Weekly Store Openings and Closures Tracker 2018 #21: Sears to Close 40 More Stores

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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 3,992 and the number of store openings is 1,789.
  • Sears has announced it will shutter another 40 Sears and Kmart stores this summer.
  • Toys“R”Us bidder Isaac Larian has withdrawn his offer.
  • Year to date in the UK, there have been 420 store closure announcements and 524 store opening announcements.
  • Marks& Spencer (M&S) announced plans to close a further 14 stores by 2019, or over 100 by 2022.

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 3,992 and the number of store openings is 1,789.

What Is Happening this Week in the US?

Sears to Shutter 40 More Stores this Summer

Sears will close another 40 Sears and Kmart locations this summer, in addition to the 166 store closures it had already publicly disclosed for 2018. The retailer is suffering in a tough environment, with dwindling store traffic and revenues, as more shoppers turn to e-commerce options, particularly Amazon.

Non-Store-Closure News

Isaac Larian Drops Bid to Save Toys“R”Us in the US

Isaac Larian, CEO of MGA Entertainment, has given up on his bid to buy a substantial number of Toys“R”Us stores in the US. The toy mogul added that they were unable to reach a fair agreement with the current lenders, who he felt did not provide a fair valuation of the remaining US assets. Larian had submitted a $675 million bid in mid-April for 274 US Toys“R”Us stores.

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. Vera Bradley 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 opened net 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

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
Source: Company reports/Coresight Research

2018 Major UK Store Openings and Closures

Year to date in the UK, there have been 420 store closure announcements and 524 store opening announcements.

M&S Announces Plans to Close a Further 14 Stores by 2019

Marks & Spencer announced plans to close 14 stores by 2019 or over 100 stores in total by 2022. The 14 stores announced are the next tranche of proposed store closures in addition to the 21 that have been closed. The UK department store aims to reshape its UK store estate in line with its target to take at least one-third of sales online. Of the 14 stores to be closed, we estimate five store closures in 2018 and nine in 2019.


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

 

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