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The US
2021 Major US Store Closures and Openings Year to date in 2021, US retailers have announced 2,145 closures and 1,940 openings for the full year. Our data represent closures and openings by calendar year, so these totals include announcements made in 2020 of closures and openings expected to fall in 2021. This week, our updates for Amazon Fresh, Aerie, Conn’s HomePlus and Costco changed the 2021 US openings count to 1,940. The 2021 US closure count changed to 2,145 with the closure updates for American Eagle, Francesca’s, Godiva and L’Occitane this week. The chart below depicts the week-by-week totals of announced US store closures and openings year-to-date in 2021. US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=152]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 Opens a new Amazon Fresh Store Amazon opened a new Amazon Fresh store in Schaumburg, Illinois on January 28, 2021. Spanning approximately 45,000 square feet, the store includes Alexa voice technology, Amazon Dash smart shopping carts, and same-day delivery and pick up services. This is the company’s second Amazon Fresh store in the state of Illinois. American Eagle Outfitters To Close 225 American Eagle Stores by End of Fiscal 2023 American Eagle Outfitters has announced that it will close 225 American Eagle stores by the end of its fiscal year 2023 (which falls in January 2024), with 52 of these closures planned for calendar year 2021, as charted below. The retailer has also announced plans to open 208 new Aerie stores by the end of fiscal 2023. We have recorded an estimated 64 Aerie store openings for 2021 in our totals, in addition to the two estimated openings we had previously charted for Aerie for January 2021, following an announcement in December 2020 by the retailer. Conn’s HomePlus To Open Two Stores Specialty home goods retailer Conn’s HomePlus has announced plans to open two new stores on February 19, 2021 in Orlando, Florida—one at Highland Lakes shopping center and another at Colonial Plaza shopping center. Following these new store openings, the retailer will operate a total of 151 stores across 15 US states. Costco To Open 10 New Locations by 2021 Fiscal End Warehouse club Costco plans to open 10 new warehouse locations in the US and four new locations outside the US by the end of August 2021. Costco operates 803 locations globally and 558 locations in the US as of December 30, 2020. Francesca’s To Close 276 Stores Specialty apparel retailer Francesca’s has announced plans to close 276 stores following court approval of its bankruptcy sale. Investment firm TerraMar Capital, along with financial services firm Tiger Capital Group, have agreed to buy Francesca’s for $18 million in cash, promissory notes of $1.25 million and the assumption of around $7.74 million in liabilities. The new owners plan to keep around 275 Francesca’s stores open and retain the existing management team and employees. The transaction is supposed to complete by the end of January 2021. Godiva To Close 116 Stores Chocolatier Godiva announced that it will close all 116 stores and 12 café locations across North America by the end of March 2021. The company will continue to sell Godiva’s products online and through partnering retailers and grocery stores. The company’s in-store operations will continue across Europe, Greater China and the Middle East. We have charted the 116 store closures but do not include the 12 café closures as food service outlets are not part of our coverage. L'Occitane Plans To Close 23 Stores as It Files for Chapter 11 Bankruptcy Beauty retailer L'Occitane has filed for Chapter 11 bankruptcy amid untenable store rent obligations. The retailer plans to immediately shut 23 out of its 166 US stores.Non-Store-Closure News
Belk Files for Bankruptcy Department store retailer Belk has filed for Chapter 11 bankruptcy protection in order to reduce its debt burden and recapitalize its business for the future. The retailer currently operates 300 stores across 16 southeastern states. Walgreens Boots Alliance Names Roz Brewer as New CEO Drugstore retailer Walgreens Boots Alliance has named Roz Brewer as its new CEO, effective March 15, 2021. Roz is currently the COO of Starbucks. She held various leadership roles in Kimberly-Clark, Sam’s Club and Walmart before joining Starbucks. 2021 Major US Store Closures and Openings [caption id="attachment_122433" 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, Gap and Michael Kors 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. 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 its outlets would commonly be perceived as retail stores.Source: Company reports/Coresight Research[/caption] [caption id="attachment_122434" 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 and Old Navy openings pertain to North America openings.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 detail on timing or location. [wpdatatable id=718]
Source: Company reports/Coresight Research
[caption id="attachment_122435" 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 13 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_122436" 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, Under Armour and Urban Outfitters 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 six store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2021 Major US Retail Bankruptcies [wpdatatable id=719]
N/A – Not Available Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=720]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 Year to date in 2021, UK retailers have announced 608 closures and 194 openings for the full year. Our data represent closures and openings by calendar year, so these totals include announcements made in 2020 of closures and openings expected to fall in 2021. This week, we revised the closure count for Frasers Group, which has changed the 2021 UK closure count to 608. With openings updates for JYSK, we have updated the 2021 UK openings count to 194. The chart below depicts the week-by-week totals of UK store closures and openings year to date in 2021. UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=153]N/A – Not Available Source: Company reports/Coresight Research
What Is Happening This Week in the UK
Frasers Group To Close Jenners Store Frasers Group has announced that it will close its iconic Jenners store in Edinburgh on May 3, 2021, following the failure to reach an agreement with the landlord to secure the tenancy. The store closure will result in a loss of 200 jobs. With no current alternative plans for the store space, it will remain vacant in the foreseeable future. JYSK To Open Five New Stores Furniture & Home decor retailer JYSK announced that it will open five new stores before its fiscal year ends in August 2021. The new stores will be located in Barnsley, Bury, Gainsborough, Leeds and Stockport. Following the opening of these five new stores, the retailer will have a total of 26 stores across the UK.Non-Store-Closure News
Boohoo Acquires Debenhams for £55 Million Fashion retailer boohoo has acquired Debenhams’s brand assets, consumer list and intellectual property for £55 million ($75 million). The deal will result in the permanent closures of 118 Debenhams stores and more than 10,000 employee job losses. Boohoo intends to operate Debenhams as an online-only brand in the future. The retailer previously announced plans to close six stores by February 2021, which we included in our totals. We have now charted the remaining 118 stores in our 2021 UK closure counts. [caption id="attachment_122440" 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 other 10 stores that have not yet been disclosed.Source: Company reports/Coresight Research[/caption] [caption id="attachment_122441" 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, Screwfix and Planet Organic.Source: Company reports/Coresight Research[/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=722]
Source: Company reports/Coresight Research
[caption id="attachment_122442" 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 Topshop and Topman banner store. 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 six store openings and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_122443" 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.