DIpil Das
The US
2021 Major US Store Closures and Openings This week, we discuss updates for Barnes & Noble, Dillard’s, H&M and Rooms To Go. In light of these updates, our 2021 US closures and openings counts stand at 4,947 and 5,005, 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 40 of 2021, ended October 8, 2021, to closures and openings tracked up to week 41 of 2020, ended October 9, 2020. Year to date in 2021, major retailers have announced 58.8% more openings and 37.4% fewer closures compared to the same period in 2020. Year to date, openings are ahead of closures by 1.1%—compared to being 150.8% behind at the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=310]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=311]
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
Dillard’s Opens One Store Department store chain Dillard’s opened one store in Grand Valley, Colorado, on October 6, 2021. The opening takes the company’s store count to 281. Rooms To Go Opens Three Stores Furniture retailer Rooms To Go has opened three stores so far in 2021. Its latest opening occurred in Jacksonville, Florida, on October 2, 2021. The openings take the company’s store count to 28. Quarterly Store Openings/Closures Settlement Barnes & Noble Provides Store-Count Update Book retailer Barnes & Noble has opened five stores and closed two stores year to date in 2021. The company operates 613 stores as of October 8, 2021. H&M Provides Store-Count Update Apparel retailer H&M has opened five US stores and closed 30 year to date in 2021. The company plans to open a further 40 stores and close 95 globally in its fourth quarter, ending early December 2021. The openings have already been tracked; we estimate that 11 of the closures will be in the US. The update takes the 2021 closure count to 41. The company operates 549 stores in the US as of August 31, 2021.Non-Store-Closure News
Whole Foods Market Appoints New CEO Grocery retailer Whole Foods Market’s Co-Founder and CEO John Mackey plans to retire on September 1, 2022. He will be succeeded by the Chief Operating Officer Jason Buechel, who joined the company in 2013 as Global Vice President and Chief Information Officer and has served as Chief Operating Officer since 2019. 2021 Major US Store Closures and Openings [caption id="attachment_134129" 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_134130" 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=1342]
Source: Company reports/Coresight Research [caption id="attachment_134131" 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_134132" 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 Amazon, Boyes, H&M, Holland & Barrett, JD Sports, Osprey London, ProCook, The Range, SimplyFresh, Superdrug and Yours Clothing. In light of these updates, our 2021 UK closures and openings counts stand at 1,489 and 970, 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 40 of 2021, ended October 8, 2021, to closures and openings tracked up to week 41 of 2020, ended October 9, 2020. Year to date in 2021, major UK retailers have announced 87.3% more openings and 29.0% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=312]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=313]
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 Its First UK 4-Star Store Amazon opened one Amazon 4-Star store in Bluewater shopping center in Kent on October 6, 2021. The opening takes the company’s store count in the UK to seven. Boyes To Open One Store Discount department store chain Boyes plans to open one store in a shopping center in Lincoln by the end of the year. The store opening will take the company’s store count to 69. H&M Provides Store-Count Update Apparel retailer H&M has opened four stores and closed 19 year to date in the UK. The company plans to open 40 stores and close 95 globally in its fourth quarter, ending early December 2021. We estimate that two openings and five closures will occur in the UK. The update takes the company’s 2021 openings and closures counts to six and 24, respectively. The company operates 272 stores in the UK as of August 31, 2021. Holland & Barrett Opens One Store Food and nutrition retailer Holland & Barrett opened one store in Monks Cross Shopping Park in York on October 1, 2021. The opening takes the company’s store count to 236. JD Sports Opens One Store Sports apparel retailer JD Sports opened one store in London in Westfield Stratford City shopping center on October 1, 2021. The opening will take the company’s store count in the UK to 394. Osprey London Opens One Store Luxury retailer Osprey London opened one store in Springfields Outlet Shopping & Leisure center in Spalding, Lincolnshire on October 1, 2021. The opening takes the company’s store count to 19. ProCook Opens One Store Kitchenware retailer ProCook opened one store in The Mall Cribbs Causeway shopping park in Bristol on September 29, 2021. The store spans 2,800 square feet and takes the company’s store count to 54. The Range Provides Store-Count Update Home-goods retailer The Range has opened 12 stores year to date and plans to open three more by the end of November 2021. The openings will take the company’s store count to 200. SimplyFresh Closes One Store Grocery store symbol group SimplyFresh closed its store in Kingfisher Shopping Centre outside Birmingham on September 29, 2021. The closure takes the company’s store count to 25. Superdrug Opens Five Stores Health and beauty retailer Superdrug has opened five stores year to date in 2021. The latest opening was in the Serpentine Green shopping center in Peterborough on October 1, 2021. The openings take the company’s store count to 820. Yours Clothing To Close One Store Apparel retailer Yours Clothing plans to close its store in Princess Square shopping center in Bracknell on October 9, 2021. The closure will take the company’s store count to 67.Non-Store-Closure News
Jigsaw Appoints New CEO Woman’s apparel retailer Jigsaw has appointed Beth Butterwick as CEO, effective October 1, 2021. Butterwick joined the company in January 2020 and has served as interim CEO since May 2021. [caption id="attachment_134133" 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_134134" 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_134189" 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_134136" 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.