So far brick-and-mortar is holding its own this year.
While fashion-related retailers have continued to close some stores this year, they are also opening doors as well. So far 3,299 stores are set to close this year, with 2,846 doors slated to open. That nets out to only 453 net store closings — not too bad for a sector that last year was overindexed toward the graveyard due to major bankruptcies and liquidations. In 2017, nearly 7,000 store closures were announced, and slightly more than 5,000 doors were actually shuttered.
The 2,846 doors scheduled to open this year account for just the softline retailers, those in apparel, accessories and beauty. Add in other retail categories and the total number of doors that will open suggests a healthier retail outlook.
Related Articles
For example, German grocery chain Aldi plans to have 2,500 stores in the U.S. by 2022. So far 30 are slated to open this year and, in partnership with Kohl’s Corp., it will also open between five to 10 locations inside a Kohl’s store. That leased-space model is one that’s now being used by Macy’s and Sears. Another German grocer chain, Lidl — both Aldi and Lidl are competitors in the low-cost grocery sector — plans to open 20 doors this year in the U.S. And crafts chain Hobby Lobby, which opened 51 net new stores last year, excluding new store relocations, has plans to open 60 new doors this year.
You May Also Like
According to a report from Coresight Research in January, the decline in retail doors in 2017 was driven by apparel retailers and regional malls, which traditionally are more skewed toward apparel. In contrast, open-air shopping centers are benefiting from the growth of off-price, dollar and grocery stores. And the report noted that super regional malls — traditionally leisure and retail destinations — registered solid occupancy rates throughout 2017. Further, major shopping center owners are now changing their retail mix, decreasing the number of apparel doors and either favoring grocery and other general merchandise stores or incorporating leisure and entertainment venues.
Below are the retailers who have said this year they are opening new doors.
Nordstrom
Number: 14
Disclosed: July 12
Backdrop: The first New York store and men’s site was opened in Manhattan in January, to be followed by a women’s store in fall 2019. At least four Nordstrom Rack stores are slated for this year in the U.S. Four more Rack sites are slated for 2019, along with a Nordstrom store set to open in Norwalk, Conn. In addition, the company this year is introducing its Nordstrom Rack concept to Canada, and plans to open three stores — two in Ontario in Mississauga and Ottawa, and one in Edmonton.
J.C. Penney Co. Inc.
Number: 1
Disclosed: July 10
Backdrop: The retailer said it will open its second Brooklyn, N.Y., store at the Kings Plaza mall. The company opened its first Brooklyn store in 2014 at the Gateway Center.
Abercrombie & Fitch Co.
Number: 21
Disclosed: June 1
Backdrop: The plan is for five Abercrombie & Fitch prototype stores; three new Abercrombie kids’ stores and 13 Hollister sites. The new stores will focus on its smaller footprint prototypes.
Christopher & Banks
Number: 6
Disclosed: June 1
Backdrop: The company opened two outlet doors and one store during the first and second quarters. The quarterly filing with the Securities and Exchange Commission noted the company was also planning three stores during the remainder of fiscal 2018.
American Eagle Outfitters Inc.
Number: At least 50
Disclosed: May 31
Backdrop: The company earlier this year said it planned to open 15 to 20 American Eagle stores, and at its first-quarter conference call said it is on track to open 35 to 40 Aerie stores.
Dollar General Corp.
Number: 900
Disclosed: May 31
Backdrop: The company already operates 14,761 stores across 44 states.
Burlington Stores Inc.
Number: 35-40
Disclosed: May 31
Backdrop: The off-pricer opened 18 net new stores in the first quarter and is on track to open four more in the second quarter.
Dick’s Sporting Goods
Number: 19
Disclosed: May 30
Backdrop: The company had already opened eight stores by the end of the first quarter on May 5.
Tilly’s Inc.
Number: 12
Disclosed: May 30
Backdrop: The company opened one store in the first quarter, and expects to open 11 more for the balance of 2018. The company also opened three RSQ pop-ups in the first quarter.
Ross Stores
Number: 30
Disclosed: May 24
Backdrop: The company will open 22 stores under the Ross nameplate and eight DD’s Discounts locations, all in the second quarter.
Stage Stores Inc.
Number: 1
Disclosed: May 24
Backdrop: The company said it plans to open one store under the Gordmans nameplate during fiscal 2018.
Urban Outfitters Inc.
Number: 4
Disclosed: May 23
Backdrop: The company opened two Free People stores and two Urban Outfitters locations.
TJX Cos. Inc.
Number: 238
Disclosed: May 22
Backdrop: The number of new stores planned for fiscal 2018, globally, include 65 T.J. Maxx and Marshalls stores; 85 HomeGoods and 15 Homesense stores and eight Sierra Trading Post stores in the U.S. At TJX International, the company is opening 30 stores in Canada, 30 in Europe and five in Australia.
Bluemercury
Number: 55
Disclosed: May 17
Backdrop: Macy’s Inc.’s chief executive officer Jeff Gennette made the disclosure when the retailer reported first-quarter earnings. Macy’s, which acquired the beauty brand in 2015 for $210 million, plans to open 25 stores this year and an additional 30 sites next year.
John Hardy
Number: 2
Disclosed: May 10
Backdrop: Since L Catterton took at stake in the company in 2014, the focus has been on repositioning the brand and developing its direct-to-consumer business. It is now turning its attention to building its store base, with a target plan of opening 12 to 15 stores domestically in A+ locations over the next two years.
Kate Spade
Number: 9
Disclosed: May 1
Backdrop: The company also closed 11 stores this year. Tapestry, its parent, said it expects to open 20 to 25 net new locations globally in 2018.
Old Navy
Number: 60
Disclosed: April 24
Backdrop: The store openings are part of Gap Inc.’s September 2017 disclosure of its “balanced growth strategy” over the next three years to add “70 net new stores, by introducing 270 new Old Navy, Athleta, Gap Factory and Banana Republic Factory stores,” while the parent company continues its optimization of its Gap and Banana Republic store footprint.
Rebag
Number: 1
Disclosed: April 2018
Backdrop: The store, at the corner of 57th Street and Madison Avenue, is the second Manhattan location for the Rebag. It opened its first store at 390 West Broadway initially as a pop-up site in November to introduce consumers to the brand, and then elected to make it a permanent location.
Five Below Inc.
Number: 125
Disclosed: March 21
Backdrop: The company said new stores remain its most significant growth opportunity, and so far the retailer had opened 42 stores by May 5, the end of its first quarter for fiscal 2018.
Ulta Beauty Inc.
Number: 100
Disclosure: March 15
Backdrop: The company store productivity was high at the new stores, with the new format evolving to include an “experiential environment.” At the end of the first quarter on May 5, the company had already opened 34 new stores.
Dollar Tree Inc.
Number: 650
Disclosed: March 7
Backdrop: The company’s plan is to open 350 Dollar Tree stores and 300 under the Family Dollar nameplate. For the first quarter ended May 5, the company had opened 68 Dollar Tree locations and 62 Family Dollar stores.
Costco Corp.
Number: 23
Disclosure: March 7
Backdrop: The company plans to open 15 new stores during its fourth quarter, which ends on Sept. 2, and a total of 23 overall for 2018.
Target Corp.
Number: 60 small format stores in urban areas
Disclosure: March 6
Backdrop: Brian Cornell, chairman and chief executive officer, said during the company’s Investor Day presentation that it would open 30 small format stores in urban areas this year, and 30 more in 2019.
Foot Locker
Number: 40 stores
Disclosed: March 5
Backdrop: The company is opening fewer stores this year, compared with the 97 opened in 2017.
Hennes & Mauritz AB
Number: 390
Disclosed: Jan. 30
Backdrop: The company said it plans to open 390 new stores this year. Most of the new shops will be under its core H&M banner, while other stores will be under the banners Cos, Monki and Afound, the new concept that focused on marked-down apparel and goods from within H&M brands and other third-party vendors.