Nitheesh NH
The US
2021 Major US Store Closures and Openings This week, we discuss updates for Ashley HomeStore, Bashas’, Fresh Thyme, Hibbett Sports, Hy-Vee, Kmart, Valu Home Center, Watches of Switzerland and Whole Foods Market. In light of these updates, our 2021 US closures and openings counts stand at 4,631 and 4,437, 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 28 of 2021, ended July 16, 2021, to closures and openings tracked up to week 29 of 2020, ended July 17, 2020. Year to date in 2021, major retailers have announced 44.7% more openings and 12.8% fewer closures compared to the same period in 2020.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=250]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=251]
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
Ashley HomeStore To Open One Store Home furnishings retailer Ashley HomeStore opened one store at Upland Shopping Center in West Pottsgrove, Pennsylvania on July 10, 2021. The store spans 26,000 square feet and takes the company’s store count to 757. Bashas’ To Open One Store Grocery store chain Bashas’ plans to open one store in Shiprock, New Mexico, on July 21, 2021. The store will be located in a former City Market store and will span 42,000 square feet. The opening will take the company’s store count to 56. Fresh Thyme To Open One Store Grocery store chain Fresh Thyme plans to open one store in St. Louis, Missouri, in 2021. The opening will take the company’s store count to 71. Hibbett Sports Opens One Store Athleisure and footwear retailer Hibbett Sports plans to open one store in Tower Shopping Center in Raleigh, North Carolina, on July 17, 2021. The store will span 6,000 square feet and will take the company’s store count to 1,074. Hy-Vee To Open One Store Supermarket chain Hy-Vee plans to open one Dollar Fresh store in Orange City, Iowa, in late 2021. The store will span 29,000 square feet and will take the company’s store count to 305. Kmart Closes One Store Department store chain Kmart closed its store in Manhattan, New York, on July 12, 2021. The company operates 20 US stores as of July 16, 2021. Valu Home Center To Close Three Stores Home improvement retailer Valu Home Center plans to close three stores in 2021. The company will close its stores in Geneva and Hornell, New York, and one store in Springville, Utah. The closures will take the company’s store count to 33. Whole Foods Market Opens One Store Whole Foods Market opened one store in Tampa, Florida, on July 7, 2021. The store spans 48,000 square feet and takes the company’s store count to 507. The company announced plans in May 2021 to open 43 stores but did not specify the timeline of the openings. Watches of Switzerland Provides Store-Count Update Watches of Switzerland opened six stores in 2020 and has opened three, year to date in 2021. The company operates 13 stores in the US as of July 16, 2021.Non-Store-Closure News
Big Lots Appoints New CTO Discount retailer Big Lots appointed Gurmeet Singh as Chief Technology Officer on July 12, 2021. Singh previously served as Chief Digital Officer of Dubai-based retail conglomerate Al-Futtaim Group. Singh succeeds Stew Wenerstrom, who is set to retire in October 2021 after assisting with the transition. 2021 Major US Store Closures and Openings [caption id="attachment_130009" 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_130011" 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=1107]
Source: Company reports/Coresight Research
This week we saw updates from Watches of Switzerland, taking our 2020 openings count to 3,451. [caption id="attachment_130012" 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_130013" 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=1108]
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=1109]
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 B&M, Disney, Kutchenhaus, Majestic Wine, Poundstretcher, Route One, Shoe Zone and Watches of Switzerland. In light of these updates, our 2021 UK closures and openings counts increased to 1,377 and 760, 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 28 of 2021, ended July 16, 2021, to closures and openings tracked up to week 29 of 2020, ended July 17, 2020. Year to date in 2021, major UK retailers have announced 75.9% more openings and 23.8% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=252]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=253]
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
Boots Opens One New Store Pharmacy and beauty chain Boots has opened one new flagship store in Welwyn Garden City, which will primarily trial and sell Boots Hearingcare products. The new “World of Hearing” store includes immersion and experience rooms to help test hearing aids. The opening takes the company’s store count to 3,074. B&M Provides Store-Count Update Variety store retailer B&M European Value Retail opened 43 B&M stores and closed 18, and opened 17 Heron Foods stores and closed four in its fiscal year ended March 27, 2021. The update takes B&M’s calendar 2020 openings and closures counts to 45 and 18, respectively, and its calendar 2021 openings and closures counts to 11 and five, respectively. Additionally, the update takes Heron Food’s 2020 openings and closures counts to 18 and five, respectively, and its 2021 openings and closures counts to four and one, respectively. The company operates 681 B&M stores and 306 Heron Foods stores as of March 27, 2021. Disney To Close Two Stores Disney plans to close its one store in Chester and one in York on July 17, 2021. The store closures are part of the company’s plan to move away from physical retail and focus more on e-commerce. The store closures will take the company’s store count in the UK to 35. Kutchenhaus To Open Six Stores Kitchen retailer Kutchenhaus opened two stores, one in Mansfield and one in Bournemouth, and plans to open four more in 2021—one each in Basingstoke, Eltham, West Byfleet and Worcester. The openings will take the company’s store count to 47. Majestic Wine Opens One Store Wine retailer Majestic Wine has opened one store in Knutsford, Cheshire. The opening takes the company’s year-to-date openings to four and its store count to 201. Poundstretcher To Open One Store Discount retailer Poundstretcher opened a store in Ellesmere Port, Cheshire, on July 14, 2021. The openings take the company’s year-to-date openings to nine and its store count to 374. Route One Opens One Store Streetwear apparel retailer Route One opened one store in London on July 13, 2021. The store spans 2,000 square feet and is the company’s fifth store in the UK. Shoe Zone To Close One Store Footwear retailer Shoe Zone plans to close its store in Kingsway Shopping Centre in Newport. The company did not provide a closure date. The closure will take the company’s store count to 67. Watches of Switzerland Provides Store-Count Update Watch retailer Watches of Switzerland opened nine stores and closed 10 in 2020, and opened three stores and closed three year to date in 2021. The company operates 118 stores in the UK as of July 16, 2021.Non-Store-Closure News
Cath Kidston Appoints New Chief Commercial Officer Home furnishing retailer Cath Kidston appointed Suzanne Egleton as Chief Commercial Officer, effective July 12, 2021. Egleton most recently served as Chief Digital and Marketing Director at premium fashion brand AllSaints. [caption id="attachment_130016" 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_130017" 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=1112]
Source: Company reports/Coresight Research
This week we saw updates from B&M and Watches of Switzerland, which changed our 2020 closures and openings counts to 2,693 and 505, respectively. [caption id="attachment_130018" 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_130019" 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.