Weekly Store Openings and Closures Tracker #37: Charming Charlie to Close 100 Stores; Dollar General to Open 900 Stores

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1 December 1, 01 Weekly Store Openings and Closures Tracker #: Charming Charlie to Close 0 Stores; Dollar General to Open 00 Stores FGRT tracks store openings and closures for a select group of retailers in the US and the UK. 1) Year-to-date 01, the number of store closure announcements in the US has increased % year over year, bringing the total number of stores to be closed to,. ) Charming Charlie files for bankruptcy and plans to close 0 stores by the end of the year. ) Dollar General announces plans to open 00 new stores in 01. ) Gander Mountain emerges from bankruptcy and rebrands as Gander Outdoors. ) Year to date in the UK, there have been 1 store closure announcements from major retailers, significantly lower on a year-over-year basis. The store openings, however, are a slight increase compared to 01. Deborah Weinswig Managing Director FGRT deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved. 1

2 December 1, 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? Charming Charlie Files for Bankruptcy and Plans to Close 0 Stores Women s apparel and accessories retailer Charming Charlie filed for Chapter 11 bankruptcy on December 11 and plans to close 0 of its 0-plus stores by the end of the year. Last week, the retailer had announced a new backto-basics strategy, which included closing an unspecified number of underperforming stores in the US. Dollar General to Open 00 New Stores in 01 Dollar General announced plans for approximately,000 real estate projects, including 00 new stores, 1,000 store remodels and 0 store relocations. Management believes that investing in the business through highreturn new store growth is the best use of company capital, according to a company press release. Gander Mountain Emerges from Bankruptcy and Rebrands as Gander Outdoors Under the ownership of Camping World, Gander Mountain has emerged from bankruptcy and rebranded itself as Gander Outdoors. The retailer plans to open 1 0 stores by the end of the first quarter of 01 and an additional 0 stores during the second and third quarters of 01. deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.

3 December 1, 01 Year-to-Date 01 Major US Store Closure Announcements RadioShack Payless rue1 Ascena Retail Sears and Kmart Gymboree The Limited hhgregg GameStop Bebe Stores Wet Seal Crocs JCPenney Vitamin World BCBG American Apparel Gordmans Stores Charming Charlie Michael Kors Macy s The Children s Place Dollar Tree Aerosoles Gap Staples CVS Aaron s MC Sports Perfumania Alfred Angelo Guess Styles For Less Chico s Book World Lucy Acdvewear J.Crew lululemon athledca Eastern Ou`iaers Gander Mountain Benny s True Religion Ralph Lauren Walmart Neiman Marcus Urban Ou`iaers Giggle Rothman Furniture Pirch H&M ,0 Total:, announced store closures % year over year ,000 1,00 1,00 1,00 * Some of the figures have been calendarized. FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. The Children s Place will close 00 stores by 00. Ralph Lauren s store closing number was part of the 0-store closure plan announced in June 01. Ascena will close between and stores by July 01, depending on negotiations with landlords. Gap will close 00 stores by 00. Urban Outfitters plans to close eight to nine stores in 01. Vitamin World will close at least 0 stores. J.Crew to close 0 stores by January 01. deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.

4 December 1, 01 Year-to-Date 01 Major US Store Opening Announcements Dollar General Dollar Tree Aldi TJX Five Below Ulta Lidl Ross Stores Gap Walmart Sephora Hobby Lobby H&M Dick s Spordng Goods Target Costco Bonobos Macy s Backstage Nordstrom J.Crew Forever 1 (Riley Rose) Rodd & Gunn Abercrombie & Fitch Indochino ThredUP Homesense Mackage Outdoor Voices Kohl s Sears and Kmart Fendi Everlane Vimmia , Total:, announced store openings 0% year over year ,000 1,00 1,00 * Some of the figures have been calendarized. FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Aldi will complete a 00-store expansion by the end of 01. Target is only opening small-format stores. Macy s Backstage will be opened within existing fullline Macy s stores. Rodd & Gunn to open stores by the end of 01. Mackage plans to operate stores across North America in the next five years. Gap will open 0 stores by 00. Costco has opened stores net for the fiscal year ended September 01, and plans to open stores net for fiscal year 01. deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.

5 December 1, Major US Store Openings and Closures 01 Major US Store Closures Sports Authority Hancock Fabrics Sears and Kmart Men s Warehouse/Jos A. Bank Aeropostale The Children s Place Office Depot Dollar Tree Gap Walgreens Wolverine World Wide Ralph Lauren Staples Chico s FAS American Eagle Kohl s Finish Line Walmart JCPenney J.Crew Total:,1 announced store closures Major US Store Openings Dollar General 00 Dollar Tree TJX Walmart Ulta Ross Stores Dick s Spordng Goods Sephora H&M Aldi J.Crew Costco Under Armour Target Zara Total:, announced store openings deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.

6 December 1, Major UK Store Openings and Closures Year-to-Date 01 Major UK Store Closure Announcements* Lloyds Pharmacy Store Twenty One Brantano p Stores Argos Greggs Dixons Carphone Jones Bootmaker Linens Direct Budgens Next BrightHouse Pep&Co Jaeger Blue Style Group Brand Stores H&M Ness Clothing M&S Shoon French Connecdon Sainsbury s N Brown Triumph Mothercare Card Factory New Look icandy (icandy Cards and Gios) Joy the Store B&Q Kit and Ace American Eagle HMV Clas Ohlson Debenhams Peter Werth Total: 1 announced store closures % year over year * The chart only shows selected retailers. FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Greggs expects to close 0 0 stores by the end of 01. deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.

7 December 1, 01 Year-to-Date 01 Major UK Store Opening Announcements* Greggs M&S Smiggle Aldi The Works Lidl Tapi Carpets Ausdn Reed B&M Sainsbury s House Iceland Next The Fragrance Store Mountain Warehouse Sports Direct M&Co Shoe Zone Footasylum H&M Primark Dukla Waitrose Pets at Home Honey Birdeae White Stuff River Island Schuh Superdry Argos Boden Ben Sherman Total: announced store openings % year over year * The chart only shows selected retailers. FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. Aldi will complete a 00-store expansion by 0. Smiggle will open 00 stores by 01. Lidl will open 0 0 stores by the end of 01. Pets at Home will open five stores in fiscal 01 and stores in fiscal 01. M&Co will open 0 stores by 0. Primark is estimated to open nine stores in the UK in 01 and 11 for the fiscal year ended September 01. Greggs expects to open stores by the end of 01. Footasylum plans to open new stores a year. Marks & Spencer expects to open 0 new Simply Food stores by next year. deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.

8 December 1, Major UK Store Openings and Closures 01 Major UK Store Closures* BHS Ausdn Reed My Local Dixons Carphone Store Twenty One Brantano Tesco Card Factory B&Q Sky Monsoon/Accessorize Beaa Living ShoeZone Mothercare Neao Stores JD Sports M&S American Apparel New Look Argos Laura Ashley WHSmith Next Sainsbury s French Connecdon Banana Republic Morrisons Clas Ohlson Game Ben Sherman Iceland Foods McEwans of Perth Waitrose Oliver Bonas Furniture Barn Total: 1,01 announced store closures * The chart only shows selected retailers. FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.

9 December 1, Major UK Store Openings* Phase Eight Card Factory Sainsbury s Tesco B&M WHSmith Lidl TK Maxx Smiggle New Look JD Sports The Range Pep & Co White Stuff Waitrose M&Co Jack Wills WHSmith Next Oliver Bonas Tiger Superdrug Dreams Primark The White Company ScS Food Warehouse by Iceland Habitat Fat Face White Stuff Game Laura Ashley Massimo Dur Zara Ted Baker Argos Total: announced store openings * The chart only shows selected retailers. FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.

10 December 1, 01 Deborah Weinswig, CPA Managing Director FGRT New York: 1..0 Hong Kong:.11.1 China: Kiril Popov Senior Analyst John Mercer Senior Analyst Esme Pau, CFA Analyst Simic Chan Senior Research Associate Eva Kubicka Senior Research Associate Hong Kong: nd Floor, Hong Kong Spinners Industrial Building Phase 1& 00 Cheung Sha Wan Road, Kowloon Hong Kong Tel: 00 0 London: - Marylebone Road London, NW1 JQ United Kingdom Tel: (0)0 1 New York: 1 Broadway, 1th Floor New York, NY 01 Tel: 01 FungGlobalRetailTech.com deborahweinswig@fung1.com US: 1..0 HK:.11.1 CN: Copyright 01 The Fung Group. All rights reserved.