Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss updates for Alimentation Couche-Tard, Casey’s, The Children’s Place, Citi Trends, Express, Fossil Group, Kmart, Rent-A-Center, Shoe Station, Tilly’s, Ulta Beauty, Vera Bradley, Von Maur, Window World and Winn Dixie. In light of these updates, our 2022 US closures and openings counts stand at 1,282 and 3,546, respectively. The charts below depict the week-by-week totals of US store closures and openings year to date in 2022 and 2021. For year-over-year comparisons, we are comparing closures and openings up to week 11 of 2022 and 2021, ended March 18, 2022, and March 19, 2021, respectively. Year to date in 2022, major US retailers have announced 8.8% more openings and 50.6% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=403]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=404]
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
Express To Open Nine Stores Apparel retailer Express plans to open nine stores by the end of 2022. The openings will take the company’s store count to 373. Kmart To Close One Store Mass merchandiser Kmart plans to close one store in Avenel, New Jersey, by the end of the first half of 2022. The closure will take the company’s store count to three in the continental US and six across US territories. Shoe Station Opens One Store Shoe retailer Shoe Station opened one store in Fairhope, Alabama, on March 11, 2022. The opening takes the company’s store count to 21. Von Maur To Open One Store Department store chain Von Maur plans to open one store in Rochester Hills, Michigan, on March 19, 2022. The opening will take the company’s store count to 36. Window World To Open One Store Home-improvement retailer Window World plans to open one store in Adams, Massachusetts, by the end of 2022. The opening will take the company’s store count to 229. Winn Dixie Opens One Store Grocery retailer Winn Dixie opened one store in Westlake, Florida, on March 2, 2022. The opening takes the company’s store count to 371.Quarterly Store Openings/Closures Settlement
Alimentation Couche-Tard Provides Store-Count Update Convenience store chain Alimentation Couche-Tard opened 175 stores and closed 248 in North America in 2021 and has opened 10 stores and closed 45 in North America year to date in 2022. The company operates 9,166 stores in North America as of January 30, 2022. Casey’s Provides Store-Count Update Convenience store chain Casey’s opened 182 stores and closed 18 in 2021 and has opened 17 stores in 2022. The company operates 2,431 stores as of January 30, 2022. The Children’s Place Provides Store-Count Update Children’s apparel retailer The Children’s Place closed 88 stores in 2021 and has closed 10 stores year to date in 2022. The company plans to close 40 stores in its fiscal year ending early February 2023, 37 of which we estimate will take place in calendar 2022. The update takes the company 2022 closure count to 47. The company operates 672 stores as of January 30, 2022. Citi Trends Provides Store-Count Update Apparel retailer Citi Trends opened 24 stores in 2021 and has opened a further four so far in 2022. The company plans to open 35 stores in its fiscal year ending February 2023, of which we estimate 32 will fall in 2022—taking the company’s 2022 opening count to 36. The company operates 954 stores as of January 30, 2022. Fossil Provides Store-Count Update Watch retailer Fossil closed 23 stores in 2021. The company operates 162 stores in the US as of January 2, 2022. Rent-A-Center Provide Store-Count Update Rent-to-own furniture and electronics retailer Rent-A-Center opened six stores in 2021 and has opened one store year to date in 2022. The company operates 1,846 stores as of January 30, 2022. Tilly’s Provides Store-Count Update Apparel retailer Tilly’s opened nine stores and closed five in 2021 and has closed one store year to date in 2022. The company plans to open 15 stores in its fiscal year ending early February 2023, of which we estimate 14 will fall in calendar 2022. The company operates 1,764 stores as of January 30, 2022. Ulta Beauty Provides Store-Count Update Beauty retailer Ulta Beauty opened 48 stores and closed four in 2021 and plans to open 50 stores in its fiscal year ending early February 2023, of which we estimate 48 will fall in calendar 2022. The company operates 1,308 stores as of January 30, 2022. Vera Bradley Provides Store-Count Update Luxury retailer Vera Bradley opened six stores and closed six in 2021 and has closed one store year to date in 2022. The company also plans to open five stores by the end of 2022. The company operates 145 stores in the US as of January 30, 2022.Non-Store-Closure News
Madison Reed Hires CFO Direct-to-consumer (DTC) beauty brand Madison Reed has appointed Jose Zuniga as its CFO, effective March 11, 2022. Zuniga most recently served as CFO at DTC brand Dollar Shave Club. Zuniga succeeds Carrie Kalinowski, who is currently serving in an advisory role at the company. 2022 Major US Store Closures and Openings [caption id="attachment_143657" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.*Estimated store closures
**Total includes a small number of retailers that each announced fewer than two store openings and are not included in the chart
†Figures pertain to North America closures
Source: Company reports/Coresight Research[/caption] [caption id="attachment_143658" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.*Estimated store openings
**Total includes a small number of retailers that each announced fewer than five store openings and are not included in the chart
†Figures pertain to North America closures
TJX Companies includes Marmaxx (T.J. Maxx and Marshalls), HomeGoods, Sierra, and Homesense stores
Source: Company reports/Coresight Research[/caption] 2022 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=1827]
Source: Company reports/Coresight Research
This week saw updates for Alimentation Couche-Tard, Citi Trends, Casey’s General Stores, Fossil Group, The Children’s Place, Tilly’s, Ulta Beauty and Vera Bradley, which take the 2021 closures and openings counts to 5,057 and 4,962, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_143661" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.*Estimated store closures
**Total includes a small number of retailers that each announced fewer than 15 store closures and are not included in the chart
†Figures pertain to North America closures
Macy’s includes Macy’s, Bluemercury 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.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_143662" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.*Estimated store openings
**Total includes a small number of retailers that each announced fewer than 16 store openings and are not included in the chart
†Figures pertain to North America closures
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.
Source: Company reports/Coresight Research[/caption] 2022 Major US Retail Bankruptcies We have not tracked any major retail bankruptcies so far in 2022. 2021 Major US Retail Bankruptcies [wpdatatable id=1828]
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
The UK
2022 Major UK Store Closures and Openings This week, we discuss updates for Crown Decorating Centre, Dunelm, The Fragrance Shop, Geek Retreat, Iceland, Just for Pets, Kutchenhaus, Orvis, Pavers, Primark, Ritual, Sofology and Ted Baker. In light of these updates, our 2022 UK closures and openings counts stand at 366 and 440, respectively. The charts below depict the week-by-week totals of UK store closures and openings year to date in 2022 and 2021. For year-over-year comparisons, we are comparing closures and openings up to week 11 of 2022 and 2021, ended March 18, 2022, and March 19, 2021, respectively. Year to date in 2022, major UK retailers have announced 25.4% more openings and 67.9% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=405]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=406]
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
Crown Decorating Centre Provides Store-Count Update Home-improvement retailer Crown Decorating Centre opened two stores in 2021 and has opened one store year to date in 2022. The company operates 155 stores as of March 18, 2022. Dunelm To Open One Store Home-furnishings retailer Dunelm plans to open one store in Leeds on April 1, 2022. The company operates over 178 stores as of March 18, 2022. The Fragrance Shop To Open One Store Perfume retailer The Fragrance Shop plans to open one store in Eastgate Shopping Centre in Inverness by the end of March 2022. The opening will take the company’s store count to 214. Geek Retreat To Open One Store Hobby retailer Geek Retreat plans to open one store in Chester in April 2022. The opening will take the company’s store count to 91. Just For Pets To Open One Store Pet retailer Just For Pets plans to open one store in Oxfordshire by the end of March 2022. The opening will take the company’s store count to 22. Kutchenhaus To Open 300 Stores Home-furnishings retailer Kutchenhaus plans to open 300 stores over 10 years. We estimate that 30 will take place in 2022. The company operates 51 stores as of March 18, 2022. Orvis To Close All but One Store Sporting apparel and goods retailer Orvis plans to close 26 of its 27 stores in the UK. The company will only keep its store in Stockbridge open. Pavers To Open One Store Shoe retailer Pavers plans to open one store in Gosport by the end of March 2022. The openings will take the company’s store count to 144. Primark To Open One Store Apparel retailer Primark plans to open one store in the Rushmere Shopping Centre in Craigavon. The opening will take the company’s store count to 168 stores. Rituals Opens One Store Beauty retailer Rituals opened one store in Victoria Centre shopping center in Nottingham on March 10, 2022. The company operates 42 stores in the UK as of March 18, 2022. Sofology To Open One Store Home-furnishings retailer Sofology plans to open one store in Bristol by the end of March 2022. The opening will take the company’s store count to 53. Swift To Open Four Stores Supermarket company Iceland plans to open four Swift convenience stores by the end of 2022. Iceland operates 914 stores through its banners as of March 18, 2021. Ted Baker To Open 30 Stores Apparel retailer Ted Baker plans to open 30 stores over 10 years, three of which we estimate will fall in calendar 2022. The company operates 63 stores as of March 18, 2022.Non-Store-Closure News
Marks & Spencer CEO Steps Down Marks & Spencer has announced that its CEO, Steve Rowe, will step down on May 25, 2022, and will be succeeded by current Chief Operating Officer Stuart Machin. Rowe joined the company in 2007 and has served as CEO since 2016. [caption id="attachment_143670" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.*Estimated store closures
Tesco includes Tesco and Jack’s stores.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_143671" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.*Estimated store openings.
**Total includes a small number of retailers that each announced fewer than two store openings and are not included in the chart
Source: Company reports/Coresight Research[/caption] 2022 Major UK Uncharted Openings and Closures [wpdatatable id=1831]
Source: Company reports/Coresight Research
This week saw an update for Crown Decorating Centre, which took the 2021 openings counts to 1,156. [caption id="attachment_143672" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.*Estimated store closures
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_143673" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur.*Estimated store openings
**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] 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. The deadline for inclusion in each weekly report (published on Fridays) is typically the preceding Wednesday.