Weekly Store Openings and Closures Tracker 2018 #10: Foot Locker to Close 110 Stores, Open 40 this Year
KEY POINTS
Coresight Research tracks store openings and closures for a select group of retailers in the US and the UK.
- Year-to-date 2018, the number of US store closure announcements stands at 2,160 and the number of store openings is 1,588.
- Foot Locker to close 100 stores and open 40 during 2018.
- Albertsons Companies appoints Jim Donald as President and COO.
- VF Corporation names Velia Carboni as its first Chief Digital Officer.
- Year to date in the UK, there have been 76 store closure announcements and 491 store opening announcements.
Coresight Research 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.
2018 Major US Store Openings and Closures
Year-to-date 2018, the number of US store closure announcements stands at 2,160 and the number of store openings is 1,588.
What Is Happening this Week in the US?
Foot Locker Plans to Close Around 110 Stores and Open 40 this Year
Foot Locker plans to close approximately 110 stores this year. “The disruption that has characterized the retail industry recently is not going away,” said company CEO Richard Johnson. “Consumers want experiences, they want cool products and they want it all—fast.” Foot Locker was working to reduce its exposure to “deteriorating” malls, as the retailer worked to rebuild its business and win back customers. On the other hand, the retailer plans to open around 40 new stores this year as it prunes the fleet of underproductive stores.
Non-Store-Closure News
Jim Donald Appointed President and COO of Albertsons Companies
Albertsons Companies has appointed Jim Donald, former President and CEO of Starbucks, as President and COO of Albertsons Companies, effective immediately. Donald is an experienced retail operator with extensive knowledge of Albertsons Companies, having previously held senior leadership roles at both Albertson’s and Safeway. He also served as a member of the Board of Directors of Rite Aid from 2008 to 2013.
VF Corp Names Velia Carboni as Its First Chief Digital Officer
VF Corporation, whose brands include The North Face and Timberland, has appointed Velia Carboni to the newly created position of Chief Digital Officer. She will report to VF Chairman, President and CEO, Steve Rendle. Carboni joins VF following a 25-plus year career at Fidelity Investments. She most recently served as Senior VP, Mobile and Emerging Platforms for Fidelity’s personal investing/retail division.
“The global retail landscape is evolving at an accelerated pace, driven by the rise of digital technology,” said Rendle. “Velia will lead our digital strategy in a way that fuels growth and enables our brands to build and foster unrivaled connections with consumers worldwide. With more than two decades of experience in digital, emerging technology and consumer analytics, she is the ideal person to lead this important work for VF.”
2017 Major US Store Openings and Closures
2018 Major UK Store Openings and Closures
Year to date in the UK, there have been 76 store closure announcements and 491 store opening announcements.
