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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Market Basket, Rally House, Rite Aid and Torrid. In light of these updates, our 2021 US closures and openings counts stand at 4,627 and 4,428, 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 27 of 2021, ended July 9, 2021, to closures and openings tracked up to week 28 of 2020, ended July 10, 2020. Year to date in 2021, major retailers have announced 44.7% more openings and 11.9% fewer closures compared to the same period in 2020. 2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=246] 2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=247]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
Market Basket To Open One Store Supermarket chain Market Basket plans to open one store in Johnston, Iowa, in August 2021. The store will span 80,000 square feet and will take the company’s store count to 88. Rally House To Open 29 Stores Apparel retailer Rally House opened nine stores in 2020 and has opened 14 stores year to date in 2021. The company plans to open 15 more stores by the end of the year. It operates 103 stores as of July 9, 2021. Torrid Plans To Open 25 Stores Apparel retailer Torrid plans to open 25 stores annually for the next few years, beginning in 2021. The stores will average around 3,000 square feet. The company operates 608 stores as of July 9, 2021.Quarterly Store Openings/Closures Settlement
Rite Aid Provides Store-Count Update Drugstore chain Rite Aid opened 67 stores and closed 17 in 2020. The company has opened one store and closed eight in year-to-date 2021. The company operates 2,506 stores as of July 9, 2021.Non-Store-Closure News
Amazon CEO Steps Down Jeff Bezos, CEO and Founder of Amazon, officially stepped down from his role on July 5, 2021, becoming Executive Chairman of Amazon’s Board. Andy Jassy, formerly Chief Executive of Amazon Web Services, has taken over as CEO. [caption id="attachment_129681" align="aligncenter" width="700"]
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 eight store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_129682" align="aligncenter" width="700"]
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 10 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=1093]
Source: Company reports/Coresight Research
This week we saw updates from Rally House and Rite Aid, which changed our 2020 closures and openings counts to 9,436 and 3,445, respectively. [caption id="attachment_129683" align="aligncenter" width="700"]
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_129684" align="aligncenter" width="700"]
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 eight store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2021 Major US Retail Bankruptcies [wpdatatable id=1094]
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=1095] [wpdatatable id=1094]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 Baggage Factory, Hema, One Below, Pandora, Reiss, Shoe Zone, Wickes and Zara. In light of these updates, our 2021 UK closures and openings count increased to 1,366 and 758, 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 27 of 2021, ended July 9, 2021, to closures and openings tracked up to week 28 of 2020, ended July 10, 2020. Year to date in 2021, major UK retailers have announced 75.5% more openings and 18.9% fewer closures compared to the same time last year. 2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=248] 2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=249]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
Baggage Factory To Open One Store Luggage retailer Baggage Factory plans to open one store in Doncaster in July 2021. The store will be located in the Lakeside Village outlet shopping center and will span 1,900 square feet. The opening will take the company’s store count to 19. Hema To Close All Six Stores Dutch variety-store chain Hema plans to close all six of its stores in the UK by the end of summer 2021. The company said the decision came as it places a stronger focus on its core markets. One Below Opens Three Stores Discount retailer One Below has opened three stores year to date. The company opened one store in Selby in March, one in Warrington in April and one in Merseyside on July 9, 2021. The openings take the company’s store count to 71. Pandora Closes One Store Jewelry retailer Pandora closed its store in the Portland Walk Shopping Centre in Barrow-in-Furness, Cumbria, on July 1, 2021. The closure takes the company’s store count to 106. Reiss Opens One Store Apparel retailer Reiss has opened one store in London at St Pancras International railway station. The store spans 1,650 square feet and takes the company’s store count to 112. Shoe Zone Opens One Store Footwear retailer Shoe Zone opened one store in The Moor shopping center in Sheffield on July 3, 2021. The opening takes the company’s store count to 68. Wickes Opens One Store Home-improvement retailer Wickes opened one store in Sunderland on July 2, 2021. The store span 25,000 square feet and takes the company’s store count to 233. Zara Opens One Store Apparel and accessories retailer Zara opened one flagship store in Edinburgh on July 2, 2021. The store spans 38,000 square feet over three floors in the St James Quarter shopping center. The opening takes the company’s store count to 71 in the UK.Non-Store-Closure News
Gymshark Founder To Return as CEO Fitness apparel retailer Gymshark announced that Co-Founder Ben Francis will return to the role of CEO on August 1, 2021. Francis will replace Steve Hewitt, who took over as CEO in 2017 when Francis decided to step down from the position and become the company’s Chief Brand Officer. Hewitt will remain at the company in an advisory role. [caption id="attachment_129687" align="aligncenter" width="700"]
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. Gap includes Republic of Ireland.Source: Company reports/Coresight Research[/caption] [caption id="attachment_129688" align="aligncenter" width="700"]
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=1098]
Source: Company reports/Coresight Research
[caption id="attachment_129689" align="aligncenter" width="700"]
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_129690" align="aligncenter" width="700"]
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.