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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Alimentation Couche-Tard, Crocs, Ganni, J.Crew, Ocean State Job Lot, QuikTrip, Sheetz, Skechers and Staples. In light of these updates, our 2021 US closures and openings counts stand at 4,666 and 4,503, 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 30 of 2021, ended July 30, 2021, to closures and openings tracked up to week 31 of 2020, ended August 1, 2020. Year to date in 2021, major retailers have announced 46.4% more openings and 28.1% fewer closures compared to the same period in 2020.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=258]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=259]
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
Alimentation Couche-Tard Opens One Store Convenience store chain Alimentation Couche-Tard opened a Circle K store in Athens, Georgia, on July 27, 2021. The company operates 9,415 stores in North America as of July 30, 2021. Ganni Opens One Store Apparel brand Ganni opened one store in Brooklyn, New York, on July 22, 2021. The store opening takes the company’s US store count to six. J.Crew To Open One Store Apparel retailer J.Crew plans to open one store in the Willow Lawn shopping center near Richmond, Virginia, in mid-August 2021. The store spans over 5,000 square feet and will take the company’s store count to 151. Ocean State Job Lot To Open Five Stores Discount home-furnishings retailer Ocean State Job Lot has opened four stores year to date in 2021 and plans to open one store in Princeton, New Jersey, by the end of 2021. The company operates 145 stores as of July 30, 2021. QuikTrip Opens Five Stores Convenience store chain QuikTrip has opened five stores year to date in 2021. The most recent opening took place in Corsicana, Texas, on July 25, 2021. The openings take the company’s store count to 900. Sheetz Opens One New Store Convenience store chain Sheetz opened one store in Henrico County, Virginia, on July 29, 2021. The company operates 626 stores across six states as of July 30, 2021. Staples Closes 15 Stores Office supplies retailer Staples has closed 15 stores year to date in 2021. The most recent closure took place in Jacksonville, Florida, on July 23, 2021. The closures take the company’s store count to 1,052.Quarterly Store Openings/Closures Settlement
Crocs Closes One Store Footwear retailer Crocs closed one North American store in its second quarter, ended June 30, 2021. The company operates 164 North American stores as of June 30, 2021. Skechers Provides Store-Count Update Footwear retailer Skechers has opened 15 stores year to date in 2021. The company plans to open a further 23–28 stores by the end of 2021. The update takes the company’s 2021 openings count to 38. The company operates 515 stores as of July 30, 2021.Non-Store-Closure News
Macy Hires New Bluemercury CEO Department store chain Macy’s has announced the appointment of Maly Bernstein as CEO of its subsidiary beauty retailer Bluemercury, effective September 13, 2021. Bernstein will succeed co-founder Marla Beck, who stepped down from the role in September 2019. Bernstein most recently served as VP of E-Commerce at CVS Health. Hellman & Friedman Completes Acquisition of At Home Private equity firm Hellman & Friedman completed the acquisition of home-furnishings retailer At Home in a $2.8 billion deal on July 23, 2021. The deal includes the assumption of the retailer’s assets and debt, and will take the company private. 2021 Major US Store Closures and Openings [caption id="attachment_130687" 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_130688" 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 details on timing or location. [wpdatatable id=1149]
Source: Company reports/Coresight Research
[caption id="attachment_130689" 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_130690" 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=1150]
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=1151]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, Beales, Burberry, Gym+Coffee, Hamleys, Iceland, JFT Warehouse, Orvis, Poundstretcher and The Range. In light of these updates, our 2021 UK closures and openings counts increased to 1,432 and 846, 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 30 of 2021, ended July 30, 2021, to closures and openings tracked up to week 31 of 2020, ended August 1, 2020. Year to date in 2021, major UK retailers have announced 95.8% more openings and 22.4% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=260]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=261]
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
B&M Opens One Store Discount store chain B&M opened one store in East London on July 15, 2021. The store is located in a former Poundstretcher site at Newbury Park and takes the company’s store count to 682 as of July 30, 2021. Beales To Open One Store Department store chain Beales plans to reopen its Southport store on August 12, 2021. The company closed all of its stores in March 2020 after it collapsed into administration in January 2020. It was acquired by private equity firm New Start 2020 in August 2020. The store spans 44,000 square feet and will bring the company’s store count to three. Burberry Opens One Store Luxury brand Burberry opened one flagship store in London on July 22, 2021. The store spans 9,200 square feet and takes the company’s store count in the UK to 19. Gym+Coffee To Open One Store Athleisure retailer Gym+Coffee plans to open one store in Victoria Square shopping center in Belfast in the coming weeks. The opening will take the company’s store count to eight. Hamleys To Open One Store Toy retailer Hamleys plans to open one store in St James Quarter shopping center in Edinburgh in the coming weeks. The store spans 2,500 square feet and will take the company’s store count in the UK to 23. Iceland Provides Store-Count Update Supermarket chain Iceland plans to close its Iceland store in Weymouth town center on September 4, 2021. The company also opened one The Food Warehouse store in York. The company operates 935 Iceland stores and 144 The Food Warehouse stores as of July 30, 2021. JTF Warehouse To Close All Its Stores Gardening and home-improvement retailer JTF Warehouse has fallen into administration after failing to find a buyer for the business. The company plans to close all its 12 stores and has already begun closing sales at all its locations. Orvis To Close One Store Sports and outdoor retailer Orvis will close its store in Chichester on July 31, 2021. The closure will take the company’s store count to 16 in the UK. Poundstretcher Opens One Store Discount retailer Poundstretcher opened one store in Gwent Shopping Centre in Tredegar, South Wales, on July 24, 2021. The opening is the company’s tenth new store in 2021 and takes the company’s store count to 302. The Range To Open One Store Home-improvement retailer The Range plans to open one new store in Fox Valley Shopping Park in Sheffield by the end of 2021. The store opening will be the company’s sixth in 2021 and will take the company’s 2021 store count to 195.Non-Store-Closure News
Ryman Appoints New CEO Stationery retailer Ryman has appointed Peter Birks as its new CEO, effective August 2021. Birks most recently served as CEO of delivery services company Tuffnells. Birks will report to Kypros Kyprianou, CEO of parent company Theo Paphitis Retail Group. [caption id="attachment_130697" 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_130698" 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=1154]
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_130701" 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_130702" 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.