DIpil Das
The US
2022 Major US Store Closures and Openings This week, we discuss store-count updates for Amazon, Gil Marine and Kroger. In light of these updates, our 2022 US store closures and openings counts stand at 1,766 and 4,283, 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 25 of 2022 and 2021, ended June 24, 2022, and June 25, 2021, respectively. Year to date in 2022, major US retailers have announced 3.7% more openings and 61.2% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=464]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=465]
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
Amazon To Open One Store Amazon plans to open its second Amazon Style clothing store, in Columbus, Ohio, in Autumn 2022. The opening will take the company’s 2022 openings count to 20. Gill Marine Opens One Store Apparel brand Gill Marine opened one store in Newport, Rhode Island, on June 20, 2022. The opening takes the company’s store count to 139.Quarterly Store Openings/Closures Settlement
Kroger Provides Store-Count Update Grocery retailer Kroger opened four and closed 20 stores in 2021 and has closed two stores year to date in 2022. The company operates 2,726 stores as of January 29, 2022.Non-Store-Closure News
Amazon Appoints CEO of Consumer Business Amazon promoted its current Vice President of North American Consumer Business, Doug Herrington, to CEO of its Consumer Business, effective July 1, 2022. Herrington will replace Dave Clark who is set to leave the company in July 2022 after serving in the role since 2021. 2022 Major US Store Closures and Openings [caption id="attachment_150227" 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_150228" 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
Amazon includes Amazon fresh, Amazon Go and Amazon Style banners. 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=2082 table_view=regular]
Source: Company reports/Coresight Research This week saw a store count update for Kroger, which changed our 2021 openings and closure counts to 4,992 and 5,207, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_150229" 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_150230" 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 Evans Cycles, Frasers Group, Oliver Bonas, Tessuti and QD Stores. In light of these updates, our 2022 UK store closures and openings counts stand at 421 and 740, 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 25 of 2022 and 2021, ended June 24, 2022, and June 25, 2021, respectively. Year to date in 2022, major UK retailers have announced 0.3% more openings and 67.5% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=467]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=466]
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 Stafford on June 22, 2022. The opening takes the company’s store count to 83 as of June 24, 2022. Frasers Group To Close One Store Retail group Frasers Group plans to close one House of Fraser store in Middlesbrough on July 15, 2022. The company operates 41 House of Fraser stores as of June 24, 2022. Oliver Bonas To Open One Store Apparel and gifts retailer Oliver Bonas plans to open one store in Harrogate in September 2022. The opening will take the company’s store count to 79. Tessuti To Open One Store Apparel retailer Tessuti plans to open one store in Belfast by the end of 2022. The opening will take the company’s store count to 36. QD Stores To Close One Store Discount retailer QD Stores plans to close one store in Suffolk on July 1, 2022. The closure will take the company’s store count to 29.Non-Store-Closure News
Bensons For Beds Appoints New CEO Mattress and bed retailer Benson For Beds has promoted its Chief Commercial and Digital Officer Nick Collard to CEO, effective June 20, 2022. Collard replaces Mark Jackson who stepped down from his role after three years. [caption id="attachment_150231" 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 Flannels, House of Fraser, Jack Wills and Sports Direct banners. Tesco includes Tesco, One Stop, Booker and Jack’s banners.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_150232" 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 Flannels, House of Fraser, Jack Wills and Sports Direct banners. Tesco includes Tesco, One Stop and Booker banners.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_150233" 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 Flannels, House of Fraser, Jack Wills and Sports Direct 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_150234" 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 Fraser, Jack Wills 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.