weekly store openings and closures perfumaniafiles for …€¦ · fgrt tracks store openings and...

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DeborahWeinswig,ManagingDirector,[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.

September1,2017

FGRTtracksstoreopeningsandclosuresforaselectgroupofretailersintheUSand,asoflastweek,intheUKaswell.

1) WeforecastthatannouncedstoreclosuresintheUSwilltotal9,452bytheendof2017,exceedingthe6,164storesclosedin2008,andrepresentingayear-over-yearincreaseof361%.The5,763storeclosuresannouncedyeartodatearetrackingat61%ofourfull-yearforecast.

2) Thisweek,Perfumaniahasfiledforbankruptcy.Itplanstoclose64storesandprivatizethecompanyaspartofitsreorganization.

3) Macy’snamedformereBayexecutiveHalLawtonasPresident,effectiveSeptember8.

4) Ultareaffirmedthatitisontracktoopen100newlocationsin2017.

5) Year-to-date2017,thenumberofstoreclosureannouncementshasincreased181%yearoveryear,bringingthetotalnumberofstorestobeclosedto5,763.

6) Startinglastweek,weaddedcoverageoftheUKmarket.Yeartodate,therehavebeen487storeclosureannouncementsfrommajorretailersintheUK,comparedto529openings,withthenumberofclosuressignificantlyloweronayear-over-yearbasis,andopeningsonparwith2016.

7) Pep&Coclosed20storesandreplacedthemwithconcessions.

Deborah Weinswig

Managing Director

FGRT

[email protected]

US: 917.655.6790

HK: 852.6119.1779

CN: 86.186.1420.3016

Weekly Store Openings and Closures

Tracker #22: Perfumania Files for

Bankruptcy, to Close 64 Stores; Macy’s Names

New President

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September1,2017

2017StoreOpeningsandClosures

WhatIsHappeningthisWeekintheUS?

PerfumaniaFilesforBankruptcyandPlanstoClose64StoresAmericanspecialtyretailerPerfumaniahasfiledforbankruptcy.Itplanstoclose64ofits226storesandprivatizethecompanyaspartofitsreorganization.Accordingtothecompany’sannouncement,itisreducingthenumberofretailstorestobetteralignwithcurrentconsumershoppingpatterns,inordertoincreaseinvestmentsinitse-commercebusiness.

Macy’sAppointsFormereBayExecutiveHalLawtonasPresidentMacy’shasnamedformereBayNorthAmericaSVPHalLawtonasPresident,effectiveSeptember8.Lawtonhasastrongtechnologyande-ecommercebackground.PriortojoiningeBay,heworkedatHomeDepotandMcKinsey&Co.

UltaOnTracktoOpen100Storesin2017Duringitsearningscall,Ultareaffirmedthatitisontracktoopen100newlocationsin2017.Thecompanyalreadyopened20storesinthesecondquarter,bringingthetotalto1,010stores.Managementemphasizedthatcannibalizationofexistingstoresalesislow,whichsuggeststhatcombiningtheonlineexperiencewiththebrick-and-mortarshoppingexperienceisimportant.

EstéeLauderCEODeniestheCompanyisinTalksforaPotentialSaleorMergerPresidentandCEOFabrizioFredasaidthatEstéeLauderCompaniesisnotforsale,accordingtoaBloombergarticle,reiteratingthatthecompanyisstrongandhasexcellentmomentumgoingforward.

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September1,2017

Year-to-Date 2017 Major US Store Closure Announcements

Gymboreeannounceditwouldbeclosing350–450stores.RalphLauren’sstoreclosingnumberwaspartofthe50-storeclosureplanannouncedinJune2016.Ascenawillclosebetween268and667storesbyJuly2019,dependingonnegotiationswithlandlords.Source:Companyreports/FGRT

23

27

32

36

40

44

50

60

61

64

68

70

70

70

100

100

101

110

120

138

160

171

180

190

220

250

350

358

400

400

700

1000

0 200 400 600 800 1000 1200

RalphLauren

TrueReligion

GanderMountain

EasternOufigers

lululemonathlehca

LucyAchvewear

Chico’s

Guess

AlfredAngelo

Perfumania

MCSports

Aaron’s

CVS

Staples

Macy’s

MichaelKors

GordmansStoresInc.

AmericanApparel

BCBG

JCPenney

CrocsInc.

WetSeal

BebeStoresInc

GameStop

hhgregg

TheLimited

Gymboree

SearsandKmart

AscenaRetail

Rue21

PaylessInc

RadioShack

Total: 5,763 announced store closures

181% year over year

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September1,2017

Year-to-Date 2017 Major US Store Opening Announcements

Aldiwillcompletea400-storeexpansionbytheendof2018.Walmart’stargetof59storesincludesnew,expandedandrelocatedstores.Targetisonlyopeningstoresinsmallformat.Macy’sBackstagewillbeopenedwithinexistingfull-lineMacy’sstores.Rodd&Gunntoopen8–10storesbytheendof2018.Mackageplanstooperate25storesacrossNorthAmericainthenextfiveyears.Source:Companyreports/FGRT

3

4

5

5

5

7

9

10

17

19

20

24

30

52

59

60

60

70

90

100

100

100

111

400

650

1,290

0 200 400 600 800 1,000 1,200 1,400

Fendi

Kohl’s

Mackage

Homesense

ThredUP

Abercrombie&Fitch

Rodd&Gunn

Forever21(RileyRose)

Nordstrom

Macy’sBackstage

Bonobos

Costco

Target

Dick’sSporhngGoods,Inc.

Walmart

HobbyLobby

H&M

Sephora

RossStores

Lidl

Ulta

FiveBelow

TJX

Aldi

DollarTree

DollarGeneral

Total: 3,300 announced store openings

54% year over year

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September1,2017

2016MajorUSStoreOpeningsandClosures

2016 Major US Store Closures

Source:Companyreports/FGRT

2016 Major US Store Openings

Source:Companyreports/FGRT

91818263434

485051

6771

123154154

233243255

463

0 50 100 150 200 250 300 350 400 450 500

JCPenneyFinishLine

Kohl’sAmericanEagle

TheChildren’sPlaceChico’sFAS

StaplesRalphLauren

WolverineWorldWideWalgreens

GapOfficeDepot

WalmartAeropostale

Men’sWarehouse/JosA.BankSearsandKmartHancockFabricsSportsAuthority

10

15

19

19

45

53

72

79

93

104

146

584

900

0 100 200 300 400 500 600 700 800 900 1,000

Zara

Target

UnderArmour

Costco

Aldi

H&M

Sephora

Dick’sSporhngGoods

RossStores

Ulta

TJX

DollarTree

DollarGeneral


Total: 2,139 announced store openings

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September1,2017

WhatIsHappeningthisWeekintheUK? Asoflastweek,wehaveexpandedourcoverageofstoreopeningsandclosurestoincludetheUKmarket.

Pep&CoClosed20StoresandReplacedthemwithConsessionsFashionretailerPep&Coclosed20stores,oraboutone-thirdofitsstandalonestores,andreplacedthemwithconcessions.AccordingtotheChiefExecutiveAdrianMountford,store-in-storeshavebeendrivingincrementalrevenuegrowth.Thecompanywillopen50shop-in-shopsbyOctober,andisontracktoopenatotalof100concessionsinPoundlandoutletsthisyear.

Year-to-Date 2017 Major UK Store Closure Announcements*

*Thechartonlyshowsselectedretailers.Source:Companyreports/FGRT

2

2

2

2

2

3

3

3

4

4

4

4

5

5

5

6

6

10

17

17

20

20

34

36

40

45

60

122

0 20 40 60 80 100 120 140

Argos

Debenhams

ClasOhlson

HMV

Sainsbury’s

AmericanEagle

KitandAce

B&Q

JoytheStore

iCandy(iCandyCardsandGips)

NewLook

CardFactory

Mothercare

Triumph

NBrown

ShoeZone

FrenchConnechon

NessClothing

StyleGroupBrandStores

BlueInc

Jaeger

Pep&Co

Budgens

LinensDirect

JonesBootmaker

DixonsCarphone

99pStores

StoreTwentyOne

Total: 487 announced store closures

52% year over year

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September1,2017

Year-to-Date 2017 Major UK Store Opening Announcements*

*Thechartonlyshowsselectedretailers.FGRThascalendarizedtheannouncementsofstoreopenings/closures,whichinvolvesestimationforsomeretailers.Aldiwillcompletea300-storeexpansionby2022.Smigglewillopen200storesby2019.Lidlwillopen50–60storesbytheendof2017.PetsatHomewillopenfivestoresinFY2017and10storesinFY2018.Source:Companyreports/FGRT

2

2

5

6

7

7

9

9

9

15

17

25

25

34

50

51

55

60

60

67

0 10 20 30 40 50 60 70 80

BenSherman

Boden

Schuh

WhiteStuff

HoneyBirdege

PetsatHome

B&M

Waitrose

Dukla

SportsDirect

TheFragranceStore

Iceland

House

M&S

AushnReed

TapiCarpets

Lidl

TheWorks

Aldi

Smiggle

Total: 529 announced store openings

2% year over year

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September1,2017

2016MajorUKStoreOpeningsandClosures

2016 Major UK Store Closures*


2

2

2

3

3

5

5

7

7

8

8

8

8

9

9

10

10

12

12

13

16

19

19

24

28

30

32

47

58

58

77

89

90

120

164

0 20 40 60 80 100 120 140 160 180

FurnitureBarn

OliverBonas

Waitrose

McEwansofPerth

IcelandFoods

BenSherman

Game

ClasOhlson

Morrisons

BananaRepublic

FrenchConnechon

Sainsbury’s

Next

WHSmith

LauraAshley

Argos

NewLook

AmericanApparel

M&S

JDSports

NegoStores

Mothercare

ShoeZone

BegaLiving

Monsoon/Accessorize

Sky

B&Q

CardFactory

Brantano

Tesco

StoreTwentyOne

DixonsCarphone

MyLocal

AushnReed

BHS


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September1,2017

2016 Major UK Store Openings*


22222333445

7777

991010101112

151920

2324

303233

4247

5059

0 10 20 30 40 50 60 70

ArgosTedBaker

ZaraMassimoDurLauraAshley

GameWhiteStuff

FatFaceHabitat

FoodWarehousebyIcelandTheWhiteCompany

PrimarkDreams

SuperdrugTiger

OliverBonasNext

WHSmithJackWills

M&CoWaitrose

WhiteStuffPep&CoJDSportsNewLookSmiggleTKMaxx

LidlWHSmith

B&MTesco

Sainsbury’sCardFactoryPhaseEight

Total: 538 announced store openings

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September1,2017

DeborahWeinswig,CPAManagingDirectorFGRTNewYork:917.655.6790HongKong:852.6119.1779China:86.186.1420.3016deborahweinswig@fung1937.comKirilPopovSeniorAnalyst

JohnMercerSeniorAnalyst

EsmePauAnalyst

SimicChanSeniorResearchAssociate

EvaK.SeniorResearchAssociate

HongKong:2ndFloor,HongKongSpinnersIndustrialBuildingPhase1&2800CheungShaWanRoad,KowloonHongKongTel:85223004406London:242-246MaryleboneRoadLondon,NW16JQUnitedKingdomTel:44(0)2076168988NewYork:1359Broadway,18thFloorNewYork,NY10018Tel:6468397017FungGlobalRetailTech.com

weekly store openings and closures perfumaniafiles for …€¦ · fgrt tracks store openings and...

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