DIpil Das
The US
2021 Major US Store Closures and Openings This week, we discuss updates for Costco, Hy-Vee, NIKE and Trader Joe’s. In light of these updates, our 2021 US closures and openings counts stand at 4,941 and 4,998, 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 39 of 2021, ended October 1, 2021, to closures and openings tracked up to week 40 of 2020, ended October 2, 2020. Year to date in 2021, major retailers have announced 59.2% more openings and 37.5% fewer closures compared to the same period in 2020. Year to date, openings are ahead of closures by 1.1%—compared to being 151.6% behind at the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=300]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=303]
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
Hy-Vee Opens One Store Grocery retailer Hy-Vee opened one store in Eau Claire, Wisconsin, on September 28, 2021. The opening takes the company’s store count to 279. Trader Joe’s Opens 15 Stores Grocery retailer Trader Joe’s has opened 15 stores year to date, with its latest opening in Huntsville, Alabama, on September 30, 2021. The openings take the company’s store count to 534.Quarterly Store Openings/Closures Settlement
Costco Provides Store-Count Update Warehouse club owner Costco opened six stores in its fourth quarter, ended August 29, 2021, and plans to open 20 stores globally in its fiscal year ending early September 2022. We estimate that five of these stores will open in the US in calendar 2021. The update takes the company’s openings count to 12. The company operates 565 stores in the US as of August 29, 2021. NIKE Provides Store-Count Update Footwear brand NIKE closed net 13 stores in the US in its fiscal year ended May 31, 2021. The update takes the company’s 2020 and 2021 closures counts to 32 and eight, respectively. The company operates 325 stores as of May 31, 2021.Non-Store-Closure News
Citarella Appoints New CEO Specialty food retailer Citarella has appointed Rich Durante as CEO, effective September 27, 2021. Durante has taken over merchandising, operations and team development from Founder Joe Gurrera. Durante most recently served as Chief Merchandising Officer at The Fresh Market. 2021 Major US Store Closures and Openings [caption id="attachment_133776" 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 12 store closures and so are not included in the chart.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_133777" 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 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=1306 table_view=regular]
Source: Company reports/Coresight Research This week saw an update from NIKE, which changed our 2020 closure count to 9,591. [caption id="attachment_133778" 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 21 store closures and so are not included in the chart.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_133779" 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, 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=1307 table_view=regular]
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=1308 table_view=regular]
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, Build-A-Bear, The Food Warehouse, The Fragrance Shop, Hobbycraft, JD Sports, Next, Pavers, Poundland, Poundstretcher, Spar, Sports Direct, Tommy Hilfiger and Waterstones. In light of these updates, our 2021 UK closures and openings counts stand at 1,481 and 951, 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 39 of 2021, ended October 1, 2021, to closures and openings tracked up to week 40 of 2020, ended October 2, 2020. Year to date in 2021, major UK retailers have announced 85.0% more openings and 29.2% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=301]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=302]
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 Dartford on November 21, 2021. The store will be located in a former Homebase site and will take the company’s 2021 openings count to 15 and store count to 701. Build-A-Bear Closes One Store Toy retailer Build-A-Bear closed its store in Eastgate Shopping Centre in Basildon on September 30, 2021. The closure takes the company’s store count to 45 in the UK. The Food Warehouse To Open Two Stores Supermarket chain The Food Warehouse, owned by supermarket chain Iceland, plans to open one store in Oxford on October 8, 2021, and one store in Kirkcaldy on November 30, 2021. The store openings will take the company’s store count to 151. The Fragrance Shop Opens Nine Stores Perfume retailer The Fragrance Shop opened nine stores year to date, with the latest opening in shopping center The Ashley Centre in Epsom on September 25, 2021. The openings take the company’s store count to 208. Hobbycraft To Open One Store Arts and crafts retailer Hobbycraft plans to open one store in Cirencester on October 13, 2021. The opening will take the company’s 2021 openings count to seven and overall store count to 110. JD Sports To Open One Store Sports apparel retailer JD Sports plans to open one store in Cheltenham in the Regent Arcade Shopping Centre by the end of the year. The store will span 11,000 square feet and will take the company’s UK store count to 393. Next Provides Store Count Update Apparel retailer Next plans to close 13 mainline stores and open eight clearance stores in its fiscal year ending January 2022. We estimate that 12 of the closures and seven of the openings will fall in calendar 2020. The store update will take the company’s store count to 486. Pavers Opens One Store Footwear retailer Pavers opened one store in Norwich on September 27, 2021. The opening takes the company’s store count to 210. Poundland Closes One Store Discount retailer Poundland closed its store in The Ryemarket Shopping Centre, located outside Dudley, on September 29, 2021. The closure takes the company’s store count to 684. Poundstretcher To Open One Store Discount retailer Poundstretcher plans to open one store in King’s Lynn, Norfolk, in early October 2021. The opening will take the company’s 2021 openings count to 11 and its store count to 356. Sports Direct To Open One Store Sports retailer Sports Direct plans to open one store in Walton-on-Thames in fall 2021. The store will be located in the Heart Shopping Centre and will take the company’s store count to 533. Spar Opens Two Stores Grocery retailer Spar opened one store in Wakefield on September 27, 2021, and plans to open one store in Leicestershire on October 8, 2021. The company operates over 2,600 stores in the UK as of October 1, 2021. Tommy Hilfiger Opens One Store Apparel retailer Tommy Hilfiger opened one store at the Manchester Arndale shopping center on September 23, 2021. The opening takes the company’s store count to 43 in the UK. Waterstones Opens One Store Book retailer Waterstones opened one store at Foyleside Shopping Centre in Derry on September 22, 2021. The opening takes the company’s store count to 286.Non-Store-Closure News
Burberry Appoints New Chief Digital Officer Luxury retailer Burberry has appointed C.P. Duggal to the newly created role of Chief Digital and Analytics Officer, effective September 30, 2021. Duggal joins the company after serving 20 years at American Express, most recently as Executive Vice President of Digital and Analytics. [caption id="attachment_133780" 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_133781" 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=1309 table_view=regular]
Source: Company reports/Coresight Research [caption id="attachment_133782" 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_133783" 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.