Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss updates for ACME Markets, Bed Bath & Beyond, Big Lots, Citi Trends, Herman Miller, Hobby Lobby, Kmart, QuickChek, Staples, Stewart’s Shop, Trader Joe’s and Wawa. In light of these updates, our 2022 US closures and openings counts stand at 727 and 1,872, respectively. We include charts of 2021 closures and openings later in this report and we will review 2021’s developments and provide a look ahead to 2022 in a forthcoming report. 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 2 of 2022 and 2021, ended January 14, 2022, and January 15, 2021, respectively. Year to date in 2022, major US retailers have announced 7.3% 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=365]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=366]
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
ACME Markets To Close One Store Supermarket chain ACME Markets plans to close its store in Seaside Heights, New Jersey, on February 3, 2022. The closure will take the company’s store count to 160. Herman Miller Opens One Store Furniture retailer Herman Miller opened one store in Houston, Texas, on January 7, 2022. The opening takes the company’s store count to 49. Hobby Lobby Opens One Store Arts and crafts retailer Hobby Lobby opened one store in Davenport, Florida, on January 6, 2022. The store spans 55,000 square feet and takes the company’s store count to 964. Kmart To Close One Store Mass merchandiser Kmart plans to close its store in Hamilton, Montana, in March 2022. The closure will take the company’s store count to just five. QuickChek Opens One Store Convenience store chain QuickChek opened one store in Hamilton, New Jersey, on January 7, 2022. The store opening takes the company’s store count to 163. Staples Closes One Store Office supplies company Staples closed its store in Sarasota, Florida, on January 7, 2022. The closure will take the company’s store count to 1,043. Stewart’s Shop To Open 27 Stores Convenience store chain Stewart’s Shop plans to open 27 stores in 2022. The company operates 335 stores as of January 14, 2022. Trader Joe’s To Open Four Stores Grocery retailer Trader Joe’s plans to open four stores in 2022. The company operates 558 stores as of January 14, 2022. Wawa To Open 20 Stores Convenience store chain Wawa plans to open at least 20 stores in 2022. The company operates more than 700 stores as of January 14, 2022.Quarterly Store Openings/Closures Settlement
Bed Bath & Beyond Provides Store-Count Update Home goods retailer Bed Bath & Beyond closed five stores and opened two in its third quarter, ended November 27, 2021. The company also plans to close 37 stores in its fourth quarter, ending early March 2022. The openings have been previously tracked and the update takes the company’s 2021 and estimated 2022 closures counts to 117 and 25, respectively. The company operates 995 stores as of November 27, 2021. Big Lots Provides Store-Count Update Discount retailer Big Lots plans to open 50 stores in its fiscal year, ending early February 2023. We estimate that 46 of the openings will take place in calendar 2022. Added to previous openings, the update takes the company’s estimated 2022 openings count to 50. The company operates 1,428 stores as of November 1, 2021. Citi Trends Provides Store-Count Update Apparel retailer Citi Trends increased its store opening target for its fiscal year 2022, ending early February 2023, to 45 stores. We estimate that 41 of these openings will take place in calendar 2022. The update takes the company’s 2022 openings count to 45. The company operates 602 stores as of January 14, 2022.Non-Store-Closure News
Lululemon Hires New Brand CEO Apparel retailer Lululemon has appointed Michael Aragon as CEO of its digital platforms Mirror and Lululemon Digital Fitness, effective January 17, 2022. Aragon most recently served as Chief Content Officer of Amazon-owned streaming platform Twitch. 2022 Major US Store Closures and Openings [caption id="attachment_139446" 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
†Figures pertain to North America closures
Source: Company reports/Coresight Research[/caption] [caption id="attachment_139447" 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
†Figures pertain to North America closures
TJX Companies includes Marmaxx (T.J. Maxx and Marshalls), HomeGoods, Sierra, and Homesense 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 totals, as the companies did not provide details on timing or location. [wpdatatable id=1611]
Source: Company reports/Coresight Research
In the US, we recorded a total of 4,981 store closures and 5,049 openings in 2021 following an update to the closure counts for Bed Bath & Beyond. 2021 Major US Store Closures and Openings [caption id="attachment_139448" 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 Macy’s and Bloomingdale’s banners. Ascena Retail Group includes Justice, Catherines, Ann Taylor, 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_139449" 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 Marmaxx (T.J. Maxx and Marshalls), HomeGoods, Sierra, and Homesense 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=1612]
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 B&Q, GO Outdoors, Levi Strauss, Mint Velvet, Pavers, Russell & Bromley, Saltrock, Shoe Zone, Wilko and YESSS Electrical. In light of these updates, our 2022 UK closures and openings counts stand at 248 and 273, 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 2 of 2022 and 2021, ended January 14, 2022, and January 15, 2021, respectively. Year to date in 2022, major UK retailers have announced 52.5% more openings and 45.7% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=367]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=368]
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
B&Q To Open One Store Home-improvement retailer B&Q plans to open one store in Somerset in February 2022. The company operates over 300 stores in the UK as of January 14, 2022. GO Outdoors Opens One Store Sports and outdoor retailer GO Outdoors opened one store in St. David’s Retail Park, Bangor, on January 11, 2022. The opening takes the company’s store count to 65. Levi Strauss Opens One Store Apparel retailer Levi Strauss opened one store in SouthGate Shopping Centre in Bath on January 10, 2022. The opening takes the company’s store count in the UK to 63. Mint Velvet To Open One Store Women’s apparel retailer Mint Velvet plans to open one store in Belfast on January 15, 2022. The opening will take the company’s store count to 40. Pavers To Open One Store Shoe retailer Pavers plans to open one store in Canterbury on January 15, 2022. The opening will take the company’s store count in the UK to 139. Russell & Bromley To Open One Store Footwear retailer Russell & Bromley plans to open one store in Liverpool in spring 2022. The opening will take the company’s store count to 32. Saltrock To Open One Store Apparel retailer Saltrock plans to open one store in Kendal by the end of January 2022. The opening will take the company’s store count to 53. Shoe Zone To Open One Store Shoe retailer Shoe Zone plans to open one store in Freshney Place Shopping Centre in Grimsby by the end of January 2022. The opening will take the company’s store count to 398. Wilko To Close 15 Stores Home-furnishings retailer Wilko plans to close 15 stores in 2022. The company operates 420 stores as of January 14, 2022. YESSS Electrical Opens One Store Electronics wholesale retailer YESSS Electrical opened one store in Lewisham, London, on January 5, 2022. The opening takes the company’s store count to 98.Non-Store-Closure News
Asda Hires New Retail Director Supermarket chain Asda has appointed Ken Towle as its new Retail Director; he will join the company later in 2022. Towle currently serves as CEO of Co-op Group-owned supermarket chain Nisa. [caption id="attachment_139452" 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
Source: Company reports/Coresight Research[/caption] [caption id="attachment_139453" 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.
Source: Company reports/Coresight Research[/caption] 2022 Major UK Uncharted Openings and Closures [wpdatatable id=1615]
Source: Company reports/Coresight Research
[caption id="attachment_139454" 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_139455" 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.[/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.