Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss updates for Boot Barn, Designer Brands, Dillard’s, Dollar General, GameStop, Guess?, J.Jill, Kirkland's, Rally House, Shoe Carnival, Signet Jewelers, Warby Parker, Whole Foods Market and Williams-Sonoma. In light of these updates, our 2022 US closures and openings counts stand at 1,344 and 3,614, 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 12 of 2022 and 2021, ended March 25, 2022, and March 26, 2021, respectively. Year to date in 2022, major US retailers have announced 7.4% more openings and 56.4% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=407]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=408]
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
Boot Barn Opens One Store Footwear retailer Boot Barn opened one store in McKinney, Texas, on March 18, 2022. The opening takes the company’s store count to 298. Dillard’s Opens One Store Department store chain Dillard’s opened one store in Orem, Utah, on March 16, 2022. The opening takes the company’s store count to 280. Rally House Opens One Store Sports and merchandise retailer Rally House opened one store in Woodhaven, Michigan, on March 19, 2022. The opening takes the company’s store count to 36. Whole Foods Market Opened One Store Grocery retailer Whole Foods Market opened one store in Sherman Oaks, California, on March 16, 2022. The opening takes the company’s store count to 514.Quarterly Store Openings/Closures Settlement
Designer Brands Provides Store-Count Update Footwear retailer Designer Brands closed 17 stores in 2021. The company operates 508 stores as of January 30, 2022. Dollar General Provides Store-Count Update Dollar store chain Dollar General opened 1,039 stores and closed 92 in 2021, and has opened 84 stores and closed 12 year to date in 2022. The company also plans to open 1,110 stores in its fiscal year, ending early February 2023, of which we estimate 1,018 will take place in calendar year 2022. Including the 84 already opened, the update takes the company’s 2022 openings count to 1,102. The company operates 18,130 stores as of January 28, 2022. GameStop Provides Store-Count Update Video game retailer GameStop closed 198 stores in 2021 and has closed 15 year to date in 2022. The company operates 3,018 stores in the US as of January 29, 2022. Guess? Provides Store-Count Update Apparel brand owner Guess? opened one store and closed 21 in 2021, and has opened one store year to date in 2022. The company operates 245 stores as of January 29, 2022. J.Jill Provides Store-Count Update Apparel retailer J.Jill closed 15 stores in 2021 and has closed two year to date in 2022. The company plans to close an additional 10 stores in its fiscal year ending early February 2023, of which we estimate nine will fall in calendar 2022, taking its 2022 closure count to 11. The company operates 253 stores as of January 29, 2022. Kirkland’s Provides Store-Count Update Furniture retailer Kirkland’s opened four stores and closed 18 in 2021, and has closed three stores year to date in 2022. The company operates 361 stores as of January 29, 2022. Shoe Carnival Provide Store-Count Update Footwear retailer Shoe Carnival opened 22 stores and closed 10 in 2021, and has closed two stores year to date in 2022. The company plans to open 10 stores in its fiscal year ending early February 2023, of which we estimate nine will take place in calendar 2022. The company operates 393 stores as of January 29, 2022. Signet Jewelers Provides Store-Count Update Jewelry retailer Signet Jewelers opened 91 stores and closed 81 in North America in 2021, and has opened 19 stores and closed 18 year to date in 2022. In addition, the company plans to open 88 stores and close 88 in North America in its fiscal year ending early February 2023, of which we estimate 81 stores closures and 81 openings will fall in calendar 2022, taking the 2022 openings and closure counts to 100 and 99, respectively. The company operates 2,506 stores in North America as of January 29, 2022. Warby Parker Provides Store-Count Update Online eyewear retailer Warby Parker opened 35 stores in 2021 and plans to open 40 in 2022. The company operates 158 stores as of December 31, 2021. Williams-Sonoma Provides Store-Count Update Furniture retailer Williams-Sonoma opened 11 stores and closed 47 in 2021, and has closed 12 stores and opened one year to date in 2022. The company operates 544 stores in the US as of January 30, 2022.Non-Store-Closure News
Neiman Marcus Hires CFO Department store chain Neiman Marcus appointed Katie Anderson as its VP and CFO effective April 4, 2022. Anderson served as CFO at apparel brand owner Guess? since 2019. Anderson succeeds Brandy Richardson, who left the company in November 2021. 2022 Major US Store Closures and Openings [caption id="attachment_144031" 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_144032" 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 HomeGoods, Homesense, Marmaxx (T.J. Maxx and Marshalls) and 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 US totals above, as the companies did not provide details on timing or location. [wpdatatable id=1841]
Source: Company reports/Coresight Research
This week saw updates for Designer Brands, Dollar General, GameStop, Guess?, J.Jill, Kirkland’s, Shoe Carnival, Signet Jewelers, Warby Parker and Williams-Sonoma, which take the 2021 closures and openings counts to 5,125 and 5,013, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_144033" 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 Bloomingdale’s, Bluemercury and Macy’s banners. Ascena Retail Group includes Ann Taylor, Catherines, Justice, 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_144034" 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 HomeGoods, Homesense, Marmaxx (T.J. Maxx and Marshalls) and Sierra 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=1842]
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 Adidas, Peacocks and River Island. In light of these updates, our 2022 UK closures and openings counts stand at 369 and 444, 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 12 of 2022 and 2021, ended March 25, 2022, and March 26, 2021, respectively. Year to date in 2022, major UK retailers have announced 23.0% more openings and 67.8% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=409]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=410]
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
Adidas Opens One Store Apparel and footwear brand owner Adidas opened one Factory Outlet store in Swindon on March 24, 2022. The opening will take the company’s UK store count to 30. Peacocks Closes Two Stores Apparel retailer Peacocks closed one store in Stroud on March 11, 2022, and one store in Elephant and Castle, London, in early March 2022. The company operates 344 UK stores as of March 25, 2022. Poundstretcher Provides Store-Count Update Discount retailer Poundstretcher has opened three stores year to date in 2022. The company operates 353 stores as of March 25, 2022. River Island To Close One Store Apparel retailer River Island plans to close one store in Hull in April 2022. The closure will take the company’s store count to 257.Non-Store-Closure News
TM Lewin Falls Into Administration Online menswear retailer TM Lewin collapsed into administration and appointed Will Wright and Chris Pole from Interpath Advisory as administrators on March 17, 2022. The company previously went into administration in July 2020, leading it to close all its stores and move fully online. The administrators are currently exploring options for the business including a sale of the company and its assets. [caption id="attachment_144037" 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 Jack’s and Tesco stores.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_144038" 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 The table below details announced openings and closures not included in our UK totals above, as the companies did not provide details on timing or location. [wpdatatable id=1845]
Source: Company reports/Coresight Research
[caption id="attachment_144039" 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_144040" 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.