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 2018, the number of US store closure announcements stands at 3,889 and the number of store openings is 1,759.
- GNC plans to close around 200 stores this year.
- Asda, the UK arm of Walmart, announced a merger deal with Sainsbury’s worth $10 billion.
- Year to date in the UK, there have been 447 store closure announcements and 516 store opening announcements.
- In the UK, Poundworld could close up to 100 stores and is considering a CVA.
- House plans to open 75 stores in the UK in three years.
- House of Fraser is looking to close stores as part of turnaround plans to create a leaner business.
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
Year-to-date 2018, the number of US store closure announcements stands at 3,889 and the number of store openings is 1,759.
What Is Happening this Week in the US?
GNC to Close Around 200 Stores in 2018
GNC announced that it would be closing around 200 stores in the US and Canada this year. The vitamin store has close to 8,905 locations worldwide, with 3,385 in the US and Canada. The company said that efforts toward lease renegotiations and relocation opportunities are ongoing, which will affect the total number of stores to be closed.
Walmart’s Asda Grocery Chain to Merge with Sainsbury’s
Walmart has announced a merger between its UK-based Asda grocery chain and upmarket UK grocer Sainsbury’s. The deal values Asda at roughly £7.3 billion, or $10 billion, and Walmart will hold 42% of the combined business following the merger. Combined, the two grocery chains comprise a network of more than 2,800 stores and represent about 30% of the UK grocery market.
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 447 store closure announcements and 516 store opening announcements.
Poundworld to Axe up to 100 Stores and File for a CVA
Discount chain Poundworld plans to close up to 100 of its 355 stores amid turmoil in the retail landscape. The discount retailer is expected to announce proposals for a company voluntary arrangement (CVA) during the first half of May, seeking rent cuts at many of its remaining stores.
House to Open 75 Stores in the UK in Three Years
Homewares retailer House plans to open 75 stores across the UK in the next three years. The Australian retailer opened its first UK store at Westgate Oxford and its second store at Bracknell’s The Lexicon. It will open three more stores in Sheffield’s Meadowhall shopping center, Norwich and Bristol before the end of June. House currently operates from more than 150 stores in Australia.
House of Fraser to Close Stores as Part of Turnaround Plans
House of Fraser plans to close stores as the new owner, C.banner, looks to turn around the department store chain. House of Fraser has 59 stores in the UK and Ireland. “There is a need to create a leaner business that better serves the rapidly changing behaviours of our customer base,” said Frank Slevin, the Executive Chairman. “House of Fraser’s future will depend on creating the right portfolio of stores that are the right size and in the right location.”
2017 Major UK Store Openings and Closures