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.
Target to Close 12 Underperforming Stores
Target has decided to close 12 underperforming stores, all of which will close on February 3, 2018. Meanwhile, the company has opened 32 pint-sized stores this year, with 35 openings planned for 2018.
Sears to Close an Additional 63 Stores
Sears plans to close 45 Kmart stores and 18 Sears stores in late January 2018. Liquidation sales will begin as early as November 9 at these locations, but the stores will remain open during the holiday season.
Styles for Less Files for Chapter 11 Bankruptcy
Teen apparel chain Styles for Less has filed for Chapter 11 bankruptcy protection. The retailer blames intensified competition from discount stores, e-commerce and fast-fashion for the decision. The company has already closed 55 stores and slashed expenses in a bid to turn around the company. Styles for Less now operates 93 stores in California, Nevada, Arizona, Texas and Florida, according to a court filing.
Untuckit to Open 100 Stores by 2022
Online apparel retailer Untuckit aims to open 100 stores over the next five years, with plans to have 50 in operation by the end of 2018.
Under Armour Global CMO Exits the Company
Under Armour’s CMO Andrew Donkin has exited the company, after a rough third-quarter earnings announcements earlier this week. Donkin joined the retailer 15 months ago from Amazon, where he served as head of worldwide mass and brand marketing.
Sainsbury’s Argos Opens 23 New Stores and Closes 49 Stores
Sainsbury’s Argos opened 20 new Sainsbury’s stores and closed four Sainsbury’s convenience stores between March 11 and September 23 this year. The retailer also opened three Argos stores and closed 45 Argos stores over the same period. Sainsbury’s Argos expects to open three new supermarkets and 25 new convenience stores in the fiscal year ending March 2018.
Superdry Opens Three New Stores in the UK
Superdry added three new stores in the UK, boosting its UK portfolio to 102 stores for the 26 weeks ended October 28, 2017.
Marks & Spencer Closed Eight Stores and Opened 28 Stores in the First Half of the Fiscal Year
Marks & Spencer closed eight stores and opened 28 stores between September 30 and April 1 this year. The retailer expects 30 store closures in its clothing division by 2022, including six stores closed and relocated. M&S also expects to open 80 new Simply Food stores by next year.
M&Co Plans to Open Between 60 and 75 Stores by 2022
M&Co announced plans to open between 60 and 75 stores in the UK by 2022. Currently there are 300 stores operating worldwide. The company opened 14 new stores, while closing eight loss-making locations last year.