DIpil Das
The US
2022 Major US Store Closures and Openings This week, we discuss updates for Amazon, Barnes & Noble, Buc-ee’s, Earth Fare, Gucci, Kmart, Roses Discount Stores, Sears, Shaw’s, Stop & Shop and Walgreens. In light of these updates, our 2022 US closures and openings counts stand at 742 and 1,910, 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 4 of 2022 and 2021, ended January 28, 2022, and January 29, 2021, respectively. Year to date in 2022, major US retailers have announced 3.0% more openings and 64.5% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=373]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=374]
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
Barnes & Noble To Close One Store Book retailer Barnes & Noble plans to close its store in Braintree, Massachusetts, on May 22, 2022. The company operates more than 600 stores as of January 21, 2022. Buc-ee’s To Open Three Stores Convenience store chain Buc-ee’s plans to open three stores by the end of 2022, with one store set to open in each Sevier County, Tennessee; Richmond, Virginia; and Harrison County, Mississippi. The company operates 41 stores as of January 28, 2022. Earth Fare To Open Three Stores Supermarket chain Earth Fare opened one store in Christiansburg, Virginia, on January 18, 2022, and plans to open one store each in both Cleveland, Ohio and Oldsmar, Florida, by the end of 2022. The openings will take the company’s store count to 27. Gucci To Open One Store Luxury retailer Gucci plans to open one store in Detroit, Michigan, in summer 2022. The company operates 99 stores in the US as of January 28, 2022. Roses Discount Store Closes One Store Discount store chain Roses Discount Store closed its store in Ashe County, North Carolina, on January 15, 2022. The closure takes the company’s store count to 244. Sears To Close Two Stores Department store chain Sears closed one store in Fort Lauderdale, Florida, on January 18, 2022, and plans to close a store in Philadelphia, Pennsylvania, by the end of 2022. The closures will take the company’s store count to 34. Shaw’s Closes One Store Supermarket chain Shaw’s closed its store in Westbrook, Maine, on January 28, 2022. The closure takes the company’s store count to 128. Stop & Shop To Close Two Stores Supermarket chain Stop & Shop closed its store in Paramus, New Jersey, on January 13, 2022, and plans to close a store in South Brunswick, New Jersey, in February 2022. The closures will take the company’s store count to 412. Walgreens To Close Five Stores Drugstore chain Walgreens plans to close five stores in San Francisco by the end of 2022. The company operates more than 8,900 stores as of January 28, 2022. Quarterly Store Openings/Closures Settlement Amazon Provides Store-Count Update Amazon plans to open one clothing store under the brand Amazon Style at The Americana at Brand shopping center in Glendale, California, by the end of 2022. The company also plans to open 12 Amazon 4-Star stores by the end of 2022, one of which has been tracked previously. The company operates 119 stores in the US as of January 28, 2022. Coresight Research insight: Opening physical fashion stores is a natural evolution for Amazon, which is seeking to capture even greater share in a “tangible” category—like grocery, Amazon is seeking to meet consumer demand where much of it remains, in store. Coresight Research data have demonstrated that Amazon is the most-shopped retailer for clothing and footwear in the US since 2019, and we estimate that it is America’s biggest retailer of clothing and footwear by sales. However, at the same time, demand for physical stores among Amazon apparel shoppers is relatively low—in our 2021 survey, just 9% of those shoppers expressed an interest in Amazon opening physical fashion stores. We will publish our annual survey-based report on Amazon apparel in the spring. Kmart Provides Store-Count Update Mass merchandiser Kmart closed 23 stores in 2021 and plans to close two stores in March 2022. The closures will take the company’s store count in the continental US to four and in US territories to six.Non-Store-Closure News
Forever 21 Appoints New CEO Apparel retailer Forever 21 has appointed Winnie Park as CEO, effective January 19, 2022. Park succeeds Daniel Kulle, who stepped down from the role in October 2021. Park most recently served as CEO of stationery retailer Paper Source. 2022 Major US Store Closures and Openings [caption id="attachment_140168" 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_140169" 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 Kmart, which took our 2021 closures count to 4,975. 2021 Major US Store Closures and Openings [caption id="attachment_140170" 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_140171" 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 Bensons for Beds, Boots Opticians, CEF, Geek Retreat, Hughes Electrical, Jack & Jones, Jollyes, Harrods, Levi Strauss, LUSH, Mountain Warehouse, New Look and Sweaty Betty. In light of these updates, our 2022 UK closures and openings counts stand at 259and 338, 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 4 of 2022 and 2021, ended January 28, 2022, and January 29, 2021, respectively. Year to date in 2022, major UK retailers have announced 83.7% more openings and 57.4% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=375]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=376]
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
Bensons for Beds Provides Store-Count Update Bed and mattress retailer Bensons for Beds opened six stores in 2021 and plans to open 35 stores by the end of 2022. The company operates 179 stores as of January 28, 2021. Boots Opticians To Close One Store Eyewear retailer Boots Opticians plans to close its store in Tamworth on February 22, 2022. The company operates 550 stores as of January 28, 2022. CEF Opens One Store Electronics retailer CEF opened one store in Doncaster on January 24, 2022. The opening takes the company’s store count to 390. Geek Retreat To Open One Store Hobby retailer Geek Retreat plans to open one store in St George’s Shopping Centre in Preston in February 2022. The opening will take the company’s store count to 90. Hughes Electrical To Close One Store Electronics retailer Hughes Electrical plans to close its store in Wymondham on January 29, 2022. The closure will take the company’s store count to 30. Jack & Jones To Close One Store Apparel retailer Jack & Jones plans to close its store in Watford in February 2022. The closure will take the company’s store count in the UK to 47. Jollyes Provides Store-Count Update Pet retailer Jollyes plans to open 20 stores by the end of 2022 after reporting a 12.5% growth in comparable sales in its half year ending November 30, 2021. The company operates 66 stores as of January 28, 2022. Harrods To Open One Store Department store chain Harrods plans to open an H Beauty store in The Mall at Cribbs Causeway in South Gloucestershire in February 2022. The opening will take the number of H Beauty stores to three. Levi Strauss To Open One Store Apparel brand Levi Strauss plans to open one store in Trinity Leeds shopping center in Leeds in spring 2022. The opening will take the company’s store count to 66. LUSH Opens One Store Beauty retailer LUSH opened one store in Highcross Leicester shopping center on January 28, 2022. The opening takes the company’s store count to 276. Mountain Warehouse To Close One Store Apparel retailer Mountain Warehouse plans to close its store in Birmingham in early February 2022. The company operates more than 250 stores in the UK as of January 28, 2022. New Look To Close Three Stores Apparel retailer New Look plans to close three stores in February 2022. The stores are located in Dudley, Weymouth and Bournemouth and the closures will take the company’s store count to 464. Sweaty Betty Opens One Store Apparel brand Sweaty Betty opened one store in Cheltenham on January 28, 2022. The opening takes the company’s store count to 62.Non-Store-Closure News
Lidl Hires New Chief Commercial Officer (CCO) Discount grocery chain Lidl has appointed Peter de Roos as CCO for its operations in Great Britain, effective April 1, 2022. Peter de Roos currently serves as CCO for the company’s operation in the Netherlands. [caption id="attachment_140173" 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_140174" 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
This week saw an update for Bensons for Beds, which took our 2021 openings count to 1,130. [caption id="attachment_140175" 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_140176" 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.