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The US
2021 Major US Store Closures and Openings This week, we discuss updates for Aldi, Dollar General, Indochino, Kwik Trip, Payless, Plow & Hearth, Thorntons and World Market. In light of these updates, our 2021 US closures and openings counts stand at 5,110 and 5,049, respectively. We plan to publish a full review of 2021 and an outlook for 2022 in January 2022. We revised the Payless store opening count from 60 to one, based on the company’s website. 2022: So far, we have tracked 731 closures and 1,766 openings for 2022. At the same time last year, we tracked 1,425 closures and 1,798 openings. Charted breakdowns are shown later in this report. The charts below depict the week-by-week totals of announced US store closures and openings in 2021 and 2020. For year-over-year comparisons, we are comparing closures and openings up to week 52 of 2021, ended December 31, 2021, to closures and openings tracked up to week 53 of 2020, ended January 1, 2021. In 2021, major retailers announced 53.0% more openings and 41.5% fewer closures compared to the same period in 2020. Closures in 2021 outnumbered openings by 1.2%—compared to 164.7% in 2020.2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=361]
2020 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=362]
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
Indochino To Open 21 Stores Apparel retailer Indochino plans to have 100 stores by the end of 2022. The retailer operates 79 stores, as of December 31, 2021. Plow & Hearth To Close One Store Furniture and home-furnishing retailer Plow and Hearth plans to close one store in Susquehanna Township, Pennsylvania in January 2022. The closure will take the company’s store count to 23. Thorntons Opens One Store Convenience store chain Thorntons opened a store in Murfreesboro, Tennessee on December 20, 2021.The opening takes the company’s store count to 209. World Market To Close One Store Furniture retailer World Market plans to close a store in El Paso, Texas in January 2022. The closure will take the company’s store count to 242.Quarterly Store Openings/Closures Settlement
Aldi Provides Store-Count Update Discount supermarket chain Aldi opened 78 stores in 2021 and plans to open five stores in early 2022. The company operates 2,150 stores, as of December 31, 2021. Dollar General Provides Store-Count Update Discount retailer Dollar General plans to open 252 stores in its fourth quarter ending early February 2022 and 1,100 stores in its fiscal year ending early February 2023. The company opened 871 stores in the year as of October 31, 2021. The update takes the company’s 2021 and 2022 openings count to 1,039 and 1,102, respectively. The company operates 17,915 stores, as of October 31, 2021. Kwik Trip Provides Store-Count Update Convenience store chain Kwik Trip opened 40 stores and closed one in 2021. The company plans to open 40 stores annually moving forward. Kwik Trip operates 800 stores, as of December 31, 2021.Non-Store-Closure News
Crocs To Acquire Heydude Footwear retailer Crocs has signed an agreement to acquire casual footwear brand Heydude for $2.5 billion. Crocs estimates that Heydude’s revenue will total $570 million in 2021 and $750 million in 2022, and that it will surpass $1 billion by 2024. 2021 Major US Store Closures and Openings [caption id="attachment_138676" 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_138677" 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_138678" 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_138679" 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=1579]
Source: Company reports/Coresight Research
[caption id="attachment_138680" 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_138681" 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=1580]
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=1581]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 an update for Toolstation. In light of this update, our 2021 UK closures and openings counts stand at 1,507 and 1,123, respectively. 2022: So far, we have tracked 230 closures and 247 openings for 2022. At the same time last year, we tracked 270 closures and 261 openings. Charted breakdowns are shown later in this report. The charts below depict the week-by-week totals of UK store closures and openings in 2021 and 2020. For year-over-year comparisons, we are comparing closures and openings up to week 52 of 2021, ended December 31, 2021, to closures and openings tracked up to week 53 of 2020, ended January 1, 2021. In 2021, major UK retailers announced 110.3% more openings and 40.8% fewer closures compared to last year.2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=363]
2020 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=364]
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
Toolstation Opens 62 Stores Home-improvement retailer Toolstation opened 62 stores in 2021. The company operates 530 stores, as of December 31, 2021.Non-Store-Closure News
Seraphine Hires New CFO Maternity brand Seraphine appointed Lee Williams as CFO. He is set to join the company in the first half of 2022. Williams is currently serving as CFO at apparel retailer French Connection. Williams will replace John Bailey, who served as CFO since 2014. [caption id="attachment_138694" 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_138695" 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_138696" 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_138697" 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=1584]
Source: Company reports/Coresight Research
[caption id="attachment_138698" 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_138699" 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.