools has opened 12 stores year to date and plans to open 34 more in 2021. The company operates over 1,100 stores as of June 25, 2021. Rothy’s Opens One Store Footwear retailer Rothy’s opened one store in Chicago on June 21, 2021. The retailer began as an online store and focuses on footwear made from eco-friendly materials. The new location is the company’s sixth store. Royal Farms To Open Two Stores Convenience store chain Royal Farms plans to open two stores in New Jersey. The company did not disclose exact opening dates, stating that the stores are “coming soon.” The company operates 247 stores as of June 25, 2021. Save A Lot To Close One Store Discount supermarket chain Save A Lot plans to close its store in Wichita, Kansas, in July 2021. The company operates over 1,300 stores as of June 25, 2021. Wawa To Open 35 Stores Convenience store chain Wawa has opened three stores, year to date, and plans to open 35 more stores in 2021, according to its website. The company operates 903 stores as of June 25, 2021.Quarterly Store Openings/Closures Settlement
LL Flooring Provides Store-Count Update Floor-tiling retailer LL Flooring opened six and closed 15 stores in 2020. The company has opened five stores and closed one, in year-to-date 2021. It plans to open two more stores on June 28, 2021. The openings will take the company’s store count to 416.Non-Store-Closure News
Staples CEO Steps Down Alexander Douglas, CEO of office supplies retailer Staples, has stepped down, effective June 18, 2021. Douglas joined as CEO of Staples in April 2018. Executive Chairman John A. Lederer will take over as interim CEO while the company looks for a permanent replacement. 2021 Major US Store Closures and Openings [caption id="attachment_129007" 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_129008" 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 eight 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=1049]
Source: Company reports/Coresight Research
This week, we saw updates from LL Flooring, which changed our 2020 closures and opening counts to 9,419 and 3,371, respectively. [caption id="attachment_129009" 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_129010" 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=1050]
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=1051]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.Z N/A – Not Available Source: Company reports/Coresight Research
The UK
2021 Major UK Store Closures and Openings This week, we discuss updates for Abercrombie & Fitch, Disney, Kate Spade, Skechers and Suit Direct. In light of these updates, our 2021 UK closures and openings count increased to 1,296 and 744, 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 25 of 2021, ended June 25, 2021, to closures and openings tracked up to week 26 of 2020, ended June 26, 2020. Year to date in 2021, major UK retailers have announced 72.2% more openings and 19.5% fewer closures compared to the same time last year. 2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=238] 2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=239]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
Abercrombie & Fitch To Open London Flagship Store Apparel retailer Abercrombie & Fitch plans to open a flagship store in London in September 2021. The store will be located in the former Brooks Brothers store in Regent Street and will replace the company’s flagship store on Savile Row, whose closure was announced earlier this year and which will reportedly remain open until the Regent Street store opens. The opening will take the company’s store count in the UK to five. Disney Closes One Store Disney closed its Disney store in The Marlands Shopping Centre in Southampton. The store closure is the company’s second in 2021 and comes as part of the company’s plan to move away from physical retail and focus more on e-commerce. The closure takes the company’s store count in the UK to 37. Kate Spade To Open One Store Luxury fashion brand Kate Spade opened one store in the County Arcade shopping center in Leeds. The opening will take the company’s UK store count to 18. Skechers To Open One Store Footwear retailer Skecher plans to open one store in shopping center Victoria Centre in Nottingham in August 2021. The store will span 1,900 square feet and will take the company’s store count in the UK to 44. Suit Direct To Open Nine Stores Men’s formalwear retailer Suit Direct has opened one store in the Merry Hill Shopping Centre in Dudley and plans to open eight more in 2021. The store openings will take the company’s store count to 38.Non-Store-Closure News
Morrisons Rejects $7.7 Billion Takeover Bid Morrisons reportedly rejected a £5.5 billion ($7.7 billion) takeover bid from US-based private equity firm Clayton, Dubilier & Rice. Morrisons stated that the bid “significantly undervalued” the supermarket chain and that CD&R has until July 17, 2021, to announce a firm intention to make a further offer. [caption id="attachment_129013" 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_129014" 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.*Total includes a small number of retailers that each announced fewer than two store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=1054]
Source: Company reports/Coresight Research
[caption id="attachment_129015" 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[/caption] [caption id="attachment_129016" 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.