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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Amazon, Casey's General Stores, GameStop, Miniso and Urban Outfitters. In light of these updates, our 2021 US closures and openings counts stand at 4,889 and 4,969, 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 37 of 2021, ended September 17, 2021, to closures and openings tracked up to week 38 of 2020, ended September 18, 2020. Year to date in 2021, major retailers have announced 58.3% more openings and 37.9% fewer closures compared to the same period in 2020. Year to date, openings are ahead of closures by 1%—compared to being 150.9% behind at the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=290]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=291]
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 One Store Amazon plans to open an Amazon Fresh store in Murrieta, California in late fall 2021. The store opening will take the company’s 2021 openings count to 16 and overall Amazon Fresh store count to 20. Miniso To Open 10 Stores Lifestyle brand Miniso opened one store in Cherry Hill, New Jersey on September 7, 2021, and plans to open nine more by the end of 2021. The openings will take the company’s store count to 46.Quarterly Store Openings/Closures Settlement
Casey’s General Stores Provides Store-Count Update Convenience store chain Casey’s General Stores opened three and closed five stores in its first quarter, ended July 31, 2021. The openings have been previously tracked and the update takes the company’s 2021 closure count to 10. The company operates 2,380 stores as of July 31, 2021. GameStop Provides Store-Count Update Videogame retailer GameStop closed net 39 stores in the US in its second quarter, ended July 31, 2021. The update takes the company’s 2021 closure count to 170. The company operates 3,022 stores in the US as of July 31, 2021. Urban Outfitters Provides Store-Count Update Apparel retailer Urban Outfitters opened two and closed one Urban Outfitters stores, opened one and closed one Anthropologie store, and opened nine Free People stores in the US in its second quarter ended July 31, 2021. The openings and closures for Urban Outfitters and Anthropologie Group stores have been previously tracked and the update takes the 2021 openings count for Free People Group to 15. The company operates 178 Urban Outfitters stores, 204 Anthropologie stores and 151 Free People stores in the US as of July 31, 2021.Non-Store-Closure News
ABC Carpet & Home Files for Bankruptcy Home-furnishings retailer ABC Carpet & Home filed for bankruptcy on September 10, 2021. The company plans to hold a bankruptcy auction on October 22, 2021, and currently has a stalking horse bid from private equity firm 888 Capital. The retailer operates two stores, one each in Brooklyn and Manhattan, as of September 17, 2021. 2021 Major US Store Closures and Openings [caption id="attachment_132747" 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 11 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_132748" 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 15 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=1260]
Source: Company reports/Coresight Research
[caption id="attachment_132749" 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 20 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_132750" 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, 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=1261]
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=1262]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 Amazon, B&M, Breitling, Co-op, Gucci, Holland & Barrett, JFT Warehouse, Montblanc, New Look, Next, Nisa, OMEGA, One Below, Poundland and Spar. In light of these updates, our 2021 UK closures and openings counts stand at 1,466 and 924, 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 37 of 2021, ended September 17, 2021, to closures and openings tracked up to week 38 of 2020, ended September 18, 2020. Year to date in 2021, major UK retailers have announced 81.9% more openings and 29.4% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=292]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=293]
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
Amazon Opens One Store Amazon opened its sixth UK Amazon Fresh store in London on September 8, 2021. The chain made its UK debut in March 2021. B&M To Close One Store Variety store chain B&M plans to close one store in Leicester on September 18, 2021. The store is located at St George’s Retail Park and the closure takes the company’s closure count for 2021 to six and overall store count to 683 stores. Co-op To Close One Store Supermarket chain Co-op will close one store in Cardiff by the end of November 2021. The company operates over 2,600 stores as of September 17, 2021. Holland & Barrett To Open One Store Food and nutrition retailer Holland & Barrett plans to open one store in Fosse Park shopping center, Leicester, on September 22, 2021. The store will take the company’s store count to 235. Luxury Brands To Open Four Stores in Belfast Shopping Center Luxury brands Breitling, Gucci, Montblanc and Omega plan to open one store each in Queen’s Arcade shopping center in Belfast by the end of 2021. In the UK, Breitling operates 10 stores, Gucci operates 20 stores, Montblanc operates 195 stores and Omega operates 137 stores as of September 17, 2021. JTF To Reopen Stores After Bankruptcy Acquisition Crown Crest Group, parent company of discount retailer Poundstretcher, has acquired discount retailer JFT Warehouse and plans to reopen 10 of the 12 stores that were closed when JFT Warehouse filed for administration in July 2021. We have revised our 2021 closure count for JFT Warehouse from 12 to two. The company will operate 10 stores after the reopenings. New Look To Open One Store Apparel retailer New Look plans to open one store in Rochdale Riverside shopping center in September 2021. The store opening will take the company’s store count to 468. Next To Open One Store Apparel retailer Next plans to open one store in Irvine, Scotland in September 2021. The store opening will take the company’s store count to 33. Nisa Opens Five Stores Grocery retailer Nisa has opened five stores year-to-date, with the latest store opened in Camden on September 13, 2021. The store openings take the company’s store count to 1,035. One Below To Open One Store Discount retailer One Below plans to open one store in Station Shopping center in Reading by the end of September 2021. The opening will take the company’s store count to 72. Poundland To Close One Store Discount retailer Poundland plans to close its store in Derby on September 18, 2021. The closures will take the company’s store count to 685. Spar Provides Store-Count Update Convenience chain Spar has opened 11 stores and closed one store year to date. The company operates around 2,600 stores in the UK as of September 17, 2021.Non-Store-Closure News
EG Group Considers Selling Gas Station and Convenience Stores EG Group, parent company of supermarket chain Asda, is considering selling its gas station and convenience store business in a deal that could value the company at £10.8 billion ($14.9 billion). The company finalized its acquisition of Asda in August 2021 after signing an agreement to buy the retailer in October 2020. EG Group is currently in talks with advisers about the plans and may explore a stock market listing. [caption id="attachment_132754" 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_132755" 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=1265]
Source: Company reports/Coresight Research
[caption id="attachment_132756" 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_132757" 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.