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 4,972 and the number of store openings is 2,811.
- Caleres has acquired the comfort shoe company Vionic Group for $360 million.
- YTD in the UK, there have been 1,314 store closure announcements and 777 store opening announcements.
- Debenhams confirmed media speculations this week that it is considering closing up to 50 stores.
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 4,972 and the number of store openings is 2,811.
What Is Happening this Week in the US?
No major retailers have reported openings or closures this week.
Caleres Acquires the Comfort Shoe Company Vionic Group for $360 Million
Clayton-based footwear company Caleres last week announced its acquisition of the comfort shoe company Vionic Group for $360 million. The company said that this move allows it to expand its brand portfolio and gives it additional access to the thriving comfort footwear segment. After this acquisition, Caleres owns 18 shoe brands including Naturalizer, Dr. Scholl’s Shoes and Ryka.
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
YTD in the UK, there have been 1,314store closure announcements and 777 store opening announcements.
What Is Happening this Week in the UK?
Debenhams Plans to Close up to 50 Stores
British retailer Debenhams confirmed media speculations about its store closures and announced plans to close up to 50 stores over the next three to five years. The retailer had earlier announced plans to close up to 10 stores and had closed two—at Eltham and Farnborough—in January 2018. The company stated that the stores earmarked for closure are currently profitable but will not be so in the long term. The company is reviewing its portfolio based on current market trends and has also identified up to 100 stores where it sees positive returns on future investment. These stores account for around 80% of Debenhams’ gross merchandise value and a higher proportion of profits. CEO Sergio Bucher commented, “It has been a tough year for retail in 2018 and our performance reflects that. We are taking decisive steps to strengthen Debenhams in a market that remains volatile and challenging.” He added that the company is making “tough decisions on stores where financial performance is likely to deteriorate over time.” Debenhams has closed two stores so far this year. We have not added the additional store closures to our 2018 chart as the company has not indicated that any of its further store closures are scheduled in this calendar year.
Co-Op to Open Food Stores at Acquired Waitrose Stores
The Co-op is planning to open three new food stores this week at former Waitrose store locations. The new stores come after the company completed a deal with Waitrose in June this year to buy four of its stores. The three stores are opening in Birmingham and Manchester, and another store is poised to open in London next month. The new store openings are part of the Co-op’s previously announced plan to open 100 stores in 2018.
2017 Major UK Store Openings and Closures