Weekly Store Openings and Closures Tracker 2018 #7: Land of Nod Closes All of Its Stores
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1 Weekly Store Openings and Closures Tracker 018 #7: Land of Nod Closes All of Its Stores Deborah Weinswig CEO and Founder Coresight Research US: HK: CN: Coresight Research tracks store openings and closures for a select group of retailers in the US and the UK. 1) Year-to-date 018, the number of US store closure announcements stands at 1,70 and the number of store openings is 1,. ) Land of Nod will close all six of its stores. Its merchandise will be sold on its website or at Crate & Barrel stores. ) JCPenney will close its Milwaukee distribution center and customer care center, and plans to shutter eight stores. ) Mattress Firm could be closing significantly more than the 00 stores announced in December, according to analysts at Wedbush. ) Nieman Marcus CEO Karen Katz retires and Geoffroy van Raemdonck will fill the role. ) David s Bridal debt was downgraded further to junk territory over potential default, which could entail store closures. 7) Year to date in the UK, there have been 7 store closure announcements and 1 store opening announcements. deborahweinswig@fung17.com US: HK: CN:
2 Coresight Research 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, grocery and furniture. 018 Major US Store Openings and Closures Year-to-date 018, the number of US store closure announcements stands at 1,70 and the number of store openings is 1,. What Is Happening this Week in the US? Land of Nod to Close All of Its Stores The Land of Nod, a division of Crate & Barrel, is closing all of its existing stores, although the brand s website will remain operational. There will be six store closures in total: Three Chicago-area stores including the original store at North and Clybourn avenues in Lincoln Park, one at Oakbrook Center and an outlet store in Naperville as well as stores in Seattle, Washington and Natick, Massachusetts. A store in Costa Mesa, California remains open, but will close by the end of May. Consumers will be able to purchase Land of Nod merchandise at 1 Crate & Barrel stores around the country or on the retailer s e-commerce website. JCPenney to Close Eight Stores and a Massive Distribution Center JCPenney will close its Milwaukee distribution center in July, due to recent store closures. The customer care center is expected to close next September. While no other facility closures are planned, the retailer also plans to shutter eight stores. Mattress Firm Could be Closing 00 Stores, According to Analysts at Wedbush Considering the accounting irregularities at Steinhoff and the operational troubles at subsidiary Mattress Firm, there is a high probability that Mattress Firm will close significantly more than the 00 stores announced in December. Our base case is now 00 store closures in 018, with potential for as many as 1,000 closures out of the,00 store base, analysts at Wedbush wrote in a note to investors on Wednesday. Non-Store-Closure News Karen Katz Officially Retires as Neiman Marcus CEO Karen Katz, President and CEO of Neiman Marcus since 0, officially stepped aside on February 1. Luxury fashion and retail veteran Geoffroy van Raemdonck will fill the role. Katz started at the Dallas-based retailer in 18, moving up the ranks through various executive positions, including EVP of Store Operations, President of catalog division Neiman Marcus Direct and President of NM stores, before taking over as CEO. Her successor van Raemdonck will be taking over during challenging times. David s Bridal Debt Downgraded Further into Junk Territory over Potential Default Moody s downgraded the debt of wedding apparel retailer David s Bridal further into junk territory, to Caa. It also revised its outlook to negative based on the increased likelihood of a distressed exchange or other balance sheet restructuring over the next 1 to 18 months, given the company s lack of meaningful improvement in operating performance in 017, high leverage and 01 maturities. We could see possible store closures due to the retailer s restructuring. deborahweinswig@fung17.com US: HK: CN:
3 Year-to-Date 018 Major US Store Closure Announcements Walgreens Ascena Retail Magress Firm Toys R Us Sears and Kmart The Children s Place Gap Walmart A gaci Bon-Ton Kiko USA Vera Bradley Camping World J.Crew Target JCPenney Macy s Land of Nod Nordstrom The Children s Place will close 00 stores by 00. Ascena will close between 8 and 7 stores by July 01, depending on negotiations with landlords. Gap will close 00 stores by 00. Vera Bradley will close 0 stores by Total: 1,70 announced store closures Year-to-Date 018 Major US Store Opening Announcements Dollar General Aldi Gap Walmart Gander Outdoors Untuckit Target Costco Lidl Indochino Lands End Mackage Belk Everlane Total: 1, announced store openings ,000 Mackage plans to operate stores across North America in the next five years. Gap will open stores by 00. Costco has opened net stores for the fiscal year ended September 017, and plans to open net stores for fiscal year 018. In June 017, Aldi announced it was aiming for 00 store openings by end-0. deborahweinswig@fung17.com US: HK: CN:
4 017 Major US Store Openings and Closures 017 Major US Store Closures RadioShack Payless rue1 Ascena Retail Sears and Kmart Gymboree The Limited hhgregg GameStop Bebe Stores Wet Seal Crocs JCPenney Vitamin World BCBG American Apparel Michael Kors Charming Charlie Dollar Tree Aerosoles Macy s Gap Staples CVS Aaron s MC Sports Perfumania Alfred Angelo Guess Styles For Less Chico s Gordmans Stores Book World Lucy Acivewear lululemon athleica J.Crew Eastern Ouhigers Gander Mountain Benny s True Religion Ralph Lauren The Children s Place Walmart Neiman Marcus Urban Ouhigers Giggle Rothman Furniture Pirch H&M , Total:,81 announced store closures ,000 1,00 1,00 1,00 deborahweinswig@fung17.com US: HK: CN:
5 017 Major US Store Openings Dollar General Dollar Tree Aldi TJX Five Below Ulta Ross Stores Gap Walmart Sephora H&M Hobby Lobby Lidl Dick s Sporing Goods Target Costco Bonobos Macy s Backstage Nordstrom J.Crew Forever 1 Rodd & Gunn Abercrombie & Fitch Indochino ThredUP Homesense Mackage Outdoor Voices Kohl s Sears and Kmart Fendi Everlane Vimmia ,8 Total:,1 announced store openings ,000 1,00 1,00 deborahweinswig@fung17.com US: HK: CN:
6 018 Major UK Store Openings and Closures Year to date in the UK, there have been 7 store closure announcements and 1 store opening announcements. Year-to-Date 018 Major UK Store Closure Announcements Monsoon/Accessorize Toys R Us M&S Full-Line Stores Total: 7 announced store closures Monsoon Accessorize announced in 01 that it will close 11 stores as leases expire over the next five years. deborahweinswig@fung17.com US: HK: CN:
7 Year-to-Date 018 Major UK Store Opening Announcements Greggs Co-op 0 Aldi Smiggle 7 Lidl M&S Simply Food M&Co 1 M&S Full-Line Stores Pets at Home Footasylum Total: 1 announced store openings Aldi will complete a 00-store expansion by 0. Smiggle will open 00 stores by 01. Pets at Home will open five stores in fiscal 017 and stores in fiscal 018. M&Co will open 0 7 stores by 0. Footasylum plans to open 8 new stores a year. Lidl opens 0 0 stores per year. Greggs plans to open net 1 stores this year. deborahweinswig@fung17.com US: HK: CN:
8 017 Major UK Store Openings and Closures 017 Major UK Store Closures Lloyds Pharmacy Store Twenty One Brantano p Stores Argos Dixons Carphone Greggs Jones Bootmaker Linens Direct Budgens Monsoon/Accessorize Next BrightHouse Pep&Co Jaeger Blue Style Group Brand Stores H&M Ness Clothing M&S Shoon French Connecion Sainsbury s N Brown Triumph Mothercare Card Factory New Look icandy (icandy Cards and Gins) Joy the Store B&Q Kit and Ace American Eagle HMV Clas Ohlson Debenhams Peter Werth Total: announced store closures deborahweinswig@fung17.com US: HK: CN:
9 017 Major UK Store Openings Greggs M&S Smiggle Aldi The Works Lidl Tapi Carpets Ausin Reed B&M Sainsbury s House Iceland H&M Next The Fragrance Store Mountain Warehouse Sports Direct M&Co Shoe Zone Footasylum Primark Dukla Waitrose Pets at Home Honey Birdege White Stuff River Island Schuh Superdry Argos Boden Ben Sherman Total: 88 announced store openings deborahweinswig@fung17.com US: HK: CN:
10 Deborah Weinswig, CPA CEO and Founder Coresight Research New York: Hong Kong: China: John Mercer Senior Analyst Charlie Poon Research Associate Hong Kong: nd Floor, Hong Kong Spinners Industrial Building Phase 1& 800 Cheung Sha Wan Road, Kowloon Hong Kong London: - Marylebone Road London, NW1 JQ United Kingdom New York: 1 Broadway, 18th Floor New York, NY 018 CoresightResearch.com deborahweinswig@fung17.com US: HK: CN:
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