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The US
2022 Major US Store Closures and Openings This week, we discuss store-count updates for Albertsons, Amazon, Barnes & Noble, Burberry, Carhartt, Conn’s HomePlus, Hobby Lobby, Lids, NIKE, Olympia Sports, Rag & Bone, REI, Skechers and Whole Foods Market. In light of these updates, our 2022 US store closures and openings counts stand at 1,954 and 4,432, 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 30 of 2022 and 2021, ended July 29, 2022, and July 30, 2021, respectively. Year to date in 2022, major US retailers have announced 2.5% more openings and 57.5% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=484]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=485]
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 Opens One Store Amazon opened one Amazon Fresh store in Encino, California, on July 21, 2022. The opening takes the company’s 2022 openings count to 23 and its store count to 68. Barnes & Noble To Open One Store Book retailer Barnes & Noble plans to open one store in Riverhead Centre, New York, in the fall of 2022. The store opening will take the company’s store count to 613. Burberry Opens One Store Luxury brand Burberry opened one store in Miami, Florida, on July 25, 2022. The store opening takes the company’s US store count to 64. Carhartt Opens One Store Apparel retailer Carhartt opened one store in Nashville, Tennessee, on April 28, 2022. The company operates 36 stores in the US as of July 27, 2022. Conn’s HomePlus Opens One Store Home furnishings and appliance retailer Conn’s HomePlus opened one store in Pinellas Park, Florida, on July 29, 2022. The store opening takes the company’s store count to 185. Lids Announces Store Expansion Plan Apparel accessories retailer Lids has opened two Lids stores and one Lids U store year to date and plans to open 10 stores by the end of 2022. The company operates over 1,100 stores in North America as of July 27, 2022. Olympia Sports Announces Store Closure Sporting goods retailer Olympia Sports plans to close its remaining 35 stores by the end of September 2022, with liquidation sales already taking place at stores. REI To Open Two Stores Outdoor gear retailer REI plans to open one store in Mount Pleasant, South Carolina, and another in Gretna, Nebraska, in the fall of 2022. The company operates 135 stores as of July 27, 2022. Whole Foods Market To Open One Store Amazon-owned grocery retailer Whole Foods Market plans to open one store in Culver City, California, on August 10, 2022. The store opening will take the company’s store count to 519.Quarterly Store Openings/Closures Settlement
Albertsons Provides Store-Count Update Grocery retailer Albertsons closed three stores in its first quarter ended June 18, 2022, taking the company’s 2022 closure count to five. The company operates 2,273 stores in the US as of June 18, 2022. Hobby Lobby Provides Store-Count Update Arts and craft retailer Hobby Lobby opened 16 stores year to date in 2022. The company operates 980 stores as of July 27, 2022. NIKE Provides Store-Count Update Apparel and footwear brand owner NIKE opened an estimated 11 stores and closed an estimated eight in 2021 and has opened an estimated eight stores year to date in 2022. The company operates 344 stores in the US as of May 31, 2022. Rag and Bone Provides Store-Count Update Apparel brand Rag and Bone has opened two stores year to date in 2022 and plans to open one store in Tampa, Florida, in the fall of 2022. The company operates 52 stores as of July 27, 2022. Skechers Provides Store-Count Update Apparel and footwear brand owner Skechers opened 15 stores and closed five in the US in its second quarter, ended June 30, 2022, taking the company’s 2022 openings and closure counts to 28 and 17, respectively. The company operates 526 stores in the US as of June 30, 2022.Non-Store-Closure News
Dollar Tree Appoints New Chief Information Officer Discount retailer Dollar Tree appointed Bobby Aflatooni as its new Chief Information Officer, effective July 21, 2022. Aflatooni most recently served as Executive VP, Chief Information Officer of The Howard Hughes Corp, a real estate company. Aflatooni succeeds Andy Paisley, who stepped down from his role in June 2022. 2022 Major US Store Closures and Openings [caption id="attachment_152457" 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_152458" 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 15 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=2157]
Source: Company reports/Coresight Research
This week saw updates for NIKE, which changed our 2021 openings count to 5,030. 2021 Major US Store Closures and Openings [caption id="attachment_152460" 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_152461" 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 17 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=2158]
Source: Company reports/Coresight Research
2021 Major US Retail Bankruptcies [wpdatatable id=2159]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 Co-op, Company Shop, Saltrock, Skechers, The Food Warehouse, Toytown and Trespass. In light of these updates, our 2022 UK store closures and openings counts stand at 456 and 851, 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 30 of 2022 and 2021, ended July 29, 2022, and July 30, 2021, respectively. Year to date in 2022, major UK retailers have announced 0.6% 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=486]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=487]
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
Co-op Provides Store-Count Update Grocery retailer Co-op opened 50 stores in 2021 and has opened four stores year to date in 2022. The company operates more than 2,600 stores as of July 27, 2022. Company Shop Group To Open One Store Supermarket chain Company Shop Group plans to open one Community Shop store in the Avenue Retail Park in Bradford on August 16, 2022. The company operates 24 stores as of July 27, 2022. The Food Warehouse To Open One Store Grocery chain The Food Warehouse (owned by grocery retailer Iceland) plans to open one store in the Longwater Retail Park in Norwich by the end of 2022. The company operates 162 stores as of July 27, 2022. Saltrock Opens One Store Apparel retailer Saltrock opened one store in Keswick on July 23, 2022. The store opening takes the company’s store count to 57. Skechers Provides Store-Count Update Skechers has opened four stores year to date and plans to open one store in Westfield Stratford by the end of 2022. The company operates 100 stores in the UK as of July 27, 2022. Toytown To Close One Store Toy retailer Toytown plans to close one store in Doncaster by the end of September 2022. The store closing will take the company’s store count to 30. Trespass Provides Store-Count Update Outdoor apparel retailer Trespass has opened three stores and closed one year to date in 2022. The company operates more than 170 stores as of July 27, 2022.Non-Store-Closure News
Marks & Spencer CFO To Move to Associated British Foods Apparel retailer Marks & Spencer announced its CFO, Eoin Tonge, will step down from his role in November 2022 and join Associated British Foods—the owner of rival retailer Primark—as Finance Director in February 2023. Tonge joined Marks & Spencer as CFO in June 2020. The company has yet to name a successor. [caption id="attachment_152465" 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_152466" 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 chartSource: Company reports/Coresight Research[/caption] This week saw an update for Co-op, which took the UK 2021 openings counts to 1,214. [caption id="attachment_152467" 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_152468" 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.