Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss store-count updates for Alimentation Couche-Tard, American Eagle Outfitters, Big Lots, Build-A-Bear Workshop, Costco Wholesale, Dick’s Sporting Goods, Dollar General, Dollar Tree, Gap, Guess, Hibbett Sports, Kirkland's, Sears Hometown, Sportsman’s Warehouse and Williams-Sonoma. In light of these updates, our 2022 US store closures and openings counts stand at 1,750 and 4,209, 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 22 of 2022 and 2021, ended June 3, 2022, and June 4, 2021, respectively. Year to date in 2022, major US retailers have announced 5.3% more openings and 60.6% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=452]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=453]
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
Alimentation Couche-Tard To Sell Stores Convenience store chain operator Alimentation Couche-Tard plans to sell 78 stores in the US by the end of 2022. The sale of the stores has not been finalized and, hence, is not charted. The company operates 7,046 stores in the US as of April 24, 2022. Sears Hometown To Close 100 Stores Home appliance retailer Sears Hometown plans to close 100 stores in the next few months, bringing the company’s total 2022 store closure count to 101. The company operates 179 stores as of June 3, 2022.Quarterly Store Openings/Closures Settlement
American Eagle Outfitters Provides Store-Count Update Apparel retailer American Eagle Outfitters opened seven and closed nine American Eagle stores and opened 12 and closed two Aerie stores in its first quarter, ended April 30, 2022. The company plans to open 10 American Eagle stores and 40 Aerie stores in its fiscal year ending early February 2023. We estimate 10 American Eagle stores and 37 Aerie stores to open in calendar 2022, which takes the 2022 opening counts for American Eagle and Aerie to 13 and 40, respectively. The company operates 878 American Eagle stores and 254 Aerie stores as of April 30, 2022. Big Lots Provides Store-Count Update Home discount retailer Big Lots closed four stores in its first quarter, ended April 30, 2022. The company plans to open 30 stores in its fiscal year, ending early February 2023, of which we expect 28 to open in calendar 2022, taking the company’s opening count to 33. The company operates 1,434 stores as of April 30, 2022. Build-A-Bear Provides Store-Count Update Toy retailer Build-A-Bear closed one store in its first quarter, ended April 30, 2022. The company operates 345 stores as of April 30, 2022. Costco Wholesale Provides Store-Count Update Warehouse club Costco Wholesale opened two stores in its third quarter, ended May 8, 2022. The company operates 574 stores in the US as of May 8, 2022. Dick’s Sporting Goods Provides Store-Count Update Sporting goods retailer Dick’s Sporting Goods closed two stores in its first quarter, ended April 30, 2022. The company operates 729 stores as of April 30, 2022. Dollar General Provides Store-Count Update Dollar store chain Dollar General opened 239 and closed 13 stores in its first quarter, ended April 30, 2022. The openings have been tracked previously, and the update takes the company’s closure count to 25. The company operates 18,356 stores as of April 30, 2022. Dollar Tree Provides Store-Count Update Dollar store chain Dollar Tree opened 42 and closed 13 Dollar Tree stores and opened 70 and closed 17 Family Dollar stores in its first quarter, ended April 30, 2022. The openings have been tracked previously, and the update takes the closure count for Dollar Tree and Family Dollar to 20 and 31, respectively. The company operates 8,088 Dollar Tree stores and 8,074 Family Dollar stores as of April 30, 2022. Gap Provides Store-Count Update Apparel retailer Gap closed three Old Navy stores, opened one Gap store, opened one Banana Republic store and closed two Athleta stores in North America in its first quarter, ended April 30, 2022. The company operates 1,258 Old Navy stores, 512 Gap stores, 445 Banana Republic stores and 231 Athleta stores in North America as of April 30, 2022. Guess Provides Store-Count Update Apparel brand Guess closed one store in its first quarter, ended April 30, 2022. The company operates 244 stores as of April 30, 2022. Hibbett Sports Provides Store-Count Update Sporting goods retailer Hibbett Sports opened nine and closed one store in its first quarter, ended April 30, 2022. The openings are part of the company’s plan to open 30 stores in its fiscal year, ending early February 2023, of which we expect 28 to fall in calendar 2022 taking the company’s 2022 openings count to 33. The company operates 1,105 stores as of April 30, 2022. Kirkland’s Provides Store-Count Update Grocery retailer Kirkland’s opened four and closed 20 stores in 2021 and has closed two stores year to date in 2022. The company operates 360 stores as of April 30, 2022. Sportsman’s Warehouse Provides Store-Count Update Outdoor sporting goods retailer Sportsman’s Warehouse opened three stores in its first quarter, ended April 30, 2022. The company operates 126 stores as of April 30, 2022. Williams-Sonoma Provides Store-Count Update Home furnishings retailer Williams-Sonoma opened three and closed two stores in its first quarter, ended April 30, 2022. The update takes the company’s opening and closure counts to four and 14, respectively. The company operates 545 stores in the US as of April 30, 2022.Non-Store-Closure News
Burlington Stores Appoints CFO Off-price retailer Burlington Stores appointed Kristin Wolfe as CFO, effective August 1, 2022. Wolfe will succeed John Crimmins, who will stay with the company until February 2023 to help with the transition. Wolfe most recently served as Group Senior Vice President of Corporate Finance at rival company Ross Stores. 2022 Major US Store Closures and Openings [caption id="attachment_148762" 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_148763" 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=2040]
Source: Company reports/Coresight Research
This week saw store closure updates for Kirkland’s, which changed our 2021 closure count to 5,197. 2021 Major US Store Closures and Openings [caption id="attachment_148764" 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_148765" 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=2041]
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 B&M, HMV, Nisa and Rituals. In light of these updates, our 2022 UK store closures and openings counts stand at 408 and 686, 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 22 of 2022 and 2021, ended June 3, 2022, and June 4, 2021, respectively. Year to date in 2022, major UK retailers have announced 3.3% more openings and 67.8% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=454]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=455]
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
HMV Opens One Store Music and entertainment retailer HMV opened one store in The Merry Hill Shopping Centre in Brierley Hill on May 26, 2022. The opening takes the company’s store count to 123 stores. Rituals Opens One Store Beauty retailer Rituals opened one store in the Touchwood Solihull shopping center in Solihull on May 27, 2022. The opening takes the company’s store count to 43 stores in the UK. Nisa Provides Store-Count Update Grocery retailer Nisa opened seven stores year-to-date in 2022, with the latest store opened in Suffolk. The company operates 1,123 stores as of June 3, 2022. B&M Provides Store-Count Update General merchandise retailer B&M opened 34 and closed 16 B&M stores and opened 15 and closed nine Heron Foods stores in 2021. The company opened eight and closed four B&M stores and opened four and closed three Heron Foods stores year-to-date in 2022. The company operates 701 B&M stores and 311 Heron Food stores as of March 26, 2022.Non-Store-Closure News
B&M Appoints New CEO General merchandiser B&M announced that it will promote its current CFO Alex Russo to CEO when current CEO Simon Arora retires in April 2023. Russo joined the company as CFO in October 2020, while Arora has served as CEO since June 2005. [caption id="attachment_148768" 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
Frasers Group includes House of Fraser and Sports Direct banners. Tesco includes Tesco, One Stop, Booker and Jack’s banners.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_148769" 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 Fraser Group includes Sports Direct banner. Tesco includes Tesco, One Stop and Booker banners.
Source: Company reports/Coresight Research[/caption] This week saw a store count update for B&M which changed our 2021 opening and closure counts to 1,220 and 1,605, respectively. [caption id="attachment_148770" 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. Frasers Group includes House of Fraser and Jack Wills banners.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_148771" 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
Frasers Group includes Flannels, House of Frasers, and Sports Direct banners. 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.