Coresight Research tracks store openings and closures for a select group of retailers in the US and the UK, as well as major US store bankruptcies.
- Year-to-date (YTD) 2018, the number of US store closure announcements stands at 4,589 and the number of store openings is 2,742.
- Five Below plans to open 50 new stores.
- YTD in the UK, there have been 1,230 store closure announcements and 715 store opening announcements.
- Tesco will launch a new discount chain on September 19.
- Ralph Lauren is to open three new Polo stores in the UK.
Coresight Research tracks news about store closures and openings, bankruptcies and management changes. Our Weekly Store Openings and Closures Tracker focuses on department stores and specialty retail, including, but not limited to, softlines, hardlines, consumer electronics, grocery and furniture.
2018 Major US Store Openings and Closures
YTD 2018, the number of US store closure announcements stands at 4,589 and the number of store openings is 2,742.
What Is Happening this Week in the US?
Five Below Plans to Open 50 New Stores
Discount store chain Five Below recently announced that it plans to open 50 new stores in its third quarter. CEO Joel Anderson told analysts on the company’s second-quarter earnings call that “This would be a record for us, and we have already opened 17 of them.” The retailer opened 67 stores in the first half of 2018, with 34 stores in its second quarter and 33 in its first quarter. The retailer has also entered Arkansas, expanding its operations in total to 33 states in the US. These openings are a part of the planned 125 store openings for this year.
Ollie’s Bargain Outlet Plans to Open 36 to 38 Stores
Discount retailer Ollie’s Bargain Outlet reported that it plans to open 36 to 38 stores by the end of its fiscal 2018. The company stated that it has opened six new stores in its second quarter report adding two new locations, Arkansas and Louisiana. The retailer opened eight stores in its first quarter earlier this year. These store openings are included in the plan to open 36 to 38 stores this year.
Walgreens to Buy Pharmacy Patient Files from Fred’s for $165 Million
Walgreens, the second largest pharmacy store in the US, has made an agreement with Fred’s to buy pharmacy patient files and related pharmacy inventory from 185 of Fred’s stores for $165 million. The company will also pay an amount equivalent to the value of pharmacy inventory. After the deal is completed, Fred’s will still operate around 162 pharmacies across its 600 stores. Richard Ashworth, Walgreens president of operations said that “This agreement increases patient access to Walgreens pharmacies in the South-Eastern United States and allows us to introduce more people to Walgreens trusted pharmacy services in these communities.”
Year-to-Date 2018 Major US Store Bankruptcies
2017 Major US Store Openings and Closures
2017 Major US Store Bankruptcies
2018 Major UK Store Openings and Closures
Year to date in the UK, there have been 1,230 store closure announcements and 715 store opening announcements.
What Is Happening this Week in the UK?
Tesco to Launch New Discount Format
Tesco, Britain’s largest grocer, will launch a new discount chain, expected to be called Jack’s, next week. The store will be unveiled by Tesco CEO Dave Lewis in Chatteris, Cambridgeshire on September 19. The supermarket chain is taking on German rivals Aldi and Lidl who have been growing market share for several years. We have not added this to the chart as the store is yet to open.
Ralph Lauren to Open Three New Polo Stores
Luxury clothing brand Ralph Lauren has announced the opening of three new Polo stores in the UK. The company opened its first UK store on September 8 in Canary Wharf. It plans to open two more stores in October in Manchester and Leeds. The company stated that, “The physical store expansion complements Ralph Lauren’s recent upgrade to its digital flagship in Europe, which provides an improved user experience with better functionality, faster check-out and customization.”
Abercrombie & Fitch to Open Second UK Store
American retailer Abercrombie & Fitch opened a new prototype store, which features changing rooms with separate light and music controls and phone charging docks, in Manchester on September 6. This is its second store in the UK and one of the eight new prototype stores that have been opened worldwide since February 2017. These stores are designed to increase product interaction and create a more engaging shopping experience.
Waterstones to Acquire Book Chain Foyles
British book retailer Waterstones is set to buy family-owned bookseller Foyles. The deal will see the takeover of a 115-year old business operating through seven branches across the UK. The companies have not stated the value of the deal but the transaction is expected to complete before the year ends. James Daunt, Managing Director of Waterstones, said that “We will be better positioned to protect and champion the pleasures of real bookshops in the face of Amazon’s siren call.”
The Co-op to Acquire UK’s App-based Dimec
The Co-op Group is poised to acquire Dimec, an NHS-approved digital platform which allows patients and pharmacists to manage repeat prescriptions. This move marks the company’s return to the pharmacy sector four years after it closed its physical drugstore chain amid a cash crisis. The company has spent £10 million ($13 million) for the acquisition, according to Sky News.
2017 Major UK Store Openings and Closures