Weekly US and UK Store Openings and Closures Tracker 2019, Week 17: Office Depot to Close 50 Stores; In the UK, British Land Sells 12 Sainsbury’s Stores

Executive Summary

Coresight Research tracks store closures, openings and bankruptcies for a select group of retailers in the US and the UK.  Our Weekly Store Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture.

Click here to view our full collection of Weekly US and UK Store Trackers.

Highlights from this week’s Store Tracker:

• In the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. So far this year, US retailers have announced 6,105 store closures and 2,658 store openings. This compares to 5,864 closures and 3,239 openings for the full year 2018.
• Office-goods retailer Office Depot has announced plans to shut 50 stores in 2019.
• Home decor and imported furniture specialist Pier 1 Imports has announced that it will shut at least 45 stores in its current fiscal year that ends in March 2020.
• Year to date, UK retailers have announced 322 store closures and 356 store openings.
• Property development and investment company British Land has sold 12 Sainsbury’s superstores to US real estate investment trust company Realty Income Corporation for a sum of £492 million ($637 million).