DIpil Das
The US
2022 Major US Store Closures and Openings
This week, we discuss store-count updates for Alimentation Couche-Tard, Buc-ee’s, Chico's, Giant Food Stores, Hudson and Total Wine. In light of these updates, our 2022 US store closures and openings counts stand at 1,908 and 4,327, 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 26 of 2022 and 2021, ended July 1, 2022, and July 2, 2021, respectively. Year to date in 2022, major US retailers have announced 3.2% more openings and 58.1% fewer closures compared to the same time last year.
2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=468]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=469]
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
Buc-ee's Opens One Store
Convenience store chain Buc-ee's opened one store in Crosville, Tennessee, on June 27, 2022. The store opening takes the company’s store count to 50.
Giant Food Stores Opens Two Store
Grocery retailer Giant Food stores opened two stores in Philadelphia, Pennsylvania, in June 2022. The store openings take the company’s store count to 167.
Hudson Opens One Store
Travel retailer Hudson opened one Hudson Nonstop store in the Nashville International Airport in Nashville, Tennessee, on June 14, 2022. The company operates more than 1,000 stores in the US as of July 1, 2022.
Total Wine Opens One Store
Wine and alcohol retailer Total Wine opened one store in Wilmington, North Carolina, on June 23, 2022. The store opening takes the company’s store count to 236.
Quarterly Store Openings/Closures Settlement
Alimentation Couche-Tard Provides Store-Count Update
Convenience store chain Alimentation Couche-Tard opened 42 and closed 115 stores in North America in its fourth quarter, ended April 24, 2022. The update takes the company’s estimated 2022 opening and closure counts to 49 and 152, respectively. The company operates 9,094 stores in North America as of April 24, 2022.
Chico’s Provides Store-Count Update
Apparel retailer Chico’s plans to close 40 stores in its fiscal year, ending early February 2023, of which we estimate 37 to fall in calendar year 2022, taking the company’s 2022 closure count to 40. The company operates over 1,264 stores as of April 30, 2022.
Non-Store-Closure News
Revlon Files for Bankruptcy
Cosmetics company Revlon filed for Bankruptcy on June 14, 2022, citing capital structure, supply chain issues and inflation. The company had a debt of more than $3 billion at the time of filing and has lined up $575 million in debtor-in-possession financing to keep it operating through bankruptcy. The company may shut down two manufacturing facilities in the US as part of the bankruptcy.
2022 Major US Store Closures and Openings [caption id="attachment_150636" 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_150637" 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=2091 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_150638" 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_150639" 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 [wpdatatable id=2092 table_view=regular]
Source: Company reports/Coresight Research 2021 Major US Retail Bankruptcies [wpdatatable id=2093 table_view=regular]
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 FatFace, Frasers Group, HMV, Hobbycraft, JD Sports, Jigsaw, Longdan, Mamas & Papas, Saltrock, Suit Direct, The Original Factory Shop and The Range. In light of these updates, our 2022 UK store closures and openings counts stand at 422 and 754, 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 July 1, 2022, and July 2, 2021, respectively. Year to date in 2022, major UK retailers have announced 1.3% more openings and 68.9% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=470]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=471]
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
FatFace Opens One Store
Apparel retailer FatFace opened one store in the Bridgend Designer Outlet Centre in Bridgend, Wales, on June 27, 2022. The opening takes the company’s store count to 195 as of July 1, 2022.
Frasers Group Opens One Store
Apparel retail group Frasers Group opened one Jack Wills store in the Derbion shopping center in Derby on July 1, 2022. The company operates 53 Jack Wills stores as of July 1, 2022.
HMV Opens One Store
Music and entertainment retailer HMV opened one store in Watford on July 1, 2022. The company operates more than 120 stores as of July 1, 2022.
Hobbycraft Announces Store Expansion Plan
Art and craft retailer Hobbycraft plans to open three stores, one each in Bedfordshire, Essex and Merseyside, by the end of 2022. The company operates 111 stores as of July 1, 2022.
JD Sports Opens One Store
Sporting goods retailer JD Sports opened one store in Gateshead on June 25, 2022. The company operates 400 stores in the UK as of July 1, 2022.
Jigsaw Opens One Store
Apparel retailer Jigsaw opened one store in Market Harborough on June 29, 2022. The store opening takes the company’s store count to 40.
Longdan Opens One Store
Asian-grocery retailer Longdan opened one store in Crawley on June 26, 2022. The store opening takes the company’s store count to 17.
Mamas & Papas Opens One Store
Baby product retailer Mamas & Papas opened one store in the Brotherhood Shopping Park in Peterborough on June 30, 2022. The opening takes the company’s store count to 41.
Saltrock Opens One Store
Apparel retailer Saltrock opened one store in Norwich on June 25, 2022. The store opening takes the company’s store count to 54.
Suit Direct Opens One Store
Apparel retailer Suit Direct opened one store in the Parkway Shopping Centre in Newbury on June 24, 2022. The store opening takes the company’s store count to 44.
The Original Factory Store To Close One Store
Discount department store chain The Original Factory Store plans to close one store in Gloucestershire on July 15, 2022. The closure will take the company’s store count to 181.
The Range To Open One Store
Apparel retailer The Range plans to open one store in the Warwickshire Shopping Park in Binley on July 1, 2022. The opening will take the company’s store count to 206.
Non-Store-Closure News
John Lewis Appoints Director of Design for Fashion
Department store chain John Lewis appointed Queralt Ferrer as its new Director of Design for Fashion effective June 27, 2022. Ferrer Most recently served as Director of Design for Marks & Spencer’s womenswear and lingerie.
[caption id="attachment_150640" 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_150641" 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_150642" 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_150643" 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.