Nitheesh NH
The US
2021 Major US Store Closures and Openings This week, we discuss updates for Camping World, Carter’s, The Container Store, Farm Stores, Presidente Supermarkets, Rolex, Schnucks, Under Armour, Uniqlo, Wegmans and Whole Food Market. In light of these updates, our 2021 US closures and openings counts stand at 4,668 and 4,541, 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 31 of 2021, ended August 6, 2021, to closures and openings tracked up to week 32 of 2020, ended August 7, 2020. Year to date in 2021, major retailers have announced 47.5% more openings and 28.4% fewer closures compared to the same period in 2020.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=264]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=265]
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
Farm Stores Opens One Store Drive-thru convenience store chain Farm Stores plans to open one store in Beachwood, Ohio. The opening will take the company’s store count to 67. Presidente Supermarket To Open Seven Stores Supermarket chain Presidente Supermarket plans to open seven supermarkets by the end of 2021. The openings will take the company’s store count to 41. Rolex Opens One Store Luxury watch company Rolex opened one joint Tudor and Rolex boutique in New York on July 28, 2021. The store spans 4,000 square feet and takes the company’s store count in the US to four. Schnucks To Open One Store Supermarket chain Schnucks plans to open one store in Jasper, Texas, on August 18, 2021. The opening will take the company’s store count to 111. Uniqlo To Close Two Stores Apparel retailer Uniqlo plans to close one store in Denver and one in Michigan in August 2021. The closures will take the company’s store count in the US to 45. Wegmans To Open Eight Stores Supermarket chain Wegmans has opened two stores in North Carolina in 2021 and plans to open six more by the end of the year. The company also plans to open one store in a former Kmart store in New York City in 2023. The company operates 106 stores as of August 6, 2021. Whole Foods Market Opens Three Stores Grocery retailer Whole Foods Market opened three stores in July 2021. The stores are located in Florida, New Hampshire and Wyoming. The update takes the company’s openings count for 2021 to four and its total store count to 510.Quarterly Store Openings/Closures Settlement
Camping World Provides Store-Count Update Outdoor and sports retailer Camping World opened 11 stores in its second quarter, ended June 30, 2021. The update takes the company’s openings count for 2021 to 16. The company operates 187 stores as of June 30, 2021. Carter’s Provides Store-Count Update Children’s apparel retailer Carter’s has closed 90 stores year to date. The company plans to close 25 more stores and open one by the end of 2021. The closures are part of its fiscal year plan to close 115 stores and we have already tracked them. The company operates 766 stores as of July 30, 2021. The Container Store Provides Store-Count Update Kitchen storage retailer The Container Store opened two stores in its first quarter, ended July 3, 2021. The update takes the company’s openings count for 2021 to four. The company operates 94 stores as of as of July 3, 2021. Under Armour Provides Store-Count Update Sportswear brand Under Armour opened three North American stores in its second quarter, ended June 30, 2021. The company operates 195 stores in North America as of June 30, 2021.Non-Store-Closure News
Global Brands Group Files for Bankruptcy The US branch of apparel manufacturer and brand management company Global Brands Group filed for bankruptcy on July 30, 2021, and plans to sell off its brands. The company currently has a $17.3 million stalking horse bid for its Aquatalia brand and is looking for buyers for Airband, B New York, Ely & Walker, JUNIPERunltd, MagnaReady and Yarrow. Foot Locker To Acquire WSS Footwear retailer Foot Locker is set to acquire athletic footwear and apparel retailer WSS for $750 million. WSS generated $425 million in revenues in its 2020 fiscal year and currently operates 93 stores in Arizona, California, Nevada and Texas. 2021 Major US Store Closures and Openings [caption id="attachment_131002" 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_131003" 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=1175]
Source: Company reports/Coresight Research
[caption id="attachment_131004" 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_131005" 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=1176]
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=1177]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 Disney, The Food Warehouse, The Fragrance Shop, Frasers Group, Heron Foods, Mango, Mountain Warehouse, OMEGA, Quality Discounts, The Range and TK Maxx. In light of these updates, our 2021 UK closures and openings counts increased to 1,467 and 855, 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 31 of 2021, ended August 6, 2021, to closures and openings tracked up to week 32 of 2020, ended August 7, 2020. Year to date in 2021, major UK retailers have announced 97.5% more openings and 25.4% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=266]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=267]
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
Disney To Close All but Two Stores in the UK Disney plans to close all its stores in the UK by September 2021, except its flagship stores in London and Dublin. The store closures are part of the company’s plan to move away from physical retail and focus more on e-commerce. The update takes the company’s store closures count for 2021 to 37. The Food Warehouse Opens One Store Supermarket chain The Food Warehouse, owned by supermarket chain Iceland, opened one store in York on July 26, 2021. The Food Warehouse operates 144 stores as of August 6, 2021. The Fragrance Shop Opens One Store Perfume retailer The Fragrance Shop opened one store in Merseyside on July 31, 2021. The opening takes the company’s store count to 200. Frasers Group Provides Store-Count Update Retail group Frasers Group plans to close its House of Fraser department store in Gateshead, Newcastle, and one Jack Wills store in Glasgow in September 2021. The company operates 52 House of Fraser stores and 58 Jack Wills stores as of August 6, 2021. Heron Foods Opens One Store Grocery retailer Heron Foods opened one store in North Tyneside, Newcastle, on July 29, 2021. The update takes the company’s openings count for 2021 to five and its total store count to 309. Mango To Open One Store Apparel retailer Mango plans to open one store in the Derbion shopping center in Derby on November 9, 2021. The opening will take the company’s UK store count to 38. Mountain Warehouse To Open One Store Outdoor clothing and equipment retailer Mountain Warehouse plans to open one store in Inverness in early August 2021. The store will span 4,400 square feet and takes the company’s UK store count to 96. OMEGA To Open One Store Luxury watch company OMEGA plans to open one store in Liverpool by the end of 2021. The store spans 2,000 square feet and will take the company’s UK store count to 16. Quality Discounts Opens One Store Discount retailer Quality Discounts opened one store in Chipping Norton on August 5, 2021. The opening takes the company’s store count to 28. The Range Opens One Store Home-improvement retailer The Range opened one store in Heathfield Retail Park in Ayr on July 30, 2021. The store opening is the company’s seventh this year and will take its 2021 store count to 196. TK Maxx Opens One Store Off-price retailer TJX Companies opened one TK Maxx store in the Liffey Valley Shopping Centre in Dublin on July 29, 2021. The opening takes the company’s store count to 350 in the UK.Non-Store-Closure News
Victoria’s Secret Moves into Liquidation The UK branch of intimates retailer Victoria’s Secret moved out of administration and into liquidation after receiving approval from the courts. The company entered into administration in June 2020. Victoria’s Secret stores in the UK are set to be operated by fashion retailer Next, under a joint venture agreement signed in September 2020 between parent company L Brands and Next. The online segment did operate under the UK branch of the business and will continue to be run by L Brands. [caption id="attachment_131009" 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_131010" 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=1180]
Source: Company reports/Coresight Research
[caption id="attachment_131011" 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_131012" 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.