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 5,468 and the number of store openings is 3,060.
- Lowe’s has announced plans to shut 20 US stores.
- Destination Maternity will shut 117 stores.
- Amazon has opened two 4-Star stores.
- YTD in the UK, there have been 1,320 store closure announcements and 777 store opening announcements.
- New Look plans to close 85 stores.
- Homebase is to shut 17 stores in the next six months.
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 5,468 and the number of store openings is 3,060. We have expanded our coverage list to include more US retailers. We have updated our openings and closures charts for 2017 and 2018 to reflect this.
What Is Happening this Week in the US?
Lowe’s Plans to Close 20 US Stores
Home improvement retailer Lowe’s is closing 47 underperforming North American stores which includes 20 US stores and 27 Canadian stores. The store closures will be completed by February 1, 2019 and a majority of these stores are situated within ten miles of another Lowe’s location. “The store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” said CEO Marvin Ellison, in a statement.
Destination Maternity to Shut 117 stores
Maternity apparel designer and retailer Destination Maternity announced last week that it will shut down 117 stores and leased shops by the end of 2018, with a further 42 to 67 closures planned in fiscal 2019. The closures are a part of the retailer’s multiyear strategic plan called Destination Forward.
Amazon 4-Star Stores Open in Colorado and California
Amazon has opened its second and third Amazon 4-star concept stores in Lone Tree, Colorado and Berkeley, California, respectively. The e-commerce giant had launched the first Amazon 4-star store in New York in late September. The new stores come as part of Amazon’s growing interest in physical retail. Amazon 4-star stores feature items that have been rated 4 stars and above on Amazon.com.
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 1,320store closure announcements and 777 store opening announcements.
What Is Happening this Week in the UK?
New Look Plans to Shut Down Around 100 Stores
Fashion retailer New Look has announced that it will close 85 stores in the UK as part of a turnaround strategy to lower costs and enhance profitability, with 13 more stores being at risk of closure. This includes 60 stores that were earmarked in March for closure this year under a company voluntary arrangement (CVA). Our tracker does not reflect the 85 stores as New Look has not confirmed a timeframe for the closure of these.
Homebase to Close 17 Stores
Home improvement retailer Homebase has announced that it will be closing 17 stores in the next six months. Homebase had previously announced in August that 42 stores would be closed by Spring 2019. It had also classed an additional 70 stores as “amber” and these remained under ongoing review and were to remain open subject to the outcome of negotiations with the store landlords.
2017 Major UK Store Openings and Closures