Weekly Store Openings and Closures Tracker 2018 #18: GNC to Close 200 Stores, Asda to Merge with Sainsbury’s

#
Report Download

Key Points

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 3,889and 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 vitaminstore 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.

Non-Store-Closure News

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.


Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. The Children’s Place will close 300 stores by 2020. Ascena will close between 268 and 667 stores by July 2019, depending on negotiations with landlords. Gap will close 200 stores by 2020. VeraBradley will close 50 stores by 2021.
Source: Company reports/Coresight Research

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Mackage plans to operate 25 stores across North America in the next five years. Gap will open 270 stores by 2020. Costco has openednet 26 stores for the fiscal year ended September 2017, and plans to open net 25 stores for fiscal year 2018. In June 2017, Aldi announced it was aiming for 900 store openings by end-2022.
Source: Company reports/Coresight Research

Year-to-Date 2018 Major US Store Bankruptcies


Source: Company reports/Coresight Research

2017 Major US Store Openings and Closures


Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research

2017 Major US Store Bankruptcies


Source: Company reports/Coresight Research

2018 Major UK Store Openings and Closures

Year to date in the UK, there have been447store closure announcements and 516 store opening announcements.

Poundworld to Axe up to 100 Stores and File fora 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 open75 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.”


Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Monsoon Accessorize announced in 2016 that it will close 141 stores as leases expire over the next five years.
Source: Company reports/Coresight Research

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Aldi will complete a 300-store expansion by 2022. Smiggle will open 200 stores by 2019. Pets at Home will open five stores in fiscal 2017 and 10 stores in fiscal 2018. M&Co will open 60–75 stores by 2022. Footasylum plans to open 8–10 new stores a year. Lidl opens 50–60 stores per year. Greggs plans to open net 110–130 stores this year.
Source: Company reports/Coresight Research

2017 Major UK Store Openings and Closures


Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research

Coresight Research has calendarized the announcements of store openings/closures, which involves an estimation for some retailers.
Source: Company reports/Coresight Research
Report Download