DIpil Das
The US
2022 Major US Store Closures and Openings This week, we discuss updates for 99 Ranch, Ahold Delhaize, At Home, Balenciaga, Bob's Discount Furniture, Crocs, Haverty Furniture, Hobby Lobby, Macy's, Road Runner Sports, The Home Depot, Watches Of Switzerland and Whole Foods Market. In light of these updates, our 2022 US closures and openings counts stand at 891 and 2,292, 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 8 of 2022 and 2021, ended February 25, 2022, and February 26, 2021, respectively. Year to date in 2022, major US retailers have announced 5.6% more openings and 58.9% fewer closures compared to the same time last year.2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=389]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=390]
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
99 Ranch To Open One Store Grocery retailer 99 Ranch plans to open one store in San Jose, California, in March 2022. The store opening will take the company’s store count to 56. At Home To Open 25 Stores Home-furnishings retailer At Home plans to open 25 stores in calendar 2022, of which six have already opened as of February 25, 2022. The company operates 241 stores as of February 25, 2022. Balenciaga Opens One Store Luxury fashion brand Balenciaga opened one store in Tysons Galleria shopping center in McLean, Virginia, on February 16, 2022. The opening takes the company’s store count to 31. Bob's Discount Furniture To Open 16 Stores Home-furnishings retailer Bob's Discount Furniture plans to open 16 stores in calendar 2022. The company operates 153 stores as of February 25, 2022. Hobby Lobby To Open One Store Arts and crafts retailer Hobby Lobby plans to open one store in Silverdale, Washington, in March 2022. The store opening will take the company’s store count to 970. Road Runner Sports Opens One Store Athletic shoe retailer Road Runner Sports opened one store in Arlington, Texas, on February 24, 2022. The store opening takes the company’s store count to 42. Watches of Switzerland Opens Three Stores Luxury watch retailer Watches of Switzerland has opened three stores year to date. The store openings take the company’s store count in the US to 39. Whole Foods Market To Opens Two Stores Grocery retailer Whole Foods Market opened one store in San Francisco, California, on January 12, 2022, and plans to open another store in San Francisco, California in March 2022. The store openings take the company’s store count to 513.Quarterly Store Openings/Closures Settlement
Ahold Delhaize Provides Store-Count Update Grocery retailer Ahold Delhaize opened 80 stores and closed two stores in 2021. The company operates 2,048 US stores as of December 31, 2021. Crocs Provides Store-Count Update Shoe brand Crocs opened nine stores and closed one store in 2021. The company operates 162 stores as of December 31, 2021. Haverty Furniture Provides Store-Count Update Furniture retailer Haverty Furniture plans to open four and close two stores in calendar 2022. The company operates 118 stores as of December 31, 2021. Macy’s Provides Store-Count Update Department store chain Macy’s opened five and closed 16 Macy’s stores; opened three and closed one Bloomingdale’s store; and closed two Bluemercury stores in 2021. The company plans to open 10 stores by the end of 2022. The company operates 510 Macy’s stores, 55 Bloomingdale’s stores and 160 Bluemercury stores as of January 30, 2022. The Home Depot Provides Store-Count Update Home-improvement retailer The Home Depot opened 19 stores in 2021 and has opened two stores year to date in 2022. The company operates 2,317 stores in the US as of January 31, 2022.Non-Store-Closure News
Dollar Tree Chairman To Step Down Discount store chain Dollar Tree announced that its Executive Chairman Bob Sasser plans to retire by the end of February 2022. Sasser joined the company in 1999 as COO and has served as Executive Chairman since 2017. The company has yet to name a successor. 2022 Major US Store Closures and Openings [caption id="attachment_142231" 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_142232" 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
†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=1761]
Source: Company reports/Coresight Research This week saw updates for Ahold Delhaize, Crocs and Macy’s which took the 2021 closures and openings counts to 4,926 and 4,925, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_142233" 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, Bluemercury 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_142234" 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=1736]
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, Bodycare, Kutchenhaus, New Look, Saltrock, The Original Factory Shop and Wren Kitchens. In light of these updates, our 2022 UK closures and openings counts stand at 332 and 399, 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 8 of 2022 and 2021, ended February 25, 2022, and February 26, 2021, respectively. Year to date in 2022, major UK retailers have announced 97.5% more openings and 68.7% fewer closures compared to the same time last year.2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=391]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=392]
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
Benson for Beds To Close One Store Bed and mattress retailer Benson for Beds plans to close one store in Wrexham by the end of February. The closure will take the company’s store count to 176. Bodycare Closes One Store Bbeauty and personal care retailer Bodycare closed its store in Accrington, Lancashire, on February 19, 2022. The company operates 132 stores as of February 25, 2022. Kutchenhaus Provides Store-Count update Home-furnishings retailer Kutchenhaus opened 15 stores in 2021 and opened one store in Potters Bar, Hertfordshire, on February 19, 2022. The update takes the company’s store count to 50 stores. New Look Opens One Store Apparel retailer New Look opened a clearance store in the Boulevard shopping center in Banbridge, Northern Ireland, on February 25, 2022. The opening takes the company’s store count to 468. Saltrock Opens One Store Apparel retailer Saltrock opened one store in Tavistock, Devon, on February 19, 2022. The opening takes the company’s store count to 54. The Original Factory Shop Opens One Store Discount store chain The Original Factory Shop opened one store in Fishguard on February 25, 2022. The opening takes the company’s store count to 176 stores. Wren Kitchens To Open One Store Fitted-kitchen retailer Wren Kitchens plans to open one store in the Hereford Retail Park on March 18, 2022. The opening will take the company’s store count to 106.Non-Store-Closure News
Toys“R”Us Plans To Relaunch in UK Toy Retailer Toys“R”Us, which closed all of its UK stores in 2018, plans to relaunch the brand in the next few months. To prepare for the relaunch, the company has hired James Ford as Senior Buyer for its core Toys“R”Us business, and Katie Ellis and Lukasz Jasinski for its Babies“R”Us business.Babies“R”Us. The new hires previously served as Senior Buyers for toys for major UK retailers. [caption id="attachment_142235" 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
Tesco includes Tesco and Jack’s stores.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_142236" 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=1799]
Source: Company reports/Coresight Research
This week saw updates for Kutchenhaus, which took the 2021 openings counts to 1,167. [caption id="attachment_142237" 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_142238" 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.