DIpil Das
The US
2021 Major US Store Closures and Openings This week, we discuss updates for Ahold Delhaize, Amazon, Bass Pro Sports, James Avery Artisan Jewelry, Lowe’s, Sun & Ski Sports and Trader Joe’s. In light of these updates, our 2021 US closures and openings counts stand at 4,713 and 4,602, 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 33 of 2021, ended August 20, 2021, to closures and openings tracked up to week34 of 2020, ended August 21, 2020. Year to date in 2021, major retailers have announced 48.9% more openings and 37.4% fewer closures compared to the same period in 2020.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=272]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=273]
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 To Open Two Stores Amazon opened one Amazon Fresh store in Seattle on August 12, 2021, and plans to open one more in Naperville, Illinois, by the end of 2021. The update takes the company’s 2021 openings count to 14 and overall store count to 18. Bass Pro Shops To Open One Store Sports and outdoors retailer Bass Pro Shops plans to open one store in St. Louis, Missouri, by the end of 2021. The store will span 75,000 square feet and will be located in a former Toys“R”Us store. The opening will take the company’s store count to 79. James Avery Artisan Jewelry Opens One Store Jeweler James Avery Artisan Jewelry opened one store in Kyle, Texas on August 11, 2021. The opening takes the company’s store count to 16. Lowe’s Opens One Store Home-improvement retailer Lowe’s opened one Lowe’s Food store in West Ashley, South Carolina, on August 13, 2021. The store opening takes the company’s store count to 1,974. Sun & Ski Sports To Open One Store Sports and outdoors retailer Sun & Ski Sports plans to open one store in Hanover, Maryland, in the winter of 2021. The store will span 30,000 square feet and will be located in a former Modell Sporting Goods store. The opening will take the company’s store count to 31. Trader Joe’s To Open Two Stores Grocery store chain Trader Joe’s plans to open one store in Pasadena, California, on August 20, 2021, and one store in Chattanooga, Tennessee, on August 25, 2021. The openings will take the company’s store count to 524.Quarterly Store Openings/Closures Settlement
Ahold Delhaize Provides Store-Count Update Supermarket chain Ahold Delhaize opened 17 stores and closed one in its second quarter, ended July 4, 2021. The update takes the company’s 2021 openings and closures counts to 75 and one, respectively. The company operates 2,044 stores as of July 4, 2021. Fossil Group Provides Store-Count Update Accessories retailer Fossil Group opened one store in North America in 2020 and has opened one store and closed 19 in North America so far in 2021. The company operates 166 stores in North America as of August 20, 2021.Non-Store-Closure News
Authentic Brands To Acquire Reebok Brand management company Authentic Brands will acquire footwear brand Reebok from Adidas for $2.5 billion. Authentic Brands has stated that it plans to maintain Reebok’s footprint across e-commerce, retail and wholesale channels. The deal is expected to close in the first quarter of 2022. 2021 Major US Store Closures and Openings [caption id="attachment_131600" align="aligncenter" width="725"]
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_131601" align="aligncenter" width="725"]
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 14 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=1189]
Source: Company reports/Coresight Research
This week saw updates from Fossil Group, which took our 2020 openings count to 3,452. [caption id="attachment_131602" align="aligncenter" width="725"]
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_131603" align="aligncenter" width="725"]
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, Fossil Group, 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=1190]
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=1191]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, Hawes & Curtis, Homebase, Jigsaw, Joules and Poundland. In light of these updates, our 2021 UK closures and openings counts increased to 1,470 and 880, 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 33 of 2021, ended August 20, 2021, to closures and openings tracked up to week 34 of 2020, ended August 21, 2020. Year to date in 2021, major UK retailers have announced 103.2% more openings and 27.7% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=274]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=275]
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 To Open One Store Variety store chain B&M plans to open one store in Blackpool in 2021. The store is located in a former Poundstretcher site and will take the company’s 2021 openings count to 14 and total store count to 684. Hawes & Curtis Opens One Store Apparel retailer Hawes & Curtis opened one store in London on August 16, 2021. The opening takes the company’s store count to 15. Homebase Opens 12 Stores Home-improvement retailer Homebase has opened 12 stores year to date in 2021. The latest store opening was in Bradford on August 12, 2021. The company operates 157 stores as of August 20, 2021. Jigsaw Opens One Store Apparel retailer Jigsaw opened one new store in London on August 10. The opening takes the company’s 2021 openings count to four and overall store count to 49. Joules To Open One Store Apparel retailer Joules plans to open one new store in Yarm, North Yorkshire, in 2021. The opening will take the company’s 2021 openings count to seven and overall store count to 138. Poundland To Close Two Stores Discount retailer Poundland closed its store in Wick on August 13, 2021, and plans to close its store in Stratford-upon-Avon in September 2021. The closures will take the company’s store count to 685.Non-Store-Closure News
ASOS Chairman Steps Down Online fashion retailer ASOS announced its Chairman Adam Crozier will step down from his role on November 28, 2021, and will join telecommunication company BT Group as Chairman. ASOS is currently looking for a successor. [caption id="attachment_131604" align="aligncenter" width="725"]
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_131605" align="aligncenter" width="725"]
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=1194]
Source: Company reports/Coresight Research
[caption id="attachment_131606" align="aligncenter" width="725"]
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_131607" align="aligncenter" width="725"]
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.