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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Allbirds, Coborn’s, Moosejaw and Hermès. In light of these updates, our 2021 US closures and openings counts stand at 5,001 and 5,034, 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 43 of 2021, ended October 29, 2021, to closures and openings tracked up to week 44 of 2020, ended October 30, 2020. Year to date in 2021, major retailers have announced 58.9% more openings and 37.2% fewer closures compared to the same period in 2020. Year to date, openings are ahead of closures by 0.6%—compared to being 151.1% behind at the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=323]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=324]
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
Allbirds Opens One Store Footwear retailer Allbirds opened one store in Denver, Colorado, on October 21, 2021. The opening takes the company’s store count to 22 in the US. Coborn’s To Open One Store and Acquire Tadych’s Econofoods Supermarket chain Coborn’s plans to open one store in Buffalo, New York, in November 2021. The company also plans to acquire grocery chain Tadych’s Econofoods. The acquisition will include Tadych’s six stores, which will remain under the Tadych’s brand. The deal is set to close in early December 2021. The store acquisitions and the opening will take the company’s store count to 67. Moosejaw To Open One Store Walmart-owned outdoor gear and apparel retailer Moosejaw plans to open one store in Bentonville, Arkansas (where Walmart is headquartered), on October 30, 2021.The store opening will take the company’s store count to 12. Hermès Opens One Store Luxury retailer Hermès opened one store in Aventura Mall in Miami, Florida, on October 1, 2021. The store spans 7,400 square feet and takes the company’s store count to 40.Non-Store-Closure News
JCPenney Appoints New CEO Department store chain JCPenney has appointed Marc Rosen as CEO, effective November 1, 2021. Rosen will take over from Stanley Shashoua, Chief Investment Officer of parent company Simon Property Group, who has served as interim CEO since January 2021. Rosen most recently served as President of the Americas region at apparel brand owner Levi Strauss & Co. 2021 Major US Store Closures and Openings [caption id="attachment_135064" 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_135065" 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=1385]
Source: Company reports/Coresight Research
[caption id="attachment_135066" 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_135067" 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=1386]
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=1387]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 Aldi, B&Q, Cubitts, Decathlon, Dunelm, Farmfoods, Marks & Spencer, One Below and Select. In light of these updates, our 2021 UK closures and openings counts stand at 1,524 and 996, 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 43 of 2021, ended October 29, 2021, to closures and openings tracked up to week 44 of 2020, ended October 30, 2020. Year to date in 2021, major UK retailers have announced 91.5% more openings and 31.0% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=325]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=326]
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
Aldi Closes Two Stores Discount supermarket chain Aldi closed one store in Blackpool in August 2021 and closed one in Ipswich on October 24, 2021. The company operates more than 940 stores as of October 29, 2021. B&Q Opens One Store Home-improvement retailer B&Q opened one store in Colchester on October 22, 2021. The opening takes the company’s store count to 304. Cubitts To Open One Store Spectacle retailer Cubitts plans to open one store in Leeds on November 1, 2021. The opening will take the company’s store count to 11. Decathlon To Open One Store Sports retailer Decathlon plans to open one store in the Regent Arcade shopping center in Cheltenham in late November 2021. The opening will take the company’s UK store count to 48. Dunelm To Open One Store Home-furnishings retailer Dunelm plans to open one store in Yorkshire by the end of the year. The store will span 41,000 square feet across four floors and will take the company’s store count to 171. Farmfoods To Open Two Stores Frozen food supermarket chain Farmfoods plans to open one store in Ipswich in December 2021 and one store in Wick in early November 2021. The company operates over 300 stores as of October 29, 2021. Marks & Spencer Provides Store-Count Update Marks & Spencer has closed 50 full-line stores since the start of its fiscal year on April 4, 2021. The store closures are part of its plans to close 65 full-line stores. The update takes the company’s 2021 closure count to 55. The company operates over 200 full-line stores as of October 29, 2021. One Below Provides Store-Count Update Discount retailer One Below has opened seven stores year to date and plans to open one store in Llanelli on November 3, 2021. The opening will take the company’s store count to 76. Select To Close One Store Apparel retailer Select plans to close its Newport store on October 30, 2021. The closure will take the company’s store count to 127. Zara Opens One Store Apparel retailer Zara opened one store at the One New Change shopping center in London on October 20, 2021. The store spans 23,000 square feet over two floors and takes the company’s store count to 72 in the UK.Non-Store-Closure News
Burberry Appoints New CEO Luxury retailer Burberry has appointed Jonathan Akeroyd as CEO, effective April 1, 2022. Akeroyd will succeed Marco Gobbetti, who will leave the company on December 31, 2021. Akeroyd currently serves as CEO of Versace. [caption id="attachment_135070" 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_135071" 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=1390]
Source: Company reports/Coresight Research
[caption id="attachment_135073" 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_135074" 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.