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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Daiso Japan, Dollar General, Five Below, Hibbett Sports, Hy-Vee, IKEA, Kirkland’s, Kroger, Lands’ End, Publix Super Markets, Save A Lot, Shoe Carnival, Tiffany & Co, Tilly’s, Toys“R”Us, Ulta Beauty and Wayfair. In light of these updates, our 2021 US closures and openings counts stand at 5,090 and 5,070, respectively. 2022: So far, we have tracked 619 closures and 582 openings for 2022. Charted breakdowns are shown later in the report. 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 49 of 2021, ended December 10, 2021, to closures and openings tracked up to week 50 of 2020, ended December 11, 2020. Year to date in 2021, major retailers have announced 56.7% more openings and 39.1% fewer closures compared to the same period in 2020. Year to date, closures are ahead of openings by 0.4%—compared to being ahead by 156.1% at the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=349]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=350]
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
Daiso Japan To Open Two Stores Japan-based variety store retailer Daiso Japan has opened three stores year to date and plans to open two stores in early 2022. This will take the company’s store count to 82 stores in the US. Kroger To Close One Store Supermarket chain Kroger plans to close one Harris Teeter store in Washington, D.C., on January 22, 2022. Kroger operates 2,736 stores as of December 10, 2021. Hy-Vee To Close Two Stores Supermarket chain Hy-Vee plans to close two stores in January 2022. The retailer will close one store and will repurpose the other into a non-retail site. The closures will take the company’s store count to 277 stores. IKEA To Close One Store Home-furnishings retailer IKEA plans to close its store in New York City on December 18, 2021. The closures will take the company’s store count in the US to 51. Tiffany & Co Opens One Store Jewelry retailer Tiffany & Co opened one store in the American Dream shopping center in East Rutherford, New Jersey on December 6, 2021. The opening takes the company’s store count to 95. Toys“R”Us Opens Flagship Store Toy retailer Toys“R”Us opened one flagship store in the American Dream shopping center in East Rutherford, New Jersey, on December 1, 2021. The store spans 20,000 square feet and is the retailer’s first store in the US after the closure of both of its stores in January 2021 after a failed relaunch attempt by its then parent company Tru Kids. Brand management company WHP Global acquired the brand in March 2021. Publix Super Markets Closes Three Stores Supermarket chain Publix Super Markets has closed three GreenWise organic stores year to date. The company operates 1,281 stores as of December 10, 2021. Save A Lot To Close One Store Discount supermarket chain Save A Lot plans to close its store in St. Louis County, Missouri, on December 24, 2021. The company operates over 1,300 stores as of December 10, 2021. Wayfair To Open Three Stores Home-furnishings retailer Wayfair plans to open three stores in Massachusetts in 2022. The openings will take the company’s store count to four.Quarterly Store Openings/Closures Settlement
Dollar General Provides Store-Count Update Discount retailer Dollar general opened 268 stores and closed 36 in its third quarter, ended October 29, 2021. The openings have been previously tracked and the update takes the company’s 2021 closures count to 67. The company operates 17,915 stores as of October 29, 2021. Five Below Provides Store-Count Update Discount retailer Five Below has opened 172 stores and closed 13 year to date. The company completed its fiscal year store openings target and we have revised our 2022 estimate for the company. The company operates 1,173 stores as of December 1, 2021. Hibbett Sports Provides Store-Count Update Sporting goods retailer Hibbett Sports opened seven stores and closed one in its third quarter, ended October 30, 2021. The update takes the company’s 2021 store openings and closures counts to 27 and 12, respectively. The company operates 1,086 stores as of October 30, 2021. Kirkland’s Provides Store-Count Update Furniture retailer Kirkland’s plans to close eight stores in its fourth quarter, ending early February 2022. The update takes the company’s 2021 and 2022 closures counts to 14 and three, respectively. The company operates 269 stores as of October 30, 2021. Lands’ End Provides Store-Count Update Apparel retailer Lands’ End opened seven stores in 2020 and closed one store in 2021. The company operates 31 stores as of October 29, 2021. Tilly’s Provides Store-Count Update Apparel retailer Tilly’s closed one store in its third quarter, ended October 30, 2021. The company also plans to open 15–20 stores in its coming fiscal year, ending early February 2023. The update takes the company’s 2021 closures count to three and 2022 openings count to 14. The company operates 243 stores as of October 29, 2021. Ulta Beauty Provides Store-Count Update Beauty retailer Ulta Beauty opened seven stores and closed one in its third quarter, ended October 31, 2021. The update takes the company’s 2021 closures and openings count to four and 44, respectively. The company operates 1,302 stores as of October 31, 2021.Non-Store-Closure News
Sheetz Appoints New CEO Convenience store chain Sheetz has announced the appointment Travis Sheetz to President and CEO, effective January 2022. Travis Sheets succeeds Joe Sheetz, who will transition to Executive Vice Chairman of the company. Travis Sheetz currently serves as President and COO. Shoe Carnival Acquires Shoe Station Shoe retailer Shoe Carnival acquired footwear retailer Shoe Station on December 3, 2021, for $67 million. The deal includes Shoe Station’s 21 stores. The stores will continue to operate under the Shoe Station brand. 2021 Major US Store Closures and Openings [caption id="attachment_137721" 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 14 store closures and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_137722" 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 16 store openings and so are not included in the chart.
Source: Company reports/Coresight Research[/caption] 2022 Major US Store Closures and Openings [caption id="attachment_137723" 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, CVS Health, Designer Brands, Michael Kors and Signet Jewelers.Source: Company reports/Coresight Research[/caption] [caption id="attachment_137724" 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, Dollar Tree, Family Dollar, Foxtrot Market, Signet Jewelers and Windsor Fashion. TJX Companies includes Marmaxx (T.J. Maxx and Marshalls), HomeGoods, Sierra, and Homesense stores. Amazon includes Amazon Fresh stores.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=1528]
Source: Company reports/Coresight Research
This week saw an update for Lands’ End, which changed our 2020 openings count to 3,704. [caption id="attachment_137729" 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_137731" 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=1529]
N/A – Not Available *Belk emerged from bankruptcy in February 2021 **The Collected Group emerged from bankruptcy in June 2021 ***Global Brands Group began winding down its business in November 2021 Source: Company reports/Coresight Research
2020 Major US Retail Bankruptcies [wpdatatable id=1530]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. The company exited bankruptcy in December 2020. N/A – Not Available Source: Company reports/Coresight Research
The UK
2021 Major UK Store Closures and Openings This week, we discuss updates for Flying Tiger Copenhagen, Just for Pets, Marks & Spencer and Shoe Zone. In light of these updates, our 2021 UK closures and openings counts stand at 1,506 and 1,048, respectively. 2022: So far, we have tracked 229 closures and 221 openings for 2022. Charted breakdowns are shown later in the report. 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 49 of 2021, ended December 10, 2021, to closures and openings tracked up to week 50 of 2020, ended December 11, 2020. Year to date in 2021, major UK retailers have announced 96.3% more openings and 37.5% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=351]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=352]
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
Flying Tiger Copenhagen To Open Two Stores Danish variety retailer Flying Tiger Copenhagen opened one store in Meadowhall shopping center in Sheffield on December 3, 2021, and plans to open one store in Leeds by the end of December 2021. The openings will take the company’s store count to 85. Just for Pets To Open One Store Pet retailer Just for Pets plans to open one store in Ventura Retail Park in Tamworth on December 11, 2021. The opening will take the company’s store count to 18. Marks & Spencer Plans Closures Marks & Spencer reported plans to open 35 new full-line stores and close 65 full-line stores over a period of up to 10 years as part of its multiyear store rotation plan in May 2021. We estimate that the plan will start in its next fiscal year, beginning March 2022. As a result, we have updated the company’s 2022 openings and closure counts to three and 12, respectively. Shoe Zone To Open One Store Shoe retailer Shoe Zone plans to open one store in Southampton on December 11, 2021. The opening will take the company’s store count to 407.Non-Store-Closure News
Walgreens Boots Alliance Looks To Sell Boots Pharmacy Chain Walgreens Boot Alliance is currently in talks with financial advisers at investment firm Goldman Sachs to look into a potential sale of its Boots Pharmacy chain. The Boots Pharmacy chain has over 2,200 stores in the UK and employs over 55,000 employees. [caption id="attachment_137741" 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_137742" 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] [caption id="attachment_137743" 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 Argos, Marks & Spencer, McColl’s and Truworth.Source: Company reports/Coresight Research[/caption] [caption id="attachment_137744" 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 Aldi, Home Bargains, Lidl, Mere, The Original Factory Shop and Screwfix.Source: Company reports/Coresight Research[/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=1533]
Source: Company reports/Coresight Research
[caption id="attachment_137745" 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_137746" 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 B2C retail closures, so closures by solely B2B companies are excluded.