HBC to Close Lord & Taylor Fifth Ave. Flagship, Sell Gilt

HBC to Close Lord & Taylor Fifth Ave. Flagship, Sell Gilt

New York--Nearly eight months after announcing it would sell its Lord & Taylor building in New York and scale down the footprint there, Hudson’s Bay Co has now said it will close the store   The company announced Tuesday in its first quarter results that as it continues to balance its brick-and-mortar presence with online channels, it has decided to close its Fifth Avenue flagship in New York City altogether The company originally planned to continue to operate a much smaller space in the building after it sold to co-working space company WeWork in a deal valued at $850 million In its statement, HBC said that, “…exiting this iconic space reflects Lord & Taylor’s increasing focus on its digital opportunity and HBC’s commitment to improving profitability” The company said it expects to close up to 10 Lord & Taylor stores through 2019 It has been struggling with the well-known retailer for some time.

Reuters reported in . Source

Popular products near you

Popular Posts

Curations: Lucky Spring blooms for Van Cleef & Arpels, with new jewellery creations inspired by ...

It has become a yearly tradition for Van Cleef & Arpels to celebrate the season of rebirth by unveil...

read more

Gorgeous Diamond Jewelry For April Birthdays

Do April birthdays have it best? With diamonds as their birthstone, they just might. Our selection o...

read more

White Gold Moissanite Engagement Ring Set MOI-7145S

This interlocking diamond wedding set features a solitaire engagement ring with round moissan...

read more

Chanel encounters a “crush” with reinvented jewelry collection

French fashion house Chanel is looking for love and liberation with its reimagined Toi et Moi ring f...

read more

Subscribe to our Newsletter

Get the best news about jewelry and watch industries, products and services