DIpil Das
The US
2022 Major US Store Closures and Openings This week, we discuss store-count updates for Aritzia, Barnes & Noble, Crocs, Hanesbrands, Office Depot, Rent-A-Center, Savage X Fenty, Sprouts Farmers Market, Murphy USA and Under Armour. In light of these updates, our 2022 US store closures and openings counts stand at 1,475 and 4,094, 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 19 of 2022 and 2021, ended May 13, 2022, and May 12, 2021, respectively. Year to date in 2022, major US retailers have announced 9.6% more openings and 63.4% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=438]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=439]
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
Barnes & Noble Opens One Store Book retailer Barnes & Noble opened one store in Flagstaff, Arizona, on May 9, 2022. The store opening takes the company store count to 612. Savage X Fenty To Open Seven Stores Direct-to-consumer (DTC) lingerie brand Savage X Fentyounded by singer Rihanna, plans to open seven stores by the end of 2022—with the first of the new stores set to open in New York in June 2022. The brand operates five stores as of May 13, 2022.Quarterly Store Openings/Closures Settlement
Aritzia Provides Store-Count Update Apparel brand Aritzia has opened one store year to date in 2022 and plans to open seven stores by the end of its fiscal year, ending early March 2023, of which we estimate seven will open in 2022. The company operates 43 stores in the US as of February 27, 2022. Crocs Provides Store-Count Update Footwear brand Crocs opened two stores in North America in its first quarter, ended March 31, 2022. The company operates 175 stores in North America as of March 31, 2022. Hanesbrands Provides Store-Count Update Apparel brand Hanesbrands closed 29 stores in the US in 2021. The company operates 216 stores as of January 2, 2022. Murphy USA Provides Store-Count Update Gas station chain Murphy USA opened six stores in its first quarter, ended March 31, 2022. The company operates 1,686 stores as of March 31, 2022. Rent-A-Center Provides Store-Count Update Rent-to-own furniture retailer Rent-A-Center opened six stores in its first quarter, ended March 31, 2022. The company operates 1,852 stores as of March 31, 2022. Sprouts Farmers Market Provides Store-Count Update Grocery retailer Sprouts Farmers Market opened six and closed one store in its first quarter, ended April 3, 2022. The openings have been tracked previously. The company operates 379 stores as of April 3, 2022. Office Depot Provides Store-Count Update Office supplies retailer Office Depot closed six stores in its first quarter ended, March 26, 2022. The company operates 1,032 stores as of March 26, 2022. Under Armour Provides Store-Count Update Apparel and footwear brand Under Armour closed one store in North America in its first quarter, ended March 31, 2022. The company operates 179 stores in North America as of March 31, 2022.Non-Store-Closure News
Bath & Body Works CEO To Step Down Beauty retailer Bath & Body Works announced that its CEO Andrew Meslow stepped down on May 12, 2022. Meslow joined the company as CFO in 2005 and served as CEO since 2020. The company has yet to name a successor. 2022 Major US Store Closures and Openings [caption id="attachment_147173" 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_147174" 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 11 store openings and are not included in the chart
†Figures pertain to North America closures
TJX Companies includes HomeGoods, Homesense and Marmaxx (T.J. Maxx, Marshalls and Sierra) 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=1952 table_view=regular]
Source: Company reports/Coresight Research This week saw updates for Hanesbrands, which changed our 2021 closure count to 5,193. 2021 Major US Store Closures and Openings [caption id="attachment_147175" 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_147176" 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, 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=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 store updates for Evans Cycles, The Food Warehouse, Hobbycraft, Leading Labels and Sports Direct. In light of these updates, our 2022 UK store closures and openings counts stand at 396 and 595, 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 19 of 2022 and 2021, ended May 13, 2022, and May 12, 2021, respectively. Year to date in 2022, major UK retailers have announced 31.1% more openings and 68.0% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=440]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=441]
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
Evans Cycles Opens One Store Bicycle retailer Evans Cycles opened one store in Aberdeen on May 11, 2022. The store opening takes the company’s store count to 81. The Food Warehouse Opens One Store Grocery retailer The Food Warehouse plans to open one store in Truro by the end of May 2022. The store opening will take the company’s store count in the UK to 152. Hobbycraft To Open One Store Arts and crafts retailer Hobbycraft plans to open one store in Biggleswade, Bedfordshire, in June 2022. The opening will take the company’s store count to 111. Leading Labels Opens One Store Apparel retailer Leading Labels opened one store in the Eastgate Shopping Centre in Basildon on May 6, 2022. The company operates 27 stores as of May 13, 2022. Sports Direct Announces Store Expansion Plan Apparel retail group Frasers Group opened one Sports Direct store in Birmingham on May 5, 2022, and plans to open 10 further stores by the end of 2022. The company operates 523 Sports Direct stores in the UK as of April 15, 2022.Non-Store-Closure News
Morrisons Acquires McColl’s Supermarket chain Morrisons acquired convenience store chain McColl’s after the latter entered into administration on May 6, 2022. McColl’s fell into administration after its lenders declined a request to restructure the company’s debt. McColl’s was sold through a pre-pack admiration deal and all of its 1,160 stores will remain open. [caption id="attachment_147177" 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, One Stop, Booker and Jack’s banners.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_147178" 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
Tesco includes Tesco, One Stop and Booker banners.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_147179" 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
Gap includes Republic of Ireland. McColl’s includes convenience stores and newsagents. Tesco includes Tesco, One Stop, Booker and Jack’s banners.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_147180" 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
Tesco includes Tesco, One Stop, Booker and Jack’s banners.
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.