albert Chan
The US
2021 Major US Store Closures and Openings
This week, we discuss updates for Clarks, Meijer, Scotch & Soda, Sears, Shoprite, Vineyard Vines and Whole Foods Market. In light of these updates, our 2021 US closures and openings counts stand at 4,995 and 5,012, 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 41 of 2021, ended October 15, 2021, to closures and openings tracked up to week 42 of 2020, ended October 16, 2020. Year to date in 2021, major retailers have announced 58.4% more openings and 36.8% fewer closures compared to the same period in 2020. Year to date, openings are ahead of closures by just 0.3%—compared to being 149.8% behind at the same time last year.
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=315]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=316]
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
Clarks Closes 47 Stores
Footwear retailer Clarks has closed 47 stores in year-to-date 2021. The closures are part of its store restructuring plans, following its acquisition by private equity firm Lion Capital in November 2020. The company operates 167 stores in the US as of October 15, 2021.
Meijer Opens One Store
Supermarket chain Meijer opened one store in Detroit on October 11, 2021. The store spans 42,000 square feet and takes the company’s store count to 257.
Scotch & Soda To Open Two Stores
Apparel retailer Scotch & Soda plans to open two stores by the end of October 2021. The openings will take the company’s store count to 41.
Sears To Open One Store
Department store chain Sears plans to open one Sears Hometown store in Cudahy, Wisconsin, by the end of October 2021. The store will be located in a former Kmart site and will take the company’s Sears Hometown store count to 322.
Shoprite Closes One Store
Supermarket chain Shoprite closed its store in Hudson Valley, New York, on October 6, 2021. The closure takes the company’s store count to 323.
Vineyard Vines To Open One Store
Apparel retailer Vineyard Vines plans to open one store in the Philadelphia Premium Outlets shopping center in Limerick, Pennsylvania, by the end of October 2021. The opening will take the company’s store count to 126.
Whole Foods Market Opens Two Stores
Whole Foods Market opened one store in Massapequa, New York, on October 10, 2021, and one store in Avon Village, Connecticut, on September 3, 2021. The openings are part of Whole Foods’ expansion plan of opening 43 stores (the timeline for the openings has not been provided) and take the company’s store count to 511.
Non-Store-Closure News
Walgreens Boots Alliance Adds Two Key Executives
Drugstore chain Walgreens Boots Alliance has hired Holly May as Global Chief Human Resources Officer and appointed Anita Allemand to the newly created role of Chief Transformation and Integration Officer, effective immediately. May most recently served as Global Chief Human Resources Officer for Abercrombie & Fitch and Allemand as Senior Vice President of Health Solutions for healthcare company Optum.
2021 Major US Store Closures and Openings [caption id="attachment_134481" 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 12 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_134482" 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=1349]
Source: Company reports/Coresight Research [caption id="attachment_134483" 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 21 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_134484" 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=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 Bensons for Beds, JD Sports, Farmfoods, Menkind, New Look, Reiss, Superdrug and Tommy Hilfiger. In light of these updates, our 2021 UK closures and openings counts stand at 1,490 and 977, 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 41 of 2021, ended October 15, 2021, to closures and openings tracked up to week 42 of 2020, ended October 16, 2020. Year to date in 2021, major UK retailers have announced 88.6% more openings and 29.3% fewer closures compared to the same time last year.
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=317]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=318]
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
Bensons for Beds To Open One Store
Mattress and beds retailer Bensons for Beds plans to open one store in the Washington Square shopping center in Workington by the end of October 2021. The opening will take the company’s store count to 179.
JD Sports Opens One Store
Sports apparel retailer JD Sports opened one store in Croyden in the Valley Retail and Leisure Park on October 11, 2021. The store opening takes the company’s store count in the UK to 395.
Farmfoods To Open One Store
Frozen-food supermarket chain Farmfoods plans to open one store in Shrub Hill retail park in Worcester by the end of 2021. The company operates over 300 stores as of October 15, 2021.
Menkind Opens One Store
Gadgets and gifts retailer Menkind opened one store in York on October 6, 2021. The store spans 2,600 square feet and takes the company’s store count to 46.
New Look To Close One Store
Apparel retailer New Look plans to close one store in Haverfordwest on October 20, 2021. The closure will take the company’s store count to 467.
Reiss Opens One Store
Apparel retailer Reiss opened one store in Edinburgh on October 11, 2021. The store spans 2,000 square feet and will take the company’s store count to 105.
Superdrug To Open One Store
Health and beauty retailer Superdrug plans to open one store in a former site of bookstore retail chain Waterstones in Lincoln on October 16, 2021. The openings take the company’s store count to 821.
Tommy Hilfiger To Open One Store
Apparel retailer Tommy Hilfiger plans to open one store in The Mall at Cribbs Causeway shopping center in Bristol by the end of 2021. The store will span 2,650 square feet and will take the company’s store count to 44 in the UK.
Non-Store-Closure News
ASOS CEO To Step Down
Online apparel retailer ASOS has announced that CEO Nick Beighton will step down, effective immediately. The announcement comes as ASOS warns that the supply chain crisis is affecting its profits. The company has not named a successor.
[caption id="attachment_134485" 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_134486" 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 three store openings and are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=1350 table_view=regular]
Source: Company reports/Coresight Research [caption id="attachment_134487" 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_134488" 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.