openings and closures tracker #30: walgreens to close … · our weekly store openings and closures...
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
Weekly Store Openings and
Closures Tracker #30: Walgreens to Close 600 Stores; Lloyds Pharmacy to Close
190 Stores
FGRTtracksstoreopeningsandclosuresforaselectgroupofretailersintheUSandtheUK.
1) Year-to-date2017,thenumberofstoreclosureannouncementsintheUShasincreased203%yearoveryear,bringingthetotalnumberofstorestobeclosedto6,121.
2) Walgreensplanstoclosearound600RiteAidstores,startingnextspring.
3) Hudson’sBayCompanyannouncedthatitsCEOwillstepdowneffectiveNovember1.ThecompanyhassolditsLord&TaylorflagshipFifthAvenuestoretoWeWork.
4) Toys“R”Ushasreceivedcourtapprovalfor$3.1billionofnewfinancing.
5) YeartodateintheUK,therehavebeen854storeclosureannouncementsfrommajorretailers,significantlyloweronayear-over-yearbasis.The750storeopenings,however,areaslightincreasecomparedto2016.
6) LloydsPharmacyannounceditwillclose190stores.
Deborah Weinswig
Managing Director
FGRT
deborahweinswig@fung1937.com
US: 917.655.6790
HK: 852.6119.1779
CN: 86.186.1420.3016
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
2017MajorUSStoreOpeningsandClosuresFGRThasadedicatedteamtrackingnewsaboutstoreclosuresandopenings,bankruptciesandmanagementchanges.OurWeeklyStoreOpeningsandClosuresTrackerfocusesondepartmentstoresandspecialtyretail,including,butnotlimitedto,softlines,hardlines,consumerelectronicsandfurniture.
WhatIsHappeningthisWeekintheUS? WalgreenstoCloseAround600RiteAidStores,StartingNextSpringWalgreensBootsAlliance(WBA)planstocloseabout600drugstores,asitcompletesitsacquisitionofRiteAidstores,accordingtoacompanyspokesperson.ThestoressettobeclosedwerechosenduetooverlapwithanotherRiteAidorWalgreenslocation.Wehavenotincludedthis600-storenumberintoourestimatefortotalstoreclosuresannouncementsfor2017,sincetheclosingswillnottakeplaceuntilnextspringandwillbecompletedoveran18-monthperiod.
Non-StoreClosureNewsHudson’sBayCompanyCEOStepsDownHudson’sBayCompany(HBC)announcedthatJerryStorchwillstepdownasCEO,effectiveNovember1,2017.RichardBaker,GovernorandExecutiveChairmanofHBC,willtakeovertheroleuntilapermanentreplacementisfound.
Hudson'sBayCompanySellsLord&TaylorFifthAvenueFlagshipBuildingtoWeWorkHudson’sBayCompany(HBC)hasenteredintoastrategicpartnershipwithoffice-sharingcompanyWeWork.HBCwillsellitsNewYorkCityflagshipLord&TaylorstoretoWeWorkPropertyAdvisorsinatransactionvaluedat$850million.TheLord&TaylorstoreistobeconvertedintoWeWork’sNewYorkheadquarters,WeWorkofficespaceandaredesignedsmallerLord&Taylorstoreofapproximately150,000squarefeet.Seeourrecentreport:Hudson’sBayCompanyandWeWorkRedefinetheTraditionalDepartmentStore
Toys“R”UsReceivesCourtApprovalfor$3.1BillionofNewFinancingToys“R”UsannouncedthattheUSBankruptcyCourthadenteredafinalordergrantingthecompany$3.1billionindebtor-in-possessionfinancing.Thefinancingismeanttokeepthecompanystockedandoperatingasnormalthroughtheupcomingholidayseasonandbeyond.
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
Year-to-Date 2017 Major US Store Closure Announcements
TheChildren’sPlacewillclose300storesby2020.RalphLauren’sstoreclosingnumberwaspartofthe50-storeclosureplanannouncedinJune2016.Ascenawillclosebetween268and667storesbyJuly2019,dependingonnegotiationswithlandlords.Gapwillclose200storesby2020.UrbanOutfittersplanstocloseeighttoninestoresin2017.VitaminWorldwillcloseatleast50stores.Source:Companyreports/FGRT
36681019232731323640445050606165687070707074100100100101110120138160171180190
220250
330358
400400
7001000
0 200 400 600 800 1000 1200
H&MPirch
RothmanFurnitureUrbanOugihersNeimanMarcus
WalmartRalphLaurenTrueReligion
Benny’sGanderMountainEasternOugihers
lululemonathleicaLucyAcivewear
Chico’sVitaminWorld
GuessAlfredAngeloPerfumaniaMCSports
Aaron’sCVS
StaplesGap
AerosolesTheChildren’sPlace
Macy’sMichaelKors
GordmansStoresInc.AmericanApparel
BCBGJCPenneyCrocsInc.WetSeal
BebeStoresIncGameStophhgregg
TheLimitedGymboree
SearsandKmartAscenaRetail
rue21PaylessIncRadioShack
Total: 6,121 announced store closures
203% year over year
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
Year-to-Date 2017 Major US Store Opening Announcements
Aldiwillcompletea400-storeexpansionbytheendof2018.Targetisonlyopeningstoresinsmallformat.Macy’sBackstagewillbeopenedwithinexistingfull-lineMacy’sstores.Rodd&Gunntoopen8–10storesbytheendof2018.Mackageplanstooperate25storesacrossNorthAmericainthenextfiveyears.Gapwillopen270storesby2020.Costcohasopened26storesnetforthefiscalyearendedSeptember2017,andplanstoopen25storesnetforfiscalyear2018.Source:Companyreports/FGRT
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5
5
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9
10
17
19
20
24
32
43
46
60
60
70
89
90
100
100
100
100
111
400
650
0 100 200 300 400 500 600 700
Vimmia
Fendi
Kohl’s
Mackage
Homesense
ThredUP
Abercrombie&Fitch
Rodd&Gunn
Forever21(RileyRose)
Nordstrom
Macy’sBackstage
Bonobos
Costco
Target
Dick’sSporingGoods,Inc.
H&M
HobbyLobby
H&M
Sephora
Walmart
Gap
RossStores
Lidl
Ulta
FiveBelow
TJX
Aldi
DollarTree
Total: 3,470 announced store openings
54% year over year
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
2016MajorUSStoreOpeningsandClosures
2016 Major US Store Closures
Source:Companyreports/FGRT
2016 Major US Store Openings
Source:Companyreports/FGRT
91718182634
485051
6771
123142
154233243
255463
0 50 100 150 200 250 300 350 400 450 500
JCPenneyWalmart
FinishLineKohl’s
AmericanEagleChico’sFAS
StaplesRalphLauren
WolverineWorldWideWalgreens
GapOfficeDepot
TheChildren’sPlaceAeropostale
Men’sWarehouse/JosA.BankSearsandKmartHancockFabricsSportsAuthority
10
15
19
19
45
53
72
79
93
104
119
146
584
900
0 100 200 300 400 500 600 700 800 900 1,000
Zara
Target
UnderArmour
Costco
Aldi
H&M
Sephora
Dick’sSporingGoods
RossStores
Ulta
Walmart
TJX
DollarTree
DollarGeneral
Total: 2,022 announced store closures
Total: 2,258 announced store openings
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
2017MajorUKStoreOpeningsandClosures
LloydsPharmacytoClose190StoresLloydsPharmacyannounceditwillclose190storesacrossEnglandbecauseofgovernmentcuts,businessratesandtheapprenticeshiplevy.Theretailerhasyettoannounceapossibletimelinefortheclosures.
Year-to-Date 2017 Major UK Store Closure Announcements*
*Thechartonlyshowsselectedretailers.Greggsexpectstoclose40–50storesbytheendof2017.Source:Companyreports/FGRT
22222233344445556101217172020
2828
3436404545
6069
122190
0 20 40 60 80 100 120 140 160 180 200
PeterWerthArgos
DebenhamsClasOhlson
HMVSainsbury’s
AmericanEagleKitandAce
B&QJoytheStore
iCandy(iCandyCardsandGiqs)NewLook
CardFactoryMothercare
TriumphNBrown
FrenchConnecionNessClothing
H&MStyleGroupBrandStores
BlueIncJaeger
Pep&CoBrightHouse
NextBudgens
LinensDirectJonesBootmakerDixonsCarphone
Greggs99pStoresBrantano
StoreTwentyOneLloydsPharmacy
Total: 854 announced store closures
16% year over year
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
Year-to-Date 2017 Major UK Store Opening Announcements*
*Thechartonlyshowsselectedretailers.FGRThascalendarizedtheannouncementsofstoreopenings/closures,whichinvolvesanestimationforsomeretailers.Aldiwillcompletea300-storeexpansionby2022.Smigglewillopen200storesby2019.Lidlwillopen50–60storesbytheendof2017.PetsatHomewillopenfivestoresinfiscalyear2017and10storesinfiscalyear2018.M&Cowillopen60–75storesby2022.PrimarkisestimatedtoopenninestoresintheUKin2017and11forthefiscalyearendedSeptember2017.Greggsexpectstoopen140–150storesbytheendof2017.Footasylumplanstoopen8–10newstoresayear.Source:Companyreports/FGRT
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2
5
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9
9
9
9
9
9
10
14
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20
25
25
34
50
51
55
60
60
67
145
0 20 40 60 80 100 120 140 160
BenSherman
Boden
Schuh
RiverIsland
WhiteStuff
HoneyBirdehe
PetsatHome
B&M
Waitrose
Dukla
Primark
H&M
Footasylum
ShoeZone
M&Co
SportsDirect
TheFragranceStore
Next
Iceland
House
M&S
AusinReed
TapiCarpets
Lidl
TheWorks
Aldi
Smiggle
Greggs
Total: 750 announced store openings
38% year over year
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
2016MajorUKStoreOpeningsandClosures
2016 Major UK Store Closures*
*Thechartonlyshowsselectedretailers.Source:Companyreports/FGRT
2223355778888991010121213161919
24283032
4758
6577
8990
120164
0 20 40 60 80 100 120 140 160 180
FurnitureBarnOliverBonas
WaitroseMcEwansofPerth
IcelandFoodsBenSherman
GameClasOhlsonMorrisons
BananaRepublicFrenchConnecion
Sainsbury’sNext
WHSmithLauraAshley
ArgosNewLook
AmericanApparelM&S
JDSportsNehoStoresMothercareShoeZone
BehaLivingMonsoon/Accessorize
SkyB&Q
CardFactoryTesco
BrantanoStoreTwentyOneDixonsCarphone
MyLocalAusinReed
BHS
Total: 1,021 announced store closures
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
2016 Major UK Store Openings*
*Thechartonlyshowsselectedretailers.Source:Companyreports/FGRT
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2
2
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3
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15
19
20
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24
30
32
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42
47
50
59
0 10 20 30 40 50 60 70
Argos
TedBaker
Zara
MassimoDut
LauraAshley
Game
WhiteStuff
FatFace
Habitat
FoodWarehousebyIceland
ScS
TheWhiteCompany
Primark
Dreams
Superdrug
Tiger
OliverBonas
Next
WHSmith
JackWills
M&Co
Waitrose
WhiteStuff
Pep&Co
JDSports
NewLook
Smiggle
TKMaxx
Lidl
WHSmith
B&M
Tesco
Sainsbury’s
CardFactory
PhaseEight
Total: 542 announced store openings
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DeborahWeinswig,ManagingDirector,FGRTdeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
October27,2017
DeborahWeinswig,CPAManagingDirectorFGRTNewYork:917.655.6790HongKong:852.6119.1779China:86.186.1420.3016deborahweinswig@fung1937.comKirilPopovSeniorAnalyst
JohnMercerSeniorAnalyst
EsmePau,CFAAnalyst
SimicChanSeniorResearchAssociate
EvaKubickaSeniorResearchAssociate
HongKong:2ndFloor,HongKongSpinnersIndustrialBuildingPhase1&2800CheungShaWanRoad,KowloonHongKongTel:85223004406London:242-246MaryleboneRoadLondon,NW16JQUnitedKingdomTel:44(0)2076168988NewYork:1359Broadway,18thFloorNewYork,NY10018Tel:6468397017FungGlobalRetailTech.com
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