US and UK Store Tracker Extra: Store Openings and Closures 2023 Review and 2024 Outlook

Published – January 2024

The Store Tracker Extra monthly series offers additional insight into retailers’ store closure and opening announcements.

In this report, we provide our yearly review of store closures and openings in the US and the UK. We review calendar 2023, breaking the counts down by sector, and present our projections for 2024. For the US, we also provide estimated square-footage impacts, location types (on-mall versus off-mall) and openings/closures as a proportion of retailers’ store bases.

• The infographic download summarizes key data from this report.

Data in this research report include:

2023 Review

• US and UK store closure and opening counts, 2019–2024E
• US and UK store closures and openings by sector, 2023
• Breakdown of US store closures in the home and office retail sector by retailer, 2023
• Breakdown of US store openings in the discount-store sector by retailer, 2023
• Details of announced US store closures and openings for 2023, by retailer—total closures, closures as a proportion of store base, total size (square footage) of estimated closures, predominant location type
• Announced UK store closures and openings for 2023, by retailer

2024 Outlook

• US and UK store closure and opening totals of major retailers in aggregate, and year-over-year change, 2018–2024E
• Year-to-date announced US and UK store closures and openings for 2024
• Coresight Research projections for US and UK store closures and openings in 2024

Introduction

US and UK Store Openings and Closures 2023 Review and 2024 Outlook: Coresight Research Analysis

• The US: 2023 Review
  • Overview of Closures and Openings
  • US Store Closures by Sector, in Detail: Home and Office Retailers Close the Most Stores in 2023
  • US Store Openings by Sector, in Detail: Discount Stores Continue To Top Store Openings in 2023
  • 2023 Major US Store Closures: Proportion of Store Base, Square Footage and Location Type
  • 2023 Major US Store Openings: Proportion of Store Base, Square Footage and Location Type
• The UK: 2023 Review
  • Overview of Closures and Openings
  • UK Store Closures by Sector, in Detail: Discount Retailers Drive Store Closures
  • UK Store Openings by Sector, in Detail: Grocery Sector Leads Store Openings
  • 2023 Major UK Store Closures
  • 2023 Major UK Store Openings
• Outlook for 2024
  • US Store Closures Expected To Total 4,000
  • US Store Openings Expected To Total 5,500
  • UK Store Closures Expected To Total 1,600
  • UK Store Openings Expected To Total 1,900

What We Think

• The Coresight Research View on the US and UK Consumer Economies
  • The US
  • The UK
• Implications for Brands and Retailers

Notes and Methodology

31-page PDF report

7-Eleven, Argos, Bed Bath & Beyond, Co-op, Dollar General, Family Dollar, Frasers Group, Foot Locker, JD Sports, Paperchase, Rite Aid, Ross Stores, The TJX Companies, Tuesday Morning, Walgreens Boots Alliance, Wilko

1. US Store Closure and Opening Counts
2. US Store Closures and Openings: Overview
3. US Store Closures by Sector, 2023
4. Breakdown of US Store Closures in the Home and Office Retail Sector by Retailer, 2023 (% of Total Closures in the Sector)
5. US Store Openings by Sector, 2023
6. Breakdown of US Store Openings in the Discount-Store Sector by Retailer, 2023 (% of Total Openings in the Sector)
7. Details of Announced US Store Closures for 2023, by Retailer (Listed by Most to Least Closures)
8. Details of Announced US Store Openings for 2023, by Retailer (Listed by Most to Least Openings)
9. UK Store Closure and Opening Counts
10. UK Store Closures and Openings: Overview
11. UK Store Closures by Sector, 2023
12. UK Store Openings by Sector, 2023
13. Announced UK Store Closures for 2023, by Retailer (Listed by Most to Least Closures)
14. Announced UK Store Openings for 2023, by Retailer (Listed by Most to Least Openings)
15. US Store Closure Totals of Major Retailers in Aggregate
16. Major Announced US Store Closures for 2024
17. US Store Opening Totals of Major Retailers in Aggregate
18. Major Announced US Store Openings for 2024
19. UK Store Closure Totals of Major Retailers in Aggregate
20. Major Announced UK Store Closures for 2024
21. UK Store Opening Totals of Major Retailers in Aggregate
22. Major Announced UK Store Openings for 2024