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.
- Gap is likely to close “hundreds” of stores.
- Gymboree is considering closing half its stores.
- Sears is looking for buyers for over 500 stores.
- YTD in the UK, there have been 1,394 store closure announcements and 783 store opening announcements.
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 opening and closure charts for 2017 and 2018 to reflect this.
What Is Happening this Week in the US?
Gap to Close ‘Hundreds’ of Stores
US apparel and accessories retailer Gap announced last week that it intends to shut “hundreds” of stores “with urgency.” The company announcement will affect only Gap stores, it is not expected to include other brands Gap Inc. owns such as Banana Republic or Old Navy. The retailer did not disclose a specific number of stores, locations or timelines for these closures, so those numbers are not included in our total figures in this report.
Gymboree Mulls Closure of Over Half of its Stores
US based children’s apparel retailer Gymboree is reportedly considering closing half of its approximately 900 stores. The retailer who survived bankruptcy last year has called in consulting firm Berkley Research group LLC for assistance in evaluating options including that of filing bankruptcy again. We await details of confirmed closures and timelines before including the closures to our total.
Sears Looking to Sell over 500 Stores
US department store chain Sears, which filed for bankruptcy in October, is now scouting for buyers for over 500 stores (to be sold as Sears stores) as it seeks to keep the brand alive. The retailer obtained approval from the court last week to sell its best performing stores. Although the company is looking for buyers, it has not ruled out liquidation.
Year-to-Date 2018 Major US Store Bankruptcies
2017 Major US Store Bankruptcies
2018 Major UK Store Openings and Closures
YTD in the UK, there have been 1,394 store closure announcements and 783 store opening announcements.
What Is Happening this Week in the UK?
No major retailers reported store openings or closures this week.
2017 Major UK Store Openings and Closures