Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss store-count updates for Ahold Delhaize, Best Buy, Buc-ee's, Cotton On, Dillard's, Fossil Group, Herman Miller, Mango, Mejuri, Showcase, Tapestry, The Home Depot, Walmart and Whole Foods Market. In light of these updates, our 2022 US store closures and openings counts stand at 1,505 and 4,163, 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 20 of 2022 and 2021, ended May 20, 2022, and May 19, 2021, respectively. Year to date in 2022, major US retailers have announced 5.1% more openings and 64.2% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=442]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=443]
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
Best Buy To Open Four Stores Electronics retailer Best Buy plans to open four outlet stores by the end of 2022. The company operates 959 stores as of May 20, 2022. Buc-ee’s To Open One Store Convenience store chain Buc-ee’s plans to open one store in Florence, South Carolina, on May 23, 2022. The opening will take the company’s store count to 45. Cotton On Announces Store Expansion Plan Apparel retailer Cotton On plans to open 17 stores by the end of 2023. We estimate eight stores will open in 2022, taking the company’s store count to 20. Mango Announces Store Expansion Plan Apparel retailer Mango plans to open 30 stores by the end of 2024. We estimate 10 stores will open in 2022, taking the company’s store count to 16. Mejuri Announces Store Expansion Plan Jewelry brand Mejuri plans to open 17 stores globally by the end of 2022. We estimate 12 stores will open in the US, taking the company’s store count to 18. Showcase Announces Store Expansion Plan General merchandise retailer Showcase plans to open 27 stores in the US by the end of 2022. The openings will take the company’s store count to 37. Whole Foods Market To Open One Store Grocery retailer Whole Foods Market plans to open one store in Manhattan, New York, in summer 2022. The opening will take the company’s store count to 516.Quarterly Store Openings/Closures Settlement
Ahold Delhaize Provides Store-Count Update Grocery retailer Ahold Delhaize opened one store and closed three stores in its first quarter, ended March 31, 2022. The company operates 2,046 stores in the US as of March 31, 2022. Dillard’s Provides Store-Count Update Department store chain Dillard’s opened one Dillard’s Clearance Center store in 2021 and has closed one year to date in 2022. The company also opened one Dillard’s store and plans to close another in 2022. The company operates 251 Dillard’s stores and 29 Dillard’s Clearance Center stores as of April 30, 2022. Fossil Group Provides Store-Count Update Watch retailer Fossil Group closed 11 stores in North America in its first quarter, ended April 2, 2022. The company operates 159 stores in North America as of April 2, 2022. Herman Miller Provides Store-Count Update Office furnishings retailer Herman Miller has opened six stores year to date in 2022. The company operates 60 stores as of May 20, 2022. The Home Depot Provides Store-Count Update Home improvement retailer The Home Depot closed one store in its first quarter, ended May 1, 2022. The company operates 2,316 stores as of May 1, 2022. Tapestry Provides Store-Count Update Luxury brand owner Tapestry closed eight Coach stores, two Kate spade stores and three Stuart Weitzman stores in its first quarter, ended April 2, 2022. The company operates 346 Coach stores, 207 Kate Spade stores and 40 Stuart Weitzman stores as of April 2, 2022. Walmart Provides Store-Count Update Walmart opened three Walmart stores and one Sam’s Club store and closed four Walmart stores in 2021. The company operates 5,339 stores as of May 20, 2022.Non-Store-Closure News
JCPenney Appoints New Chief Marketing Officer Department store chain JCPenney announced John Aylward as its Chief Marketing Officer, effective June 6, 2022. Aylward most recently served as Chief Marketing Officer at the anti-poverty organization Care. Aylward will succeed Marci Grebstein, who stepped down from the role in February 2021. 2022 Major US Store Closures and Openings [caption id="attachment_147696" 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 three store closures and are not included in the chart
†Figures pertain to North America closures
Source: Company reports/Coresight Research[/caption] [caption id="attachment_147697" 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 12 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=1980]
Source: Company reports/Coresight Research
This week saw updates for Dillard’s and Walmart, which changed our 2021 openings and closure count to 4,995 and 5,198, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_147698" 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_147699" 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=1981]
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 Angling Direct, Dune London, The Food Warehouse, Go Outdoors, Grape Tree, Holland & Barrett, Iceland, JD Sports, Joules, Moda in Pelle, Screwfix, Shoe Zone and The Range. In light of these updates, our 2022 UK store closures and openings counts stand at 399 and 679, 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 20 of 2022 and 2021, ended May 20, 2022, and May 19, 2021, respectively. Year to date in 2022, major UK retailers have announced 9.0% more openings and 68.3% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=444] 2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=445]
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
Angling Direct Provides Store-Count Update Fishing supplies retailer Angling Direct opened four stores in 2021 and has opened one store year to date in 2022. The company operates 43 stores in the UK as of May 20, 2022. Dune London Opens One Store Footwear retailer Dune London opened one store in Glasgow on May 16, 2022. The store opening takes the company’s UK store count to 49. The Food Warehouse Opens One Store Grocery retailer The Food Warehouse opened one store in Aylesbury on May 11, 2022. The store opening takes the company’s store count in the UK to 153. Go Outdoors Opens One Store Sports and outdoor retailer Go Outdoors opened one store in Gateshead on May 14, 2022. The opening takes the company’s UK store count to 67. Grape Tree Opens One Store Health food store Grape Tree opened one store in Rowsley on May 14, 2022. The store opening takes the company’s UK store count to 131. Holland & Barret Closes One Store Health and wellness retailer Holland & Barret closed one store in Bournemouth on May 18, 2022. The company operates over 700 stores in the UK as of May 20, 2022. Iceland To Close One Store Grocery retailer Iceland plans to close one store in Altrincham in July 2022. The store closure will take the company’s UK store count to 925. JD Sports Opens One Store Sporting goods retailer JD Sports opened one store in Slough on May 7, 2022. The company operates 397 stores in the UK as of May 20, 2022. Joules To Close One Store Apparel retailer Joules plans to close one store in Chester in June 2022. The store closure will take the company’s UK store count to 137. Moda in Pelle To Open One Store Shoe retailer Moda in Pelle plans to open one store in the McArthurGlen Designer Outlet shopping center in Cannock in June 2022. The store opening will take the company’s UK store count to 28. Screwfix Announce Stores Expansion Plan Home-improvement retailer Screwfix plans to open 80 stores by the end of January 2023. We estimate 71 of the stores will open in 2022, in addition to the six stores the company has already opened year to date. The company operates 777 UK stores as of May 20, 2022. Shoe Zone Provides Store-Count Update Shoe retailer Shoe Zone has opened eight stores year to date in 2022. The company operates more than 400 stores in the UK as of May 20, 2022. The Range To Open One Store Home-goods retailer The Range plans to open one store in Coalville on July 1, 2022. The opening will take the company’s UK store count to 206. [caption id="attachment_147702" 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_147703" 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] This week saw updates for Angling Direct, which changed our 2021 openings count to 1,196. [caption id="attachment_147704" 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_147705" 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.