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The US
2021 Major US Store Closures and Openings Year to date in 2021, US retailers have announced 1,678 closures and 1,863 openings for the full year. Our data represent closures and openings by calendar year, so these totals include announcements made in 2020 of closures and openings expected to fall in 2021. This week, our updates for Amazon Fresh, Aritzia, Citi Trends, Conn’s HomePlus and Macy’s changed the 2021 US openings count to 1,863. The 2021 US closure count remains unchanged from last week, at 1,678. The chart below depicts the week-by-week totals of announced US store closures and openings year-to-date in 2021. US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=150]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
Amazon Opens a New Amazon Fresh Store Amazon has opened a new Amazon Fresh store at Whittier Boulevard in Friendly Hills marketplace in California. This is the company’s fifth Amazon Fresh store in South California, with four others located in Irvine, North Hollywood, Northridge and Woodland Hills. Barneys at Saks Opens Its First Store Luxury fashion retailer Saks, which owns the licensing rights for Barneys, has opened its first Barneys At Saks concession store, spanning 54,000 square feet and located on the fifth floor at the Saks Fifth Avenue flagship store in Manhattan, New York. Barneys filed for bankruptcy in 2019 and closed all its brick-and-mortar stores. Authentic Brand Group subsequently purchased Barney’s intellectual property and through a partnership with the Group, Saks remains the exclusive destination for Barneys retail and e-commerce business in US and Canada. We do not count shop-in-shop locations in our store openings count, as charted below. Christopher & Banks Files for Bankruptcy Women’s apparel retailer Christopher & Banks has filed for Chapter 11 bankruptcy amid prolonged decline in demand and defaults on major financial obligations. The retailer has hired business services and restructuring advisory firm Hilco Merchant Resources to sell the majority of its 449 stores through a liquidation sale. The retailer is also in “active discussion with potential buyers” to sell its e-commerce unit in Chapter 11, according to a company press release on January 14, 2021. Citi Trends To Open 100 Stores By 2023 Value fashion retailer Citi Trends has announced that it will open 100 new stores and remodel at least 150 stores by the end of its fiscal year 2023, ending Jan 31, 2024. As per our calendarized estimate, the retailer will open 31 stores in 2021. Conn’s HomePlus To Open Two Stores Specialty home goods retailer Conn’s HomePlus has announced plans to open one new store at Horizon Park in Tampa and one new store at Cortez Plaza in Bradenton on February 5, 2021. Conn’s HomePlus opened a store spanning 46,410 square feet at Springdale Mall in Mobile, Alabama on January 8, 2021. Following these new store openings, the retailer will operate a total of 149 stores across 15 states. Macy’s Opens New Market by Macy’s Store Macy’s opened its second small-format Market by Macy’s store, spanning 20,000 square feet, at WestBend, Texas on 15 January, 2021. The new store offers a streamlined assortment of the brands available at full-line Macy’s stores. It offers standard and self-service checkouts along with buy online, pick up in store (BOPIS) services and a same-day delivery service operated by third-party delivery company DoorDash. Macy’s opened its first Market by Macy’s store at Southlake Town Square in Texas in February 2020. Aritzia To Open Seven New Boutique Stores Women’s fashion retailer Aritzia reported that it will open seven new stores in the US by the end of fiscal 2021. The retailer operates a total of 33 boutique stores in the US as of its third quarter ended November 29, 2020. We have already accounted for six of the openings in our 2020 opening counts charts and expect one to open in its fourth quarter, ending February 2021.Non-Store-Closure News
Urban Outfitters Names Sheila Harrington as New CEO Urban Outfitters has announced Sheila Harrington as its new CEO, effective February 1, 2021. Harrington is currently the CEO of Free People and will be leading both brands as CEO. She joined Free People in 2002 and had previously worked with Bloomingdale’s and Gap. 2021 Major US Store Closures and Openings [caption id="attachment_122122" 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, Children’s Place, Express, Gap, GNC, Heritage Brands, JCPenney, H&M, Michael Kors, Office Depot, RTW Retailwinds and Vitamin Shoppe, among others. Estimates for Banana Republic, Bed Bath & Beyond, Build-A-Bear, Chico’s, Gap and Michael Kors 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. 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 its outlets would commonly be perceived as retail stores.Source: Company reports/Coresight Research[/caption] [caption id="attachment_122123" 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 and Old Navy openings pertain to North America openings.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=700]
Source: Company reports/Coresight Research
[caption id="attachment_122124" 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 13 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_122125" 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, Under Armour and Urban Outfitters 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 six store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2021 Major US Retail Bankruptcies [wpdatatable id=701]
N/A – Not Available Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=702]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 Year to date in 2021, UK retailers have announced 607 closures and 189 openings for the full year. Our data represent closures and openings by calendar year, so these totals include announcements made in 2020 of closures and openings expected to fall in 2021. This week, we revised the closures count for Arcadia Group, Edinburgh Woollen Mill and Ponden Home, which has changed the 2021 UK closure count to 607. With no updates on store openings, the 2021 UK openings count remains unchanged from last week, at 189. The chart below depicts the week-by-week totals of UK store closures and openings year to date in 2021. UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=151]Source: Company reports/Coresight Research
What Is Happening This Week in the UK
Edinburgh Woollen Mill and Ponden Home To Permanently Close a Total of 119 Stores Edinburgh Woollen Mill and Ponden Home have announced plans to close 85 and 34 stores, respectively. Purepay Retail, a consortium of international investors, has previously acquired a combined total of 246 Edinburgh Woollen Mill and Ponden Home stores out of administration, as well as around 50 Bonmarché stores that are also owned by parent company EWM Group. Edinburgh Woollen Mill and Ponden Home fell into administration in November and Bonmarché fell into administration in December last year. Arcadia Group To Close 31 Stores Arcadia Group administrators have announced plans to close a total of 31 stores, including all 21 stores of Arcadia’s Outfit banner by the end of January 2021. Arcadia Group went into administration in November last year and is looking to sell some or all brands within the group. Next is reportedly the leading bidder to acquire the entire group out of administration. JD Sports, along with Authentic Brands, are also reportedly in talks to acquire Topshop, Arcadia’s flagship brand. [caption id="attachment_122128" 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 other 10 stores that have not yet been disclosed.Source: Company reports/Coresight Research[/caption] [caption id="attachment_122129" 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, Lidl, Screwfix and Planet Organic.Source: Company reports/Coresight Research[/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=704]
Source: Company reports/Coresight Research
[caption id="attachment_122130" 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 Topshop and Topman banner store. 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 six store openings and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_122131" 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.