Weekly Store Openings and Closures Tracker #30: Walgreens to Close 600 Stores; Lloyds Pharmacy to Close 190 Stores.
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1 October, 01 Weekly Store Openings and Closures Tracker #0: Walgreens to Close 0 Stores; Lloyds Pharmacy to Close Stores Deborah Weinswig Managing Director FGRT deborahweinswig@fung1.com US: 1.6. HK: CN: 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 0% year over year, bringing the total number of stores to be closed to 6,11. ) Walgreens plans to close around 0 Rite Aid stores, starting next spring. ) Hudson s Bay Company announced that its CEO will step down effective November 1. The company has sold its Lord & Taylor flagship Fifth Avenue store to WeWork. ) Toys R Us has received court approval for $.1 billion of new financing. ) Year to date in the UK, there have been store closure announcements from major retailers, significantly lower on a year-over-year basis. The 0 store openings, however, are a slight increase compared to ) Lloyds Pharmacy announced it will close stores. deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved. 1
2 October, 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? Walgreens to Close Around 0 Rite Aid Stores, Starting Next Spring Walgreens Boots Alliance (WBA) plans to close about 0 drugstores, as it completes its acquisition of Rite Aid stores, according to a company spokesperson. The stores set to be closed were chosen due to overlap with another Rite Aid or Walgreens location. We have not included this 0-store number into our estimate for total store closures announcements for 01, since the closings will not take place until next spring and will be completed over an 1-month period. Non-Store Closure News Hudson s Bay Company CEO Steps Down Hudson s Bay Company (HBC) announced that Jerry Storch will step down as CEO, effective November 1, 01. Richard Baker, Governor and Executive Chairman of HBC, will take over the role until a permanent replacement is found. Hudson's Bay Company Sells Lord & Taylor Fifth Avenue Flagship Building to WeWork Hudson s Bay Company (HBC) has entered into a strategic partnership with office-sharing company WeWork. HBC will sell its New York City flagship Lord & Taylor store to WeWork Property Advisors in a transaction valued at $0 million. The Lord & Taylor store is to be converted into WeWork s New York headquarters, WeWork office space and a redesigned smaller Lord & Taylor store of approximately,000 square feet. See our recent report: Hudson s Bay Company and WeWork Redefine the Traditional Department Store Toys R Us Receives Court Approval for $.1 Billion of New Financing Toys R Us announced that the US Bankruptcy Court had entered a final order granting the company $.1 billion in debtor-in-possession financing. The financing is meant to keep the company stocked and operating as normal through the upcoming holiday season and beyond. deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved.
3 October, 01 Year-to-Date 01 Major US Store Closure Announcements RadioShack Payless Inc rue1 Ascena Retail Sears and Kmart Gymboree The Limited hhgregg GameStop Bebe Stores Inc Wet Seal Crocs Inc. JCPenney BCBG American Apparel Gordmans Stores Inc. Michael Kors Macy s The Children s Place Aerosoles Gap Staples CVS Aaron s MC Sports Perfumania Alfred Angelo Guess Vitamin World Chico s Lucy Acivewear lululemon athleica Eastern Ougihers Gander Mountain Benny s True Religion Ralph Lauren Walmart Neiman Marcus Urban Ougihers Rothman Furniture Pirch Total: 6,11 announced store closures 0% year over year 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 016. Ascena will close between 6 and 66 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. deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved.
4 October, 01 Year-to-Date 01 Major US Store Opening Announcements Dollar Tree Aldi 00 TJX Five Below Ulta Lidl Ross Stores Gap Walmart Sephora Hobby Lobby Dick s Sporing Goods, Inc. Target Costco Bonobos Macy s Backstage Nordstrom Forever 1 (Riley Rose) Rodd & Gunn Abercrombie & Fitch ThredUP Homesense Mackage Kohl s Fendi Vimmia Total:,0 announced store openings % year over year Aldi will complete a 00-store expansion by the end of 01. Target is only opening stores in small format. Macy s Backstage will be opened within existing full-line 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 6 stores net for the fiscal year ended September 01, and plans to open stores net for fiscal year 01. deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved.
5 October, Major US Store Openings and Closures 016 Major US Store Closures Sports Authority Hancock Fabrics Sears and Kmart Men s Warehouse/Jos A. Bank Aeropostale The Children s Place Office Depot Gap Walgreens Wolverine World Wide Ralph Lauren Staples Chico s FAS American Eagle Kohl s Finish Line Walmart JCPenney Total:,0 announced store closures Major US Store Openings Dollar General Dollar Tree TJX Walmart Ulta Ross Stores Dick s Sporing Goods Sephora Aldi Costco Under Armour Target Zara Total:, announced store openings ,000 deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved.
6 October, Major UK Store Openings and Closures Lloyds Pharmacy to Close Stores Lloyds Pharmacy announced it will close stores across England because of government cuts, business rates and the apprenticeship levy. The retailer has yet to announce a possible timeline for the closures. Year-to-Date 01 Major UK Store Closure Announcements* Lloyds Pharmacy Store Twenty One Brantano p Stores Greggs Dixons Carphone Jones Bootmaker Linens Direct Budgens Next BrightHouse Pep&Co Jaeger Blue Inc Style Group Brand Stores Ness Clothing French Connecion N Brown Triumph Mothercare Card Factory New Look icandy (icandy Cards and Giqs) Joy the Store B&Q Kit and Ace American Eagle Sainsbury s HMV Clas Ohlson Debenhams Argos Peter Werth Total: announced store closures 16% year over year * The chart only shows selected retailers. Greggs expects to close 0 0 stores by the end of 01. deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved. 6
7 October, 01 Year-to-Date 01 Major UK Store Opening Announcements* Greggs Smiggle Aldi The Works Lidl Tapi Carpets Ausin Reed M&S House Iceland Next The Fragrance Store Sports Direct M&Co Shoe Zone Footasylum Primark Dukla Waitrose B&M Pets at Home Honey Birdehe White Stuff River Island Schuh Boden Ben Sherman Total: 0 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 stores by the end of 01. Pets at Home will open five stores in fiscal year 01 and stores in fiscal year 01. M&Co will open 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 10 stores by the end of 01. Footasylum plans to open new stores a year. deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved.
8 October, Major UK Store Openings and Closures 016 Major UK Store Closures* BHS Ausin Reed My Local Dixons Carphone Store Twenty One Brantano Tesco Card Factory B&Q Sky Monsoon/Accessorize Beha Living ShoeZone Mothercare Neho Stores JD Sports M&S American Apparel New Look Argos Laura Ashley WHSmith Next Sainsbury s French Connecion 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. deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved.
9 October, Major UK Store Openings* Phase Eight Card Factory Sainsbury s Tesco B&M WHSmith Lidl TK Maxx Smiggle New Look JD Sports 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 Dut Zara Ted Baker Argos Total: announced store openings * The chart only shows selected retailers. deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved.
10 October, 01 Deborah Weinswig, CPA Managing Director FGRT New York: 1.6. Hong Kong: 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: London: -6 Marylebone Road London, NW1 6JQ United Kingdom Tel: (0)0 616 New York: 1 Broadway, 1th Floor New York, NY 01 Tel: FungGlobalRetailTech.com deborahweinswig@fung1.com US: 1.6. HK: CN: Copyright 01 The Fung Group. All rights reserved.
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