DIpil Das
The US
2022 Major US Store Closures and Openings This week, we discuss store-count updates for Academy Sports and Outdoors, Burkes Outlet, Chico's, Designer Brands, James Avery Artisan Jewelry, Lululemon Athletica, Mapco and Tilly's. In light of these updates, our 2022 US store closures and openings counts stand at 1,752 and 4,237, 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 23 of 2022 and 2021, ended June 10, 2022, and June 11, 2021, respectively. Year to date in 2022, major US retailers have announced 5.5% more openings and 60.8% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=456]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=457]
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
James Avery Artisan Jewelry To Open One Store Jewelry company James Avery Artisan Jewelry opened one store in Houston, Texas, on June 1, 2022 and plans to open another in Fort Worth, Texas in June 2022. The openings will take the company’s store count to 342. Mapco Opens One Store Grocery retailer Mapco opened one store in Columbia, Tennessee, on June 2, 2022. The opening takes the company’s store count to 315.Quarterly Store Openings/Closures Settlement
Academy Sports and Outdoors Provides Store-Count Update Sporting goods retailer Academy Sports and Outdoor plans to open eight stores in its fiscal year, ending February 2023, of which we estimate seven to fall in calendar 2022. The company operates 260 stores as of April 30, 2022. Burkes Outlet Provides Store-Count Update Apparel retailer Burkes Outlet opened 30 stores year to date in 2022. The company operates 336 stores as of June 10, 2022. Chico’s Provides Store-Count Update Apparel retailer Chico’s closed 36 stores in 2021 and closed five stores year to date in 2022. The company operates 1,264 stores as of April 30, 2022. Designer Brands Provides Store-Count Update Footwear retailer Designer Brands opened two stores and closed two in its first quarter, ended April 30, 2022. The closures have been previously tracked. The company operates 510 stores as of April 30, 2022. Lululemon Athletica Provides Store-Count Update Apparel retailer Lululemon Athletica opened one store in its first quarter, ended May 1, 2022. The company operates 325 stores in the US as of May 1, 2022. Tilly’s Provides Store-Count Update Apparel retailer Tilly’s plans to open nine stores in its fiscal year, ending early February 2023, of which we estimate eight to fall in calendar 2022. The company operates 240 stores as of April 30, 2022.Non-Store-Closure News
Amazon’s Consumer Business CEO To Step Down Amazon announced its CEO of worldwide consumer business, Dave Clark, will step down on July 1, 2022. Clark joined Amazon in 1999 and has served in his current role since early 2021. The company has yet to name a successor but said it will provide an update in the coming weeks. 2022 Major US Store Closures and Openings [caption id="attachment_149243" 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_149244" 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=2047 table_view=regular]
Source: Company reports/Coresight Research This week saw a store closure update for Chico’s, which changed our 2021 closure count to 5,193. 2021 Major US Store Closures and Openings [caption id="attachment_149245" 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_149246" 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 GO Outdoors, Hamleys, Jigsaw and Oliver Bonas. In light of these updates, our 2022 UK store closures and openings counts stand at 414 and 695, 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 23 of 2022 and 2021, ended June 10, 2022, and June 11, 2021, respectively. Year to date in 2022, major UK retailers have announced 0.3% more openings and 67.9% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=458]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=459]
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
GO Outdoors Provides Store-Count Update Sports and outdoor goods retailer GO Outdoors has opened four stores year to date and plans to open one store in Stocksbridge in June 2022. The opening will take the company’s store count to 68 stores. Hamleys Provides Store-Count Update Toy retailer Hamleys closed eight stores year to date in 2022. The company operates 22 stores as of June 10, 2022. Jigsaw Provides Store-Count Update Apparel retailer Jigsaw closed 12 stores in 2021 and has closed one store year to date in 2022. The company operates 43 stores as of January 29, 2022. Oliver Bonas Provides Store-Count Update Fashion and gifts chain Oliver Bonas has opened eight stores year to date in 2022. The store openings take the company’s store count to 79.Non-Store-Closure News
Crew Clothing Partners with Thrift+ Apparel retailer Crew Clothing partnered with second-hand clothing resale platform Thirft+ to help get more clothes back into circulation, fueling fashion resale. The service became available to customers on June 8, 2022. [caption id="attachment_149248" 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_149249" 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 Jigsaw, which changed our 2021 closure count to 1,617. [caption id="attachment_149250" 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 Jack Wills banners. 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_149251" 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.