Deep Dive: US Retail—Store Closure and Management Change Tracker

Executive Summary

• Store closure and bankruptcy announcements: BCBG will be closing all of their stores due to bankruptcy. Lucy Activewear will also close all of its stores as it is merged into the North Face brand.  JCPenney will be closing 13%–14% of its stores, while Crocs will be closing 29% of its stores.
• Store opening announcements: Lidl is opening 100 stores within a year and Dick’s Sporting Goods plans to open five more. Ross Stores is on track to its plan to opening 90 stores in 2017.
• Management changes: Ten major retailers that we track have announced management changes, including Adidas, ALDO, Barneys, Calvin Klein, Céline, Crocs, Louis Vuitton, Next, Tiffany and Tory Burch.
• Other major announcements: Skip Hop Holdings, Blue Nile and Wet Seal have been acquired by institutional investors.  Hudson’s Bay Co. failed to reach an agreement to acquire Macy’s. Other announcements include: Kate Spade is putting itself up for sale, Neiman Marcus is restructuring its debt, and Finish Line has sold of JackRabbit to a fund.