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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Ashley HomeStore, Fendi, Foxtrot Market, Hibbett, Kroger, Sheetz, Sleep Number, Sportsman’s Warehouse, Tractor Supply Company, Trader Joe’s and Vera Bradley. In light of these updates, our 2021 US closures and openings counts stand at 4,650 and 4,457, 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 29 of 2021, ended July 23, 2021, to closures and openings tracked up to week 30 of 2020, ended July 24, 2020. Year to date in 2021, major retailers have announced 45.1% more openings and 12.7% fewer closures compared to the same period in 2020.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=254]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=255]
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 Opens One Store Home-furnishings retailer Ashley HomeStore opened one store in Flint, Michigan, on July 16, 2021. The store spans 26,000 square feet and takes the company’s store count to 758. Fendi Opens One Store Luxury brand Fendi opened one flagship store in New York City on July 16, 2021. The new store spans 6,900 square feet over two floors and takes the company’s US store count to 49. Foxtrot Market To Open 50 Stores Convenience store chain Foxtrot Market plans to open 50 stores over the next two years. The retailer’s expansion plan builds on previous plans announced in March 2021, after the company received $42 million in funding. We estimate that the update will take the company’s openings count for 2021 to 24. The company operates 10 stores as of July 23, 2021. Hibbett Sports Opens One Store Athleisure and footwear retailer Hibbett Sports plans to open one store in Cedar, Texas, on July 24, 2021. The store will span 9,000 square feet and will take the company’s store count to 1,075. Kroger To Close Three Stores Grocery store chain Kroger plans to close three stores in Arkansas by the end of July 2021. The stores are located in Morrilton, DeWitt and England. The company operates around 2,750 stores as of July 23, 2021. Sheetz Opens One Store Convenience store chain Sheetz opened one store in Columbus Pike, Ohio, on July 16, 2021. The company operates 625 stores in six states as of July 23, 2021. Sportsman’s Warehouse Opens One Store Outdoor sporting goods retailer Sportsman’s Warehouse opened one store in Grand Island, Nebraska, on July 15, 2021. The opening takes the company’s store count to 113. Trader Joe’s To Open One Store Grocery store chain Trader Joe’s plans to open one store in Albany, New York, in fall 2021. The store will span 12,500 square feet and take the company’s store count to 522. Vera Bradley To Open One Store Accessories and apparel retailer Vera Bradley plans to open one store in St. Augustine, Florida, on July 30, 2021. The store will be located in the St. Augustine Premium Outlet shopping center and will take the company’s store count to 145.Quarterly Store Openings/Closures Settlement
Sleep Number Provides Store-Count Update Mattress retailer Sleep Number opened 37 stores and closed 18, year-to-date in 2021. The openings have previously been tracked. The company operates 621 stores as of July 23, 2021. Tractor Supply Company Provides Store-Count Update Home-improvement retailer Tractor Supply Company has opened 32 Tractor Supply Company stores, opened three Petsense stores and closed 11 Petsense stores year-to-date in 2021. The openings have previously been tracked. The company operates 1,955 Tractor Supply Company stores and 174 Petsense stores as of July 23, 2021.Non-Store-Closure News
Ross Stores’ CFO Steps Down Department store chain Ross Stores has announced that CFO Travis Marquette has resigned, effective immediately, having served in the role since 2019. Group President and COO Michael Hartshorn will take over Marquette’s responsibilities until the announcement of Marquette’s replacement in the coming months. Marquette will join rival department store chain Burlington Stores as President and COO in October 2021. 2021 Major US Store Closures and Openings [caption id="attachment_130389" 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_130390" 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=1125]
Source: Company reports/Coresight Research
[caption id="attachment_130391" 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_130392" 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=1126]
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=1127]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 Geek Retreat, Hamleys, HMV, Holland & Barrett, JoJo Maman Bébé, Poundstretcher, The Range, Sainsbury’s, SimplyFresh and Sofology. In light of these updates, our 2021 UK closures and openings counts increased to 1,418 and 838, 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 29 of 2021, ended July 23, 2021, to closures and openings tracked up to week 30 of 2020, ended July 24, 2020. Year to date in 2021, major UK retailers have announced 94.0% more openings and 22.1% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=256]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=257]
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
Geek Retreat To Open 60 Stores Hobby retailer Geek Retreat plans to open 60 stores in 2021. The store openings are part of a store expansion plan to open 100 stores by the end of 2022. The company operates 28 stores as of July 23, 2021. Hamleys Opens One Store Toy retailer Hamleys has opened one store in Merry Hill Shopping Centre outside Birmingham. The opening takes the company’s UK store count to 22. Holland and Barrett Opens One Store Health food and nutrition retailer Holland and Barrett opened one store in London on July 14, 2021. The store spans 900 square feet and takes the company’s store count to 233. HMV To Open 11 Stores Music and film store chain HMV plans to open 11 stores in the UK. The company opened one store on its 100th anniversary on July 20, 2021, and will open 10 more stores in 2021. The company operates 125 stores in the UK as of July 23, 2021. JoJo Maman Bébé To Open One Store Maternity and children’s clothing retailer JoJo Maman Bébé plans to open one store in Lincoln in the coming months. The company operates 85 stores as of July 23, 2021. Poundstretcher Provides Store-Count Update Discount store chain Poundstretcher closed 57 Poundstretcher stores and 18 Bargain Buys since its CVA (company voluntary arrangement) was approved by its creditors in July 2020. The company also plans to close one Poundstretcher store in Andover in the coming weeks. The update takes the closure count for Poundstretcher to 26 for 2020 and 32 for 2021, and closure count for Bargain Buys to eight for 2020 and 10 for 2021. The company operates 301 Poundstretcher stores and 61 Bargain Buys stores as of July 23, 2021. The Range Opens One Store Home-improvement retailer The Range opened one new store in Lincolnshire on July 16, 2021. The store opening is the company’s fifth in 2021 and will take the company’s store count to 194. Sainsbury’s Opens One Store Sainsbury’s opened a Sainsbury’s Local convenience store in Hamilton on July 14, 2021. The store spans 2,300 square feet and takes the company’s store count to 1,412. SimplyFresh To Open One Store Grocery store chain SimplyFresh plans to open one store in Redditch. The company has not confirmed the opening date. The opening will take the company’s store count to 26. Sofology To Open One Store Furniture store chain Sofology plans to open one store in Glasgow on July 24, 2021. The store opening will take the company’s store count to 51.Non-Store-Closure News
Apollo Pulls Out of Morrisons Takeover Bid Private equity firm Apollo Asset Management has stated that it will no longer be making a bid for supermarket chain Morrisons. Apollo is instead looking to join the consortium aiming to takeover Morrisons, led by rival equity firm Fortress Investment Group. Morrisons accepted a £6.3 billion ($8.6 billion) takeover bid from the new consortium in early July 2021. [caption id="attachment_130395" 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_130396" 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=1130]
Source: Company reports/Coresight Research
This week we saw an update from Poundstretcher, which changed our 2020 closures count to 2,677. [caption id="attachment_130397" 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_130398" 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.