Brick and mortar store openings and closings in August

Certain things in life are guaranteed: death, taxes…and retail store closures. But it’s part of the circle of life when it comes to physical retail: One store failure is an opportunity for another to thrive.

In fact, it’s projected that 50,000 brick and mortar stores could close between 2030 and 2027, but many others will jump at the chance to lure customers into those spaces. In 2021, the United States gained 11,000 more stores than it lost, but last year, closures outpaced openings by 1,500 as of Q3.

Here’s a quick snapshot of brick and mortar ribbon-cuttings and farewells in August.

Nordstrom

The department store chain closed its San Francisco flagship earlier this week, the next domino to fall in the city’s Union Square shopping district. Nordstrom made the announcement in May and cited declining foot traffic in the area.

• Other retailers that have shut down their operations in the area include Old Navy, Saks Off 5th, and Amazon Go.

Mitchell Gold + Bob Williams

The high-end DC-based furniture store announced it would shut down amid a tough economic climate, particularly among furniture retailers. The company will close all 24 of its locations, which will affect roughly 800 employees.

• Gold, who retired in 2019, told the Washington Post that when he left, “parts of [the company] were in good shape, and parts were not.”

Giant Food

Another DC area staple, Giant Food, recently announced that starting in October, it will shutter home delivery fulfillment centers across the DMV, which will affect about 400 jobs.

• Earlier this summer, the grocery chain threatened to close actual stores due to theft.
• The company has implemented a policy limiting self-checkout transactions to 20 items.

Gucci

The luxury brand’s highly anticipated Dallas boutique opened earlier this week, and at 12,000 square feet, became its largest in Texas and among its top 10 biggest stores in the US. Gucci relocated from a smaller location in the NorthPark Center mall; the new location cost $8 million to build.

• At NorthPark Center, there’s also a new Prada location under construction next to a Louis Vuitton store.

Supreme

On the other side of the globe, Supreme opened its first Asian store outside Japan. The grand opening of the flagship location in Seoul came with much of the spectacle associated with Supreme: scores of fans camped outside waiting, a chance to win exclusive merch, and a showcase of products from Supreme’s latest collection.

• Martino Scabbia Guerrini, EVP and president of EMEA, APAC and emerging brands at VF Corp., Supreme’s parent company, told WWD that the brand hopes to “double its reach” by growing its presence in Asia and Europe