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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Amazon, Fleet Feet, Gorjana, Lumber Liquidators, Office Depot, Primark, Shoppers, Sprouts Farmers Market and Watches of Switzerland. In light of these updates, our 2021 US closures and openings counts stand at 5,017 and 5,070, 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 45 of 2021, ended November 12, 2021, to closures and openings tracked up to week 46 of 2020, ended November 13, 2020. Year to date in 2021, major retailers have announced 59.9% more openings and 38.0% fewer closures compared to the same period in 2020. Year to date, openings are ahead of closures by 1.1%—compared to closures being ahead of openings by 155.2% at the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=331]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=332]
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 One Store Amazon opened one Amazon Fresh store in Westmont, Illinois, on November 4, 2021. The store spans 35,000 square feet and takes the company’s 2021 overall openings count to 17 and its Amazon Fresh store count to 21. Fleet Feet To Acquire JackRabbit and To Open Two New Stores Footwear retailer Fleet Feet signed an agreement to acquire specialty running retailer JackRabbit on November 11, 2021. The acquisition includes all of JackRabbit’s 56 stores and its e-commerce business. The stores will be rebranded as Fleet Feet stores in 2022. The company recently acquired three stores from FitNiche. It has opened five stores year to date and will open two stores by the end of 2021. The store openings will take the company’s store count to 190. Gorjana To Open Four Stores Jewelry retailer Gorjana plans to open four stores by the end of 2021. The openings will take the company’s store count to 27. Primark To Open 47 Stores Apparel retailer Primark plans to increase its US store count from 13 to 60 over the next five years. We estimate that two of these stores will open by the end of 2021. The openings will take the company’s 2021 openings count to six and its US store count to 15. Shoppers To Close One Store Grocery store chain Shoppers plans to close its store in Fairfax, Virginia, by the end of November 2021. The closure will take the company’s store count to 20.Quarterly Store Openings/Closures Settlement
Lumber Liquidators Provides Store-Count Update Home-improvement retailer Lumber Liquidators opened six stores in its third quarter, ended September 30, 2021. The update takes the company’s 2021 openings count to 13. The company operates 422 stores as of September 30, 2021. Office Depot Provides Store-Count Update Office supplies retailer Office Depot closed seven stores in its third quarter, ended September 25, 2021. The update takes the company’s 2021 closures count to 70. The company operates 1,084 stores as of September 25, 2021. Sprouts Farmers Market Provides Store-Count Update Grocery retailer Sprouts Farmers Market opened three stores in its third quarter, ended October 3, 2021. The company plans to open nine stores in its fourth quarter. The update will take the company’s 2021 openings count to 13. The company operates 366 stores as of October 3, 2021. Watches of Switzerland Provides Store-Count Update Watch retailer Watches of Switzerland opened six stores in the first half of its fiscal year, ended October 31, 2021. The update will take the company’s 2021 openings count to nine. The company operates 14 stores in the US as of October 31, 2021.Non-Store-Closure News
Global Brands To Wind Down The US branch of apparel brand management company Global Brands Group will wind down its business from November 5, 2021, following a court order. The company filed for bankruptcy on July 30, 2021. 2021 Major US Store Closures and Openings [caption id="attachment_135949" 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_135956" 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=1435]
Source: Company reports/Coresight Research
[caption id="attachment_135970" 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_135971" 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=1436]
N/A – Not Available *Belk emerged from bankruptcy in February 2021 **The Collected Group emerged from bankruptcy in June 2021 ***Global Brands Group begins to wind down its business in November 2021. Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=1437]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, Company Shop, Hobbycraft, House of Fraser, Marks & Spencer, Primark and Smyths Toys. In light of these updates, our 2021 UK closures and openings counts stand at 1,493 and 1,008, 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 45 of 2021, ended November 12, 2021, to closures and openings tracked up to week 46 of 2020, ended November 13, 2020. Year to date in 2021, major UK retailers have announced 93.9% more openings and 36.3% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=333]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=334]
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 To Open One Store Amazon plans to open one Amazon Fresh store in Holborn, London by the end of November 2021. The opening takes the company’s store count in the UK to eight. Company Shop To Open One Store Supermarket chain Company Shop plans to open one store in Birmingham on December 2, 2021. The opening will take the company’s store count to 15. Hobbycraft To Open One Store Arts and crafts retailer Hobbycraft plans to open one store in Wimbledon on November 30, 2021. The opening will take the company’s 2021 openings count to eight and overall store count to 111. House of Fraser To Close One Store Department store chain House of Fraser plans to close its store in Swindon in December 2021. The closure will take the company’s store count to 42. Marks & Spencer Provides Store-Count Update Marks & Spencer closed 12 stores and opened seven in its half year ended September 21, 2021. The company plans to close an additional 15 stores in its second half, ending March 2022. We estimate that the update takes the company’s calendar 2021 openings and closures counts to 10 and 23, respectively. The company operates 1,032 stores in the UK as of September 21, 2021. Primark To Open 15 Stores Apparel retailer Primark plans to open 15 stores in its coming fiscal year, ending September 2022. We estimate that the retailer will open one of the stores in the UK in calendar 2021. The openings will take the company’s store count in the UK to 168. Smyths Toys Opens One Store Toy store chain Smyths Toys opened one store in the Merry Hill Shopping Centre outside of Birmingham on November 5, 2021. The opening takes the company’s store count to 114.Non-Store-Closure News
Clarks CEO Steps Down Footwear retailer Clarks has announced that its CEO Victor Herrero has stepped down from his position, effective November 8, 2021. Herrero served nine months as CEO. He will remain at Clarks as a Director, and Chairman Johnny Chen will take over as interim CEO. [caption id="attachment_135977" 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_135978" 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.>br?*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=1440]
Source: Company reports/Coresight Research
[caption id="attachment_135979" 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_135980" 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.