FGRT tracks store openings and closures for a select group of retailers in the US and the UK.
FGRT has a dedicated team tracking 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 and furniture.
What Is Happening this Week in the US?
H&M Has Opened 43 Stores Net in the US in the First Nine Months of 2017
So far this year, H&M has opened 46 stores in the US, while closing three locations. Globally, the company has opened 202 stores on a net basis over the same period. This brings its store portfolio to a total of 4,553 stores, according to the company’s nine-month report.
Ascena Retail’s President Says No Change to Store Closure Target
On Ascena Retail’s earnings call, Brian Lynch, President and COO, said that there is no change to the number of store closures planned by 2019. Since the start of the fleet optimization program in January, the company has completed 120 of the anticipated 667 closures.
Non Store Closure News
Perry Ellis Terminates George Feldenkreis’ Role as Executive Chairman
Perry Ellis eliminated Founder George Feldenkreis’ role as Executive Chairman and elected David Scheiner to serve as Non-Executive Chairman. Feldenkreis remains a member of the board of directors. These changes are part of a multi-year leadership succession planning process, according to a company press release.
Kohl’s CEO Kevin Mansell Is Set to Retire Next Year
Kohl’s CEO Kevin Mansell is set to retire in May 2018. The company appointed Michelle Gass, who currently holds the position of Chief Merchandising and Customer Officer, as the company CEO-elect. Gass joined Kohl’s in 2013 as Chief Customer Officer responsible for marketing and e-commerce. Prior to joining Kohl’s, she worked for Starbucks for 17 years in various roles in marketing, products and strategy.
What Is Happening this Week in the UK?
Shoe Zone Opening 10 Large-Format Stores
Value footwear retailer Shoe Zone is opening 10 large-format stores this year, and plans to open a further 10 in 2018. Shoe Zone boss Nick Davis is targeting to open 50 big-box stores over the next few years.
H&M Has Closed Three Stores Net in the UK in the First Nine Months of 2017
According to company reports, H&M has closed 12 stores in the UK so far this year, while opening nine new locations.
Aldi Plans to Open 70 New UK Stores in 2018
UK discount supermarket Aldi currently operates 726 stores in the UK, and plans to open a further 70 new stores in the UK in 2018 as part of its plans to reach 1,000 by 2022. A record 23 stores are planned to open in the final three months of the year.
Primark Opens 30 Stores Across Nine Countries
Clothing and accessories company Primark has opened 30 new stores across nine countries: 11 stores in the UK; three stores each in Spain, France, the Netherlands, Italy and the US; two in Germany; and one each in Belgium and Ireland. The fourth quarter saw the addition of four stores added in the UK, one in Italy and one in France.
River Island Opened Five Stores in August
High street fashion brand River Island opened five stores in August, increasing its store portfolio to 250 stores. Company CEO Ben Lewis said the firm is investing in store and category expansion.
Next Plc Expects to Close Eight Stores Net in the Year Ended January 2018
Next Plc, a clothing, footwear and home products retailer, expects to open 20 stores and close 28 stores in the year ending January 2018.