Nitheesh NH
The US
2022 Major US Store Closures and Openings This week, we discuss updates for Aritzia, Arula, Barnes & Noble, BoConcept, Brooks Brothers, Costco, Gabe’s, Smart & Final and Stewart’s Shop. In light of these updates, our 2022 US closures and openings counts stand at 729 and 1,891, 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 3 of 2022 and 2021, ended January 21, 2022, and January 22, 2021, respectively. Year to date in 2022, major US retailers have announced 6.4% more openings and 55.2% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=369]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=370]
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
Arula Opens One Store Apparel retailer Arula opened one store in the Mall of America shopping center in Bloomington, Minnesota, on January 18, 2022. The opening takes the company’s store count to 25. Barnes & Noble Opens One Store Bookstore chain Barnes & Noble opened one store in Deerfield Towne Center shopping center in Mason, Ohio, on January 19, 2022. The company operates more than 600 stores in the US as of January 21, 2022. BoConcept Opens One Store Furniture retailer BoConcept opened one store in Palm Desert, California, on January 18, 2022. The opening takes the company’s store count to 17. Brooks Brothers To Close One Store Apparel retailer Brooks Brothers plans to close one store in St. Louis, Missouri, by the end of January 2022. The company operates more than 170 stores in the US as of January 21, 2022. Gabe’s Opens One Store Apparel retailer Gabe’s opened one store in Lexington, Kentucky, on January 12, 2022. The opening takes the company’s store count to 119. Smart & Final To Open Two Stores Grocery retailer Smart & Final plans to open two stores in the US in 2022. The openings will take the company’s store count to 256. Stewart’s Shop Closes One Store Convenience store chain Stewart’s Shop closed one store in Albany, New York, on January 16, 2022. The closure takes the company’s store count to 334.Quarterly Store Openings/Closures Settlement
Aritzia Provides Store-Count Update Apparel retailer Aritzia opened one store in the US its third quarter, ended November 28, 2021. The company plans to open four stores in its fourth quarter, ending early March 2022. The update takes the company’s 2021 and 2022 openings counts to seven and three, respectively. The company operates 40 stores in the US as of November 28, 2021. Costco Provides Store-Count Update Warehouse club Costco plans to open 28 stores globally in 2022. We estimate that 19 of these store openings will take place in the US. The company operates 571 stores in the US as of November 1, 2021.Non-Store-Closure News
The Fresh Market Appoints New CFO Grocery retailer The Fresh Market appointed Adrian Bartella as CFO, effective January 17, 2022. Bartella succeeds James Heaney, who stepped down from the role in October 2021. Bartella served as CFO at travel retailer Hudson Group since 2012. 2022 Major US Store Closures and Openings [caption id="attachment_139812" 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
†Figures pertain to North America closures
Source: Company reports/Coresight Research[/caption] [caption id="attachment_139813" 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
†Figures pertain to North America closures
TJX Companies includes Marmaxx (T.J. Maxx and Marshalls), HomeGoods, Sierra, and Homesense 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 totals, as the companies did not provide details on timing or location. [wpdatatable id=1626]
Source: Company reports/Coresight Research
This week saw an update for Aritzia, which took the 2021 openings count to 5,048. 2021 Major US Store Closures and Openings [caption id="attachment_139814" 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
Macy’s includes Macy’s and Bloomingdale’s banners. Ascena Retail Group includes Justice, Catherines, Ann Taylor, Lane Bryant, LOFT and Lou & Grey. Tapestry includes Coach, Kate Spade and Stuart Weitzman stores. 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.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_139815" 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
TJX Companies includes Marmaxx (T.J. Maxx and Marshalls), HomeGoods, Sierra, and Homesense stores. Aerie includes Aerie stores and OFFLINE stores. Amazon includes Amazon Fresh and Amazon Go 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=1627]
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 updates for Clintons, Deichmann, Geek Retreat, Monsoon Accessorize, Next, Pandora, Shoe Zone and WHSmith. In light of these updates, our 2022 UK closures and openings counts stand at 252 and 277, 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 3 of 2022 and 2021, ended January 21, 2022, and January 22, 2021, respectively. Year to date in 2022, major UK retailers have announced 54.7% more openings and 58.5% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=371]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=372]
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
Clintons Closes One Store Greeting card retailer Clintons closed one store in Market Harborough on January 17, 2022. The closure takes the company’s store count to 238. Deichmann To Open One Store Shoe retailer Deichmann plans to open one store in Westwood Cross Shopping Centre in Broadstairs on March 1, 2022. The company operates 119 stores as of January 21, 2022. Geek Retreat To Open One Store Hobby retailer Geek Retreat plans to open one store in in Surrey in February 2022. The opening will take the company’s store count to 89. Monsoon Accessorize To Close One Store Apparel retailer Monsoon Accessorize plans to close its store in the Erneside Shopping Centre in Enniskillen in February 2022. The closure will take the company’s store count to 135. Next To Open One Store Apparel retailer Next plans to open one store in St. George’s Retail Park in Leicester on January 26, 2022. The opening will take the company’s store count in the UK to 506. Pandora Closes One Store Jewelry retailer Pandora closed one store in Rugby on January 17, 2022. The closure takes the company’s store count in the UK to 130. Shoe Zone To Open One Store Footwear retailer Shoe Zone plans to open one store in Worthing on February 4, 2022. The opening will take the company’s store count to 399. WHSmith To Close One Store Books and stationery retailer WHSmith plans to close its store in St. George’s Shopping Centre in Gravesend by the end of 2022. The company operates more than 600 stores in the UK as of January 21, 2022.Non-Store-Closure News
Sainsbury’s Hires New Chief Transformation Officer Sainsbury’s has promoted Graham Biggart to the newly created role of Chief Transformation Officer, effective March 2022. Biggart currently serves as Business Unit Director of Fresh foods and food service and has been with the company since 2015. [caption id="attachment_139818" 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
Source: Company reports/Coresight Research[/caption] [caption id="attachment_139819" 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.
Source: Company reports/Coresight Research[/caption] 2022 Major UK Uncharted Openings and Closures [wpdatatable id=1630]
Source: Company reports/Coresight Research
[caption id="attachment_139820" 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
McColl’s includes convenience stores and newsagents. Arcadia Group includes 21 Outfit stores and 10 other stores that have not yet been disclosed. Gap includes Republic of Ireland.
Source: Company reports/Coresight Research[/caption] [caption id="attachment_139821" 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.
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.