Weekly Store Openings and Closures Tracker #28: Walmart to Open 280 Stores Net in FY2018 and FY2019; Perfumania Exits Bankruptcy

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KEY POINTS

FGRT tracks store openings and closures for a select group of retailers in the US and the UK.

  • Year-to-date 2017, the number of store closure announcements in the US has increased 203% year over year, bringing the total number of stores to be closed to 6,121.
  • Walmart expects total store growth of 280 globally in each of fiscal 2018 and fiscal 2019.
  • Ross Stores opened 40 new locations within two months.
  • Perfumania’s reorganization plan gets US Bankruptcy Court approval.
  • Year to date in the UK, there have been 662 store closure announcements from major retailers, significantly lower on a year-over-year basis. The 741 store openings, however, are a slight increase compared to 2016.

2017 Major US Store Openings and Closures

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?

Walmart Expects to Grow its Store Base by 280 in Each of the Fiscal Years 2018 and 2019

Management also expects to open no more than 40 Supercenters this fiscal year and no more than 15 Supercenters and 10 Neighborhood Markets in fiscal 2019. According to the company’s reports, Walmart has opened 89 stores and closed 19 stores in the US between February 1, 2017 and July 31, 2017. The bulk of the store growth over the next fiscal year will come from China and Mexico, where the company expects to open approximately 255 new stores.

 

Ross Stores Opens 40 New Locations in Two Months

Ross Stores announced the recent opening of 40 stores across 22 different states in September and October, boosting its 2017 new store count to around 100 stores. The 40 stores included 30 Ross Dress for Less and 10 dd’s Discounts stores. Ross currently operates over 1,400 Ross and over 200 dd’s Discounts stores. Management commented that it believes that over the longer term, Ross can grow to 2,000 locations and dd’s can become a chain of 500 stores.

 

Perfumania’s Reorganization Plan Gets US Bankruptcy Court Approval

Perfumania’s reorganization plan has been accepted by the US Bankruptcy Court and is expected to become effective on October 11, 2017. The company will continue to operate as a privately-held company with a reduced retail store portfolio. A spokesperson for Perfumania mentioned that the retailer had closed 65 stores during the bankruptcy process, and that it could close more stores in the future.

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2016 Major US Store Openings and Closures

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2017 Major UK Store Openings and Closures

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2016 Major UK Store Openings and Closures

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