Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss updates for Genesco, Hobby Lobby, Marc's, Nordstrom, Ollie's Bargain Outlet, Walmart and WinCo Foods. In light of theseupdates, our 2022 US closures and openings counts stand at 1,385 and 3,694, 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 13 of 2022 and 2021, ended April 1, 2022, and April 2, 2021, respectively. Year to date in 2022, major US retailers have announced 7.7% more openings and 55.3% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=411]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=412]
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
Marc’s To Open One Store Discount retailer Marc’s plans to open one store in Barberton, Ohio, in the first half of 2022. The opening will take the company’s store count to 61. Walmart To Close Two Stores Walmart plans to close one store in Louisville, Kentucky, and one store in Forest Park, Ohio, in April 2022. The closures will take the company’s store count to 5,340 in the US. WinCo Foods Opens One Store Grocery retailer WinCo Foods opened one store in Eugene, Oregon, on March 28, 2022. The opening takes the company’s store count to 137.Quarterly Store Openings/Closures Settlement
Genesco Provides Store-Count Update Apparel specialty retailer Genesco opened six and closed 40 stores in 2021 and has opened one and closed three stores year to date in 2022. The company plans to close 46 and open 41 stores globally in its fiscal year ending early February 2023, of which we expect 36 store closures and 32 store openings to fall in the US in calendar 2022. The update takes the company’s 2022 opening and closure counts to 33 and 39, respectively. The company operates 1,210 stores in the US as of January 29, 2022. Hobby Lobby Provides Store-Count Update Hobby retailer Hobby Lobby has opened seven stores year to date in 2022 with the latest opened in McAlester, Oklahoma, on April 1, 2022. The company operates 971 stores as of April 1, 2022. Ollie’s Bargain Outlet Provides Store-Count Update Discount retailer Ollie’s Bargain Outlet opened 47 and closed three stores in 2021. The company plans to open 42 stores in 2022. The company operates 431 stores as of January 30, 2022. Nordstrom Provides Store-Count Update Department store chain Nordstrom opened one and closed five stores in the US in 2021 and plans to open two stores in the US in 2022. The company operates 354 stores in the US as of January 29, 2022.Non-Store-Closure News
Express Hires CFO Apparel retailer Express announced Jason Judd as Senior VP and CFO effective April 4, 2022. Judd succeeds Perry Pericleous, who stepped down from the CFO role in November 2021. Judd most recently served as Senior VP of Corporate Finance and Treasury at furniture retailer Big Lots. 2022 Major US Store Closures and Openings [caption id="attachment_144667" 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_144668" 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 Genesco, Ollie’s Bargain Outlet and Nordstrom, which take the 2021 closures and openings counts to 5,169 and 5,015, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_144669" 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_144670" 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 Hamleys, Pandora, Peacocks and Rituals. In light of these updates, our 2022 UK closures and openings counts stand at 372 and 446, 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 13 of 2022 and 2021, ended April 1, 2022, and April 2, 2021, respectively. Year to date in 2022, major UK retailers have announced 23.2% more openings and 67.6% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=413]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=414]
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
Hamleys To Close One Store Toy retailer Hamleys plans to close one store in Norwich by the end of April 2022. The closure will take the company’s store count to 29. Pandora Opens One Store Jewelry retailer Pandora opened one store in the Foyelside Shopping Center in Derry on March 24, 2022. The opening takes the company’s store count to 108. Peacocks Provides Store-Count Update Apparel retailer Peacocks has closed four stores so far this year with the latest closed in Helston on March 23, 2022. The company operates 342 stores as of April 1, 2022. Rituals Opens One Store Beauty retailer Rituals opened a store in Heathrow airport, London on March 25, 2022. The opening takes the company’s store count to 43 stores in the UK.Non-Store-Closure News
Fitflop Appoints Chief Commercial Officer Footwear brand Fitflop announced David Schuttenkopf as its Chief Commercial Officer, effective May 1, 2022. Schuttenkopf most recently served as Director of Sales of the UGG brand at footwear brand owner Deckers Outdoor Corporation. [caption id="attachment_144671" 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_144672" 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] [caption id="attachment_144673" 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_144674" 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.