Coresight Research tracks store openings and closures for a selected group of retailers in the US and the UK, as well as major US store bankruptcies
• Year to date in 2018, US retailers have announced 5,436 store closures and 2,963 store openings.
• Saks Fifth Avenue announced that it will close its womenswear store in downtown Manhattan.
• Year to date in the UK, companies have announced 1,395 store closures and 785 store openings.
• Laura Ashley will shut 40 stores in the UK.
• Levi’s plans to open its first UK womenswear store.
Coresight Research tracks news about store closures and openings, bankruptcies and management changes. Our Weekly Store Openings and Closures Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture.
2018 Major US Store Closures and Openings
Year to date in 2018, US retailers have announced they will close 5436 stores and open 2963 stores.
What Is Happening in the Week of December 21, 1018 in the US?
Apricot Set to Open Its first Store in the US
British fashion retailer Apricot announced that it will open its first brick-and-mortar store in the US in March next year, in Boston, Massachusetts. The new store will be approximately 4,000 square feet and will be located in Boston’s largest shopping center, Natick Mall.
Saks Fifth Avenue plans to close Its Women’s Store in Downtown Manhattan
American luxury department store chain Saks Fifth Avenue is set to close its women’s store in lower Manhattan on January 5 after roughly two years of operation. Although the company recently reported its strongest comparable sales growth in five years, the 86,000-square-foot women’s store has not been a big enough draw compared with the Fifth Avenue flagship, according to a December 17 company statement.
Year-to-Date 2018 Major US Store Bankruptcies
2017 Major US Store Bankruptcies
2018 Major UK Store Closures and Openings
Year to date in the UK, retailers have announced 1,395 store closures and 785 store openings.
What Is Happening in the week of December 21, 2018 in the UK?
Laura Ashley to Shutter 40 Stores
British fashion and furniture chain Laura Ashley announced that it will close 40 stores as part of its plan to expand its presence in China. The company has already closed around 40 UK stores since 2015. The new round of closures will see the retailer’s store estate scale down from 160 sites to 120. Laura Ashley did not disclose a specific timeline for these closures, so we have not attributed any portion of them to 2018. However, our 2018 figures include a number of Laura Ashley closures that were announced previously.
Levi’s to Open Its First UK Womenswear Store
American fashion label and retailer Levi’s is set to open its first womenswear outlet in the UK, in Kent’s Bluewater shopping centre. The new store will be only the second store of its kind globally; the company opened its first womenswear outlet two years ago in Nice, France. Levi’s did not confirm when the UK store is scheduled to open, so our store openings total for this year remains unaffected by this development.
Ganni Set to Open Its First UK Store, in London
Danish high-end fashion retailer Ganni announced that it will open its first UK store sometime in spring next year. The new store will be located in London’s Soho district, where the retailer has already signed a lease for a 2750-square-foot space at 36 Beak Street.
Natural Selection Opens Flagship Store in London
British menswear brand Natural Selection has opened a flagship store at 49 Berwick Street in London’s Soho area. The store features the retailer’s full range of clothing, including core and seasonal styles. Natural Selection joins a growing list of independent and cult brands that have opened stores in the Soho district.
Blue Inc Collapses into Administration
British menswear retailer Blue Inc has entered administration following failed attempts to find a new owner to rescue the business. Blue Inc launched a company voluntary arrangement less than two years ago. Last month, as it struggled despite having implemented restructuring and cost-cutting measures, the company hired corporate recovery consultancy Begbies Traynor to find a buyer and advise on its future.
2017 Major UK Store Closures and Openings