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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Barton’s Home Outlet, Chanel, Ralph Lauren, Save A Lot, Sleep Number and Warby Parker. In light of these updates, our 2021 US closures and openings counts stand at 5,009 and 5,056, 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 44 of 2021, ended November 5, 2021, to closures and openings tracked up to week 45 of 2020, ended November 6, 2020. Year to date in 2021, major retailers have announced 59.5% more openings and 37.1% fewer closures compared to the same period in 2020. Year to date, openings are ahead of closures by 0.9%—compared to being 151.4% behind at the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=327]
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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
Barton’s Home Outlet To Open Two Stores Discount home-improvement retailer Barton’s Home Outlet opened one store in Evansville, Indiana, in May 2021 and plans to open one store in Johnson City, Tennessee in mid-November 2021. The openings will take the company’s store count to 101. Chanel Opens Two Stores Luxury brand Chanel opened one store in Washington, DC, in July 2021 and one store in Plano, Texas, on October 18, 2021. The openings take the company’s store count to 27 in the US. Save A Lot To Close One Store Discount supermarket chain Save A Lot plans to close its store in St. Louis County, Missouri, on November 6, 2021. The company operates over 1,300 stores as of November 5, 2021. Warby Parker Opens One Store Eyewear retailer Warby Parker opened one store in the Mall at Short Hills in Millburn, New Jersey, on October 30, 2021. The opening takes the company’s store count to 157.Quarterly Store Openings/Closures Settlement
Ralph Lauren Provides Store-Count Update Apparel retailer Ralph Lauren opened two North American stores in its second quarter, ended September 25, 2021. The update takes the company’s 2021 openings count to three. The company operates 235 stores in North American as of September 25, 2021. Sleep Number Provides Store-Count Update Mattress retailer Sleep Number opened 18 stores and closed seven in its third quarter, ended October 2, 2021. The update takes the company’s 2021 openings and closures counts to 55 and 25, respectively. The company operates 632 stores as of October 2, 2021.Non-Store-Closure News
Glossier Appoints New CFO, Chief Commercial Officer Beauty retailer Glossier has appointed Seun Sodipo as CFO, effective February 2022, and Kyle Leahy in the newly created role of Chief Commercial Officer, effective November 29, 2021. Sodipo will succeed Vanessa Wittman, who is set to retire in spring 2022 and will serve in an advisory position afterward. Sodipo currently serves as Head of Product Finance and Strategy at financial technology firm Stripe. Leahy most recently served as GM of North American for apparel company Cole Haan.2021 Major US Store Closures and Openings [caption id="attachment_135469" 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_135470" 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=1412]
Source: Company reports/Coresight Research
[caption id="attachment_135483" 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_135484" 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=1413]
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=1414]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 Dunelm, Foot Locker, Luke 1977 and TOAST. We have also revised last week’s change to Marks & Spencer’s 2021 closures count to 25 from 55. In light of these updates, our 2021 UK closures and openings counts stand at 1,494 and 1,000, 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 44 of 2021, ended November 5, 2021, to closures and openings tracked up to week 45 of 2020, ended November 6, 2020. Year to date in 2021, major UK retailers have announced 92.3% more openings and 32.3% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=329]
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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
Dunelm To Open One Store Home and office retailer Dunelm plans to open one store in Flemingate Shopping Centre in Beverley by the end of November 2021. The store will be located in a former Debenhams department store and span 41,000 square feet. It will take the company’s store count to 172. Foot Locker To Open One Store Sportswear retailer Foot Locker plans to open one flagship store in Cabot Circus shopping center in Bristol in mid-November 2021. The opening will take the company’s store count to 63 in the UK. Luke 1977 Opens One Store Menswear clothing brand Luke 1977 opened one store in The Boulevard outlet center in Banbridge on October 30, 2021. The store spans 1,260 square feet and takes the company’s store count to 16. TOAST To Open One Store Apparel retailer TOAST plans to open one store in Marlow by the end of November 2021. The store opening will take the company’s store count to 18.Non-Store-Closure News
French Connection Takeover Offer Approved by Shareholders Apparel retailer French Connection has announced that its shareholders have approved a £29 million ($39.5 million) takeover bid from the newly created private equity firm MIP Holdings—which includes French Connection’s second-largest shareholder, Apinder Singh Ghura, who bought a 25.4% stake in the company in February. Stephen Marks, the company’s CEO, Chairman, Co-Founder and largest shareholder—who currently holds a 41.5% stake—stated he will step down once the deal is complete. [caption id="attachment_135492" 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_135493" 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=1417]
Source: Company reports/Coresight Research
[caption id="attachment_135495" 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_135496" 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.