Weekly Store Openings and Closures Tracker 2018 #3: Kiko USA and A gaci File for Bankruptcy; Greggs to Open Net Stores

Transcription

1 January 1, 018 Weekly Store Openings and Closures Tracker 018 #: Kiko USA and A gaci File for Bankruptcy; Greggs to Open Net 1 Stores FGRT 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 1,8 and the number of store openings is 1,78. ) Beauty retailer Kiko USA files for bankruptcy. ) Women s fashion retailer A gaci files for bankruptcy. ) Bon-Ton enters into forbearance agreements. ) Year to date in the UK, there have been 8 store closure announcements and store opening announcements. ) Greggs plans to open net 1 stores this year. Deborah Weinswig Managing Director FGRT deborahweinswig@fung17.com US: 17.. HK: CN: deborahweinswig@fung17.com US: 17.. HK: CN:

2 January 1, 018 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, grocery and furniture. 018 Major US Store Openings and Closures Year-to-date 018, the number of US store closure announcements stands at 1,8 and the number of store openings is 1,78. What Is Happening this Week in the US? Cosmetics Retailer Kiko USA Files for Bankruptcy Kiko USA, the US subsidiary of Italian cosmetics retailer Kiko, filed for Chapter 11 bankruptcy. As part of its plans to restructure, the retailer wants to close of its domestic locations. Kiko USA CEO Frank Furlan said that the company has been struggling with declining mall traffic and the shift from brick-and-mortar shopping to e- commerce. Women s Fashion Retailer A gaci Files for Bankruptcy Women s apparel retailer A gaci filed for Chapter 11 bankruptcy. Company management said that rapid expansion into new markets has spread the organization too thin to respond effectively to the rapidly changing trends in the retail market. A gaci plans to close out of a total of 7 stores. Non-Store-Closure News Bon-Ton Enters Into Forbearance Agreements Bon-Ton Stores announced that it has entered into forbearance agreements with its bondholders, which means the bondholders have agreed not to exercise their rights against the retailer after the grace period ended on a $1 million interest payment due on December 1, 017. The forbearance agreements will expire on January, 018, unless further extended by the parties. deborahweinswig@fung17.com US: 17.. HK: CN:

3 Year-to-Date 018 Major US Store Closure Announcements January 1, 018 Walgreens Ascena Retail Macress Firm Sears and Kmart The Children s Place Gap Walmart A gaci Bon-Ton Kiko USA Vera Bradley Camping World J.Crew Target Macy s Total: 1,8 announced store closures 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. 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 01. Year-to-Date 018 Major US Store Opening Announcements Dollar General Gap Walmart Gander Outdoors Untuckit Target Costco Indochino Lands End Mackage Belk Everlane Total: 1,78 announced store openings ,000 FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. 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. deborahweinswig@fung17.com US: 17.. HK: CN:

4 January 1, 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 Gordmans Stores Charming Charlie Michael Kors The Children s Place Dollar Tree Aerosoles Macy s Gap Staples CVS Aaron s MC Sports Perfumania Alfred Angelo Guess Styles For Less Chico s Book World Lucy Acgvewear J.Crew lululemon athlegca Eastern Ouficers Gander Mountain Benny s True Religion Ralph Lauren Walmart Neiman Marcus Urban Ouficers Giggle Rothman Furniture Pirch H&M , Total:, announced store closures ,000 1,00 1,00 1,00 FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. deborahweinswig@fung17.com US: 17.. HK: CN:

5 January 1, Major US Store Openings Dollar General Dollar Tree Aldi TJX Five Below Ulta Lidl Ross Stores Gap Walmart Sephora Hobby Lobby H&M Dick s Sporgng 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:, announced store openings ,000 1,00 1,00 FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. deborahweinswig@fung17.com US: 17.. HK: CN:

6 018 Major UK Store Openings and Closures Year to date in the UK, there have been 8 store closure announcements and store opening announcements. January 1, 018 Greggs Plans to Open Net Stores of 1 This Year Greggs plans to increase the rate of store openings, with the number of net additions expected to be in the 1 range. Last year, the retailer opened 11 new shops and closed 1, growing its portfolio to 1,8 stores trading as at December 0, 017. Year-to-Date 018 Major UK Store Closure Announcements Toys R Us M&S Full-Line Stores Total: 8 announced store closures FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. deborahweinswig@fung17.com US: 17.. HK: CN:

7 Year-to-Date 018 Major UK Store Opening Announcements January 1, 018 Greggs Co-op Aldi Smiggle 7 Lidl M&Co 1 M&S Full-Line Stores Pets at Home Total: announced store openings Footasylum 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. 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: 17.. HK: CN:

8 January 1, 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 Next BrightHouse Pep&Co Jaeger Blue Style Group Brand Stores H&M Ness Clothing M&S Shoon French Connecgon Sainsbury s N Brown Triumph Mothercare Card Factory New Look icandy (icandy Cards and Gims) Joy the Store B&Q Kit and Ace American Eagle HMV Clas Ohlson Debenhams Peter Werth Total: 17 announced store closures FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. deborahweinswig@fung17.com US: 17.. HK: CN:

9 January 1, Major UK Store Openings Greggs M&S Smiggle Aldi The Works Lidl Tapi Carpets Ausgn 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 Birdece White Stuff River Island Schuh Superdry Argos Boden Ben Sherman Total: 87 announced store openings FGRT has calendarized the announcements of store openings/closures, which involves an estimation for some retailers. deborahweinswig@fung17.com US: 17.. HK: CN:

10 January 1, 018 Deborah Weinswig, CPA Managing Director FGRT New York: 17.. Hong Kong: China: Kiril Popov Senior Analyst John Mercer Senior Analyst Esme Pau, CFA Analyst Simic Chan Senior Research Associate Hong Kong: nd Floor, Hong Kong Spinners Industrial Building Phase 1& 800 Cheung Sha Wan Road, Kowloon Hong Kong Tel: London: - Marylebone Road London, NW1 JQ United Kingdom New York: 1 Broadway, 18th Floor New York, NY 18 Tel: 8 17 FGRT.com deborahweinswig@fung17.com US: 17.. HK: CN: