DIpil Das
The US
2021 Major US Store Closures and Openings This week, we discuss updates for Amazon, Hy-Vee, Kohl’s, Macy’s, Market Basket, Primark and Rite Aid. In light of these updates, our 2021 US closures and openings counts stand at 5,109 and 5,085, respectively. 2022: So far, we have tracked 729 closures and 598 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 51 of 2021, ended December 24, 2021, to closures and openings tracked up to week 52 of 2020, ended December 25, 2020. Year to date in 2021, major retailers have announced 55.4% more openings and 40.5% fewer closures compared to the same period in 2020. Year to date, closures are ahead of openings by 0.5%—compared to being ahead by 162.3% at the same time last year.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=357]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=358]
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 La Habra, California, on December 16, 2021. The store spans 40,000 square feet and takes the company’s 2021 openings count to 19 and its overall Amazon Fresh store count to 23. Hy-Vee To Open 20 Stores Supermarket chain Hy-Vee plans to open 20 stores over two years starting in 2022. We estimate that the openings will be evenly distributed in 2022 and 2023, making the company’s 2022 openings count to 10. The company operates 287 stores as of December 24, 2021. Kohl’s To Close One Store Department store chain Kohl’s plans to close its store in Ridgefield, Connecticut, on January 16, 2022. The company operates 305 stores as of October 30, 2021. The closure will take the company’s store count to 1,161 stores. Market Basket To Open One Store Supermarket chain Market Basket plans to open one store in Hanover, New Hampshire, within the first two months of 2022. The store will take the company’s store count to 91. Primark To Open Three Stores Apparel retailer Primark plans to open three stores in New York State in 2022. The stores will be located in Brooklyn, Long Island and Westmere. The openings will take the company’s store count in the US to 16.Quarterly Store Openings/Closures Settlement
Macy’s Provides Store-Count Update Department store chain Macy’s closed 51 stores in 2020 and 15 stores in 2021. In 2020, the company announced plans to close 125 stores in three years. The update takes the closure count for 2022 to 59. The company operates 517 stores as of October 31, 2021. Rite Aid Provides Store-Count Update Drugstore chain Rite Aid closed 14 stores and opened two stores in the first 10 months of 2021. The company has also begun a store closure plan of closing 63 stores over a one-year period starting November 2021. We estimate that 11 of the 63 closures took place in 2021. The update takes the company’s closures counts for 2021 and 2022 to 25 and 52, respectively. The company operates 2,400 stores as of November 30, 2021.Non-Store-Closure News
Claire’s Hires New Chief Marketing Officer Apparel retailer Claire’s has appointed Kristin Patrick as Chief Marketing Officer (CMO), effective December 15, 2021. Patrick had served as interim CMO at apparel retailer Torrid since 2019. 2021 Major US Store Closures and Openings [caption id="attachment_138527" 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 15 store closures and are not included in the chart.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_138528" 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 are not included in the chart.
Source: Company reports/Coresight Research [/caption] 2022 Major US Store Closures and Openings [caption id="attachment_138529" 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, Macy’s, Michael Kors and Signet Jewelers. Source: Company reports/Coresight Research [/caption] [caption id="attachment_138530" align="aligncenter" width="699"]
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=1547]
Source: Company reports/Coresight Research This week saw an update for Macy’s that changed our 2020 closure count to 9,698. [caption id="attachment_138531" 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 are not included in the chart.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_138532" 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=1548]
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=1549]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 Monsoon Accessorize, Poundstretcher, Rituals, The Range and Screwfix. In light of these updates, our 2021 UK closures and openings counts stand at 1,507 and 1,094, respectively. 2022: So far, we have tracked 230 closures and 247 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 51 of 2021, ended December 24, 2021, to closures and openings tracked up to week 52 of 2020, ended December 25, 2020. Year to date in 2021, major UK retailers have announced 104.9% more openings and 40.8% fewer closures compared to the same time last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=359]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=360]
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
Monsoon Accessorize To Close One Store Apparel retailer Monsoon Accessorize plans to close one store in Weymouth on January 5, 2022. The closure will take the company’s store count to 136. Poundstretcher Opens One Store Discount retailer Poundstretcher opened one store in Crewe on December 21, 2021. The opening takes the company’s year-to-date openings count to 15, and its store count to 359. The Range To Open Two Stores Home-goods retailer The Range plans to open two stores, one each in Hull and Oldham on December 26, 2021. The openings will take the company’s store count to 202. Rituals To Open One Store Beauty brand Rituals plans to open one store in the Liverpool ONE shopping center in early January 2022. The opening will take the company’s store count to 40. Screwfix Provides Store-Count Update Home-improvement retailer Screwfix is set to open 70 stores by the end of its fiscal year, ending early February 2022. The company exceeded its initial target of 50 store openings for its current fiscal year and the update takes the company’s openings counts for 2021 and 2022 to 70 and six, respectively. The Kingfisher-owned chain operates 329 stores as of December 24, 2021.Non-Store-Closure News
Selfridges Acquisition To Be Finalized The owners of department store chain Selfridges, the Weston family, are reportedly close to finalizing a £4 billion ($5.3 billion) deal to sell the department store chain to a joint venture between Thailand-based Central Group and Austria-based Signa Group. The Weston family is reportedly seeking to close the deal before the end of 2021. [caption id="attachment_138533" 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_138534" 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_138535" align="aligncenter" width="699"]
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_138536" align="aligncenter" width="701"]
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=1552]
Source: Company reports/Coresight Research
[caption id="attachment_138537" 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 are not included in the chart.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_138538" 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.