Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss updates for Albertsons, Breitling, Buck Mason, Burberry, Fresh Market, Living Spaces, Outdoor Voices, Scotch & Soda and Walmart. In light of these updates, our 2022 US closures and openings counts stand at 1,401 and 3,895, 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 15 of 2022 and 2021, ended April 15, 2022, and April 16, 2021, respectively. Year to date in 2022, major US retailers have announced 12.0% more openings and 55.7% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=419]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=420]
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
Breitling To Open One Store Luxury watch retailer Breitling plans to open one store in Dallas, Texas, in summer 2022. The opening will take the company’s store count to 20. Buck Mason To Open Three Stores Apparel brand Buck Mason plans to open three stores by the end of 2022. The store openings will take the company’s store count to 21. Burberry To Open One Store Luxury brand Burberry plans to open one store in Dallas, Texas, by the end of 2022. The store openings will take the company’s store count in the US to 63. Fresh Market Opens One Store Supermarket chain Fresh Market opened one store in Palm Beach Gardens, Florida, on April 7, 2022. The opening takes the company’s store count in the US to 160. Living Spaces To Open One Store Furniture retailer Living Spaces plans to open one store in Lenexa, Kansas, by the end of April 2022. The opening will take the company’s store count in the US to 32. Outdoor Voices To Open One Store Apparel brand Outdoor Voices plans to open one store in Minneapolis, Minnesota, by the end of 2022. The opening will take the company’s store count in the US to 13. Scotch & Soda To Open Three Stores Apparel brand Scotch & Soda plans to open three stores in the US by the end of September 2022. The update takes the company’s 2022 openings count to five. The openings will take the company’s store count to 46. Walmart To Close One Store Walmart plans to close one store in Bellevue, Washington, by the end of April 2022. The closure will take the company’s 2022 closure count to three and store count to 5,341.Quarterly Store Openings/Closures Settlement
Albertsons Provides Store-Count Update Grocery retailer Albertsons opened 10 and closed five stores in 2021 and has opened one and closed two stores year to date in 2022. The company operates 2,276 stores in the US as of February 24, 2022.Non-Store-Closure News
Walmart Appoints CFO Walmart has appointed John Rainey as its CFO, effective June 6, 2022. Rainey will succeed Brent Briggs who has served as CFO since December 2015 and will stay in the company until the transition is complete. Rainey is currently serving as CFO and EVP of Global Customer Operations at PayPal. 2022 Major US Store Closures and Openings [caption id="attachment_145690" 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_145691" 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, Marshalls and Sierra ) 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=1902]
Source: Company reports/Coresight Research
This week saw updates for Albertsons, which takes the 2021 closures and openings counts to 5,155 and 4,997, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_145692" 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_145693" 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, 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=1903]
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 Deichmann, Fabb Furniture, The Food Warehouse, Geek Retreat, HMV, Oliver Bonas, Scotch & Soda, Sports Direct and TK Maxx. In light of these updates, our 2022 UK closures and openings counts stand at 390 and 476, 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 15 of 2022 and 2021, ended April 15, 2022, and April 16, 2021, respectively. Year to date in 2022, major UK retailers have announced 21.4% 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=421]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=422]
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
Deichmann To Open One Store Footwear retailer Deichmann plans to open one store in Huddersfield by the end of May 2022. The store openings will take the company’s store count to 121. Fabb Furniture Opens One Store Home-furnishings retailer Fabb Furniture opened one store in Watford on April 12, 2022. The opening takes the company’s store count to 21. Geek Retreat To Open One Store Hobby retailer Geek Retreat plans to open one store in Bristol in May 2022. The opening will take the company’s store count to 92. HMV To Open One Store Music and entertainment retailer HMV plans to open one store in Luton in May 2022. The opening will take the company’s store count to 122 stores. Oliver Bonas To Open One Store Clothing and homeware store Oliver Bonas plans to open one store in Harrogate in May 2022. The opening will take the company’s store count in the UK to 72 stores. Scotch & Soda To Open One Store Apparel brand Scotch & Soda plans to open one store in London by the end of September 2022. The opening will be the company’s third store in the UK. Sports Direct To Open One Store Apparel retail group Frasers Group plans to open one Sports Direct store in Swansea in July 2022. The company operates 515 Sports Direct stores in the UK as of April 15, 2022. The Food Warehouse Opens One Store Grocery retailer The Food Warehouse opened one store in Falkirk on April 12, 2022. The store opening takes the company’s store count in the US to 151. TK Maxx Provides Store-Count Update Off-price chain TK Maxx opened three stores and closed one store in 2021 and plans to open one store in Wirral by the end of April 2022. The company operates 352 stores in the UK as of January 30, 2022.Non-Store-Closure News
Morrisons Appoints CFO Supermarket chain Morrisons promoted current operations development director Joanna Goff to CFO, effective April 10, 2022. Goff will succeed Michael Gleeson who stepped down from the role in March 2022. [caption id="attachment_145697" 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_145698" 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 updates for TK Maxx, which take the 2021 openings and closure counts to 1,157 and 1,567, respectively. [caption id="attachment_145699" 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. Gap includes Republic of Ireland.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_145700" 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.