Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss store-count updates for Bed Bath & Beyond, Givenchy and Reiss. In light of these updates, our 2022 US store closures and openings counts stand at 1,912 and 4,328, 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 27 of 2022 and 2021, ended July 8, 2022, and July 10, 2021, respectively. Year to date in 2022, major US retailers have announced 1.9% 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=472]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=473]
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
Givenchy Opens One Store Luxury brand Givenchy opened one store in Manhattan, New York, on June 15, 2022. The store opening takes the company’s store count to 45. Reiss Closes One Store Apparel retailer Reiss closed one store in New York City on June 27, 2022. The store closing takes the company’s US store count to 53.Quarterly Store Openings/Closures Settlement
Bed Bath & Beyond Provides Store-Count Update Home-goods retailer Bed Bath & Beyond opened five stores and closed three stores in its first quarter, ended May 28, 2022. The openings have been previously tracked and the update takes the company’s 2022 closure count to six. The company operates 955 stores as of May 28, 2022.Non-Store-Closure News
Bed Bath & Beyond Appoints Interim CEO Bed Bath & Beyond appointed Sue Gove as its CEO, effective June 29, 2022, succeeding Mark Tritton. Gove also serves as an independent Director and Chair of the company’s strategic committee. 2022 Major US Store Closures and Openings [caption id="attachment_151049" 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_151050" 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=2108]
Source: Company reports/Coresight Research
2021 Major US Store Closures and Openings [caption id="attachment_151051" 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_151052" 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=2109]
Source: Company reports/Coresight Research
2021 Major US Retail Bankruptcies [wpdatatable id=2110]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 Boots, Clarks, The Food Warehouse, JD Sports, Lush, Mint Velvet, Sainsbury’s, Shoe Zone and Suit Direct. In light of these updates, our 2022 UK store closures and openings counts stand at 451 and 765, 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 27 of 2022 and 2021, ended July 8, 2022, and July 10, 2021, respectively. Year to date in 2022, major UK retailers have announced 1.7% more openings and 66.9% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=474]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=475]
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
Boots To Close One Store Health and beauty retailer Boots plans to close one store in Stockton on July 16, 2022. The company operates more than 2,200 stores as of July 8, 2022. Clarks To Close One Store Footwear retailer Clarks plans to close one store in Windsor by early August 2022. The company operates more than 300 stores in the UK as of July 8, 2022. The Food Warehouse Opens Two Stores Grocery retailer The Food Warehouse opened one store in Westmorland Retail Park, Cramlington and one in Riverside Retail Park, Nottingham on July 5, 2022. The store openings take the company’s store count in the UK to 160. JD Sports Opens One Store Sportswear retailer JD Sports opened one store in the Kittybrewster Retail Park in Aberdeen on July 1, 2022. The company operates 401 stores in the UK as of July 8, 2022. Lush Opens One Store Beauty retailer Lush opened one store in Glasgow on June 29, 2022. The store opening takes the company’s store count to 274. Mint Velvet To Open One Store Apparel retailer Mint Velvet plans to open one store in the St David's Shopping Centre, Cardiff during summer 2022. The opening will take the company’s store count to 96. Sainsbury’s Provides Store-Count Update Grocery retailer Sainsbury’s closed an estimated 89 Argos stores and opened an estimated 22 and closed an estimated 26 Sainsbury’s stores in 2021. The company has closed an estimated 12 Argos stores, which were previously tracked as part of a closure plan, and opened an estimated four and closed an estimated four Sainsbury’s stores year to date in 2022. The company operates 728 Argos stores and 1,407 Sainsbury’s stores as of March 5, 2022. Shoe Zone Provides Store-Count Update Shoe retailer Shoe Zone has opened 10 and closed 23 stores year to date in 2022. The company operates 363 stores as of July 8, 2022. Suit Direct Opens One Store Apparel retailer Suit Direct opened one store in the Drake Circus Shopping Centre in Plymouth on July 1, 2022. The store opening takes the company’s store count to 45.Non-Store-Closure News
Appoints Vice President for Corporate Responsibility Luxury retailer Burberry appointed Caroline Laurie as its new Vice President for Corporate Responsibility effective July 1, 2022. Laurie most recently served as Director of Responsible Business and Sustainability at home-improvement retailer B&Q. [caption id="attachment_151056" 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_151057" 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] This week saw an update for Sainsbury which took the UK 2021 closure and openings counts to 1,659 and 1,241, respectively. [caption id="attachment_151058" 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_151059" 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 four 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.