DIpil Das
The US
2022 Major US Store Closures and Openings This week, we discuss updates for 99 Ranch, Bass Pro, Burkes Outlet, Five Below, H&M, Lululemon Athletica, RH, Trader Joe's and Urban Outfitters. In light of these updates, our 2022 US closures and openings counts stand at 1,398 and 3,882, 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 compared closures and openings up to week 14 of 2022 and 2021, which ended April 8, 2022, and April 9, 2021, respectively. Year to date in 2022, major US retailers have announced 11.8% more openings and 55.6% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=415]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=416]
Coresight Research periodically updates the counts 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
99 Ranch Opens One Store Grocery retailer 99 Ranch plans to open one store in the Samanea mall in Westbury, New York, on April 9, 2022. The store opening will take the company’s store count to 57. Bass Pro To Open One Store Outdoor equipment retailer Bass Pro plans to open one store in St. Louis, Missouri, by the end of 2022. The opening will take the company’s store count to 79. Burkes Outlet Opens One Store Apparel retailer Burkes Outlet opened one store in McAlester, Oklahoma, on March 31, 2022. The opening takes the company’s store count to 307. Trader Joe’s To Open Four Stores Grocery retailer Trader Joe’s plans to open one store each in Cumberland County, Pennsylvania; Yorktown, New York; Parker, Colorado; and Miami, Florida, bringing its total 2022 store openings to eight. The openings will take the company’s store count to 544.Quarterly Store Openings/Closures Settlement
Five Below Provides Store-Count Update Discount retailer Five Below opened 172 stores and closed one in 2021. The company plans to open 160 stores in its fiscal year ending early February 2023, of which we estimate 147 will fall in calendar 2022. The company operates 1,190 stores as of January 29, 2022. H&M Provides Store-Count Update Apparel retailer H&M opened six stores and closed 33 in the US in 2021. The company plans to open 95 stores and close 240 globally in its fiscal year ending early December 2022, of which we estimate 10 stores will open and 25 will close in the US in calendar 2022. The company operates 548 stores in the US as of November 30, 2021. Lululemon Provides Store-Count Update Apparel retailer Lululemon opened nine stores in 2021 and has opened one store year to date in 2022. The company operates 324 stores in the US as of January 29, 2022. RH Provides Store-Count Update Furniture retailer RH opened one store in the US in 2021. The company plans to open one store by the end of 2022. The company operates 76 stores in the US as of January 30, 2022. Urban Outfitters Provides Store-Count Update Apparel retailer Urban Outfitters opened 12 and closed seven Urban Outfitters stores, opened eight and closed four Anthropologie stores, and opened 26 and closed three Free People stores in the US in 2021. The company plans to open seven and close four Urban Outfitters stores, open six and close seven Anthropologie stores, and open 26 and close two Free People stores in the US in 2022. The company operates 184 Urban Outfitters stores, 206 Anthropologie stores and 162 Free People stores in the US as of January 31, 2022. 2022 Major US Store Closures and Openings [caption id="attachment_145224" 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_145225" 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 Five Below, H&M, Lululemon, RH and Urban Outfitters, which take the 2021 closures and openings counts to 5,150 and 4,987, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_145215" 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
Ascena Retail Group includes Ann Taylor, Catherines, Justice, Lane Bryant, LOFT and Lou & Grey. 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. Macy’s includes Bloomingdale’s, Bluemercury and Macy’s banners. Tapestry includes Coach, Kate Spade and Stuart Weitzman stores.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_145216" 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
Aerie includes Aerie stores and OFFLINE stores. Amazon includes Amazon Fresh and Amazon Go stores. TJX Companies includes HomeGoods, Homesense, Marmaxx (T.J. Maxx and Marshalls) and Sierra 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 H&M, IKEA, Moss Bros, Next, One Stop, Shoe Zone, The Fragrance Shop and The Sofa Workshop. In light of theseupdates, our 2022 UK closures and openings counts stand at 390 and 467, 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 compared closures and openings up to week 14 of 2022 and 2021, ended April 8, 2022, and April 9, 2021, respectively. Year to date in 2022, major UK retailers have announced 27.9% more openings and 66.6% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=417]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=418]
Coresight Research periodically updates the counts 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
H&M Provides Store-Count Update Apparel retailer H&M opened five stores and closed 28 in the UK in 2021. The company also plans to open 95 stores and close 240 globally in its fiscal year ending early December 2022, of which we estimate five stores will open and 12 will close in the UK in calendar 2022. The company operates 265 stores in the UK as of November 30, 2021. IKEA To Close One Store Home furnishings retailer IKEA plans to close one store in Edmonton, North London, by the end of 2022. The closure will take the company’s store count to 22. Moss Bros To Open 10 Stores Apparel retailer Moss Bros plans to open 10 stores by the end of 2022. The company operates 106 stores as of April 8, 2022. Next Provides Store-Count Update Apparel retailer Next opened a store in Watford on April 1, 2022. It plans to open one store in the Trafford Center in Manchester by the end of 2022, bringing its total 2022 openings to three. The company also plans to close its store in Stockport this summer, bringing its total 2022 store closure count to five. The update will take the company’s store count to 502. One Stop Provides Store-Count Update Convenience store chain One Stop has opened four stores year to date, with the latest store opening in Birmingham on March 31, 2022. The company operates over 900 stores as of April 8, 2022. Shoe Zone Opens One Store Shoe retailer Shoe Zone opened one store in Chesterfield on April 1, 2022, bringing its total 2022 store openings to three. The company operates more than 400 stores as of April 8, 2022. The Fragrance Shop Provides Store-Count Update Perfume retailer The Fragrance Shop has opened six stores year to date, with the latest store opening in Orchard Shopping Center in Taunton on April 2, 2022. The update takes the company’s store count to 219. The Sofa Workshop To Close All Stores Sofa retailer The Sofa Workshop fell into administration on April 1, 2022, and will shut all of its 16 stores. The company has already closed 15 stores and will close its last store in Tottenham, which is being used to clear inventory, by the end of April 2022.Non-Store-Closure News
Dunelm Appoints CFO Homewares retailer Dunelm has announced Karen Witts as its CFO, effective June 9, 2022. Witts will succeed Laura Carr, who has served as CFO since December 2018. Witts most recently served as CFO at foodservice company Compass Group. 2022 Major UK Store Closures and Openings [caption id="attachment_145217" 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_145218" 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] This week saw an update for H&M, which takes the total 2021 UK store openings count to 1,155. 2021 Major UK Store Closures and Openings [caption id="attachment_145219" 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
Arcadia Group includes 21 Outfit stores and 10 other stores that have not yet been disclosed. Gap includes Republic of Ireland. McColl’s includes convenience stores and newsagents.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_145220" 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.