{"id":111,"date":"2018-06-07T11:21:37","date_gmt":"2018-06-07T11:21:37","guid":{"rendered":"https:\/\/multi.nycnewsnetwork.com\/nycbusinessdaily\/?p=111"},"modified":"2018-06-07T11:21:37","modified_gmt":"2018-06-07T11:21:37","slug":"lord-taylor-closing-its-new-york-city-flagship-store-on-fifth-ave","status":"publish","type":"post","link":"https:\/\/nycnewsnetwork.com\/nycbusinessdaily\/lord-taylor-closing-its-new-york-city-flagship-store-on-fifth-ave\/","title":{"rendered":"Lord &#038; Taylor Closing Its New York City Flagship Store on Fifth Ave"},"content":{"rendered":"<p><b>Hudson\u2019s Bay Company<\/b>, the Canadian parent company of department store\u00a0<b>Lord &amp; Taylor<\/b>, has announced plans to shutter 10 of its 48 Lord &amp; Taylor nationwide locations, including the company\u2019s century-old flagship store at\u00a0<b>424 Fifth Avenue<\/b>.<\/p>\n<p>The decision to close the famed location comes just eight months after Hudson\u2019s Bay announced the\u00a0<a href=\"https:\/\/commercialobserver.com\/2017\/10\/wework-led-jv-snagging-lord-taylor-flagship-building-for-850m\/\">$850 million<\/a>\u00a0sale of the building to a partnership of\u00a0<b>WeWork<\/b>\u00a0and\u00a0<b>Rh\u00f4ne Capital<\/b>,\u00a0as Commercial Observer reported last October.<\/p>\n<p>The 10 closures, which will occur through 2019, are part of a plan for Lord &amp; Taylor to focus on its digital strategy over bricks and mortar. The closures, Hudson\u2019s Bay indicated in its earnings report today, will reduce costs and grow profits.<\/p>\n<p><b>Helena Foulkes<\/b>, Hudson\u2019s Bay CEO since Feb. 19, said as the company is \u201cdedicated to evolving our experience and merchandise assortment to best meet customer expectations and shopping preferences, we will take advantage of having a smaller footprint to rethink the model and focus on our digital opportunities.\u201d<\/p>\n<p><em>Read More on <a href=\"https:\/\/commercialobserver.com\/2018\/06\/lord-taylor-closing-famed-fifth-avenue-flagship\/\">Commercial Observer<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hudson\u2019s Bay Company, the Canadian parent company of department store\u00a0Lord &amp; Taylor, has announced plans to shutter 10 of its 48 Lord &amp; Taylor nationwide locations, including the company\u2019s century-old flagship store at\u00a0424 Fifth Avenue. The decision to close the famed location comes just eight months after Hudson\u2019s Bay announced the\u00a0$850 million\u00a0sale of the building [&hellip;]<\/p>\n","protected":false},"author":5777,"featured_media":112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[13,7],"tags":[],"class_list":["post-111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","category-retail-news-nyc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lord &amp; Taylor Closing Its New York City Flagship Store on Fifth Ave - NYC Business Daily<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nycnewsnetwork.com\/nycbusinessdaily\/lord-taylor-closing-its-new-york-city-flagship-store-on-fifth-ave\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lord &amp; Taylor Closing Its New York City Flagship Store on Fifth Ave\" \/>\n<meta property=\"og:description\" content=\"Hudson\u2019s Bay Company, the Canadian parent company of department store\u00a0Lord &amp; Taylor, has announced plans to shutter 10 of its 48 Lord &amp; Taylor nationwide locations, including the company\u2019s century-old flagship store at\u00a0424 Fifth Avenue. 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