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Lord & Taylor

Started by amesman, January 11, 2005, 05:52:52 PM

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KyleRF

#180
November 10, 2006, 11:48:42 AM
What's up with Lord and Taylor now?

d_fife

#181
February 12, 2007, 01:06:31 AM
QuoteOriginally posted by KyleRF
What's up with Lord and Taylor now?

I went to the one in the burlington mall 2 days ago and the inside entrance had a new logo. i did not want to take a picture of it due to security.

Zayre88

#182
July 16, 2008, 03:31:14 PM
http://www.bloomberg.com/apps/news?pid=20601082&sid=ahVC2zXvmghU&refer=canada

QuoteNRDC Buys Hudson's Bay, Says Lord & Taylor to Expand

By Kevin Bell

July 16 (Bloomberg) -- NRDC Equity Partners LLC, a U.S.- based buyout firm that owns the Lord & Taylor chain, bought Hudson's Bay Co. to expand in Canada with the country's biggest department-store network.

NRDC will spend $500 million on the Toronto-based department-store chain and convert 10 or 15 of its Bay stores in downtown locations into Lord & Taylor outlets, the firm said today in a statement. Terms of the deal weren't released. [quote\]

retailisking

#183
October 24, 2017, 03:44:13 PM
L&T will drastically reduce its retail footprint in a lucrative deal with office space rental colossus WeWork
https://www.nytimes.com/2017/10/24/business/lord-taylor-wework.html

mixedday

#184
November 15, 2018, 02:58:09 PM Last Edit: November 15, 2018, 03:08:18 PM by mixedday
Back in June, Hudson Bay announced that up to ten Lord & Taylor stores will close:
https://www.usatoday.com/story/money/2018/06/05/hudsons-bay-lord-taylor-stores-nyc-fifth-avenue/672197002/

So far, we know
1. Fifth Avenue (Flagship)
2. Monmouth Mall (Eatontown, NJ)
3. Oakbrook Center Mall (Oakbrook, IL). Actually this was announced in Feb 2018 before the June 2018 announcement, but store will close in Jan 2019.

What other stores (up to 7 more) might get the axe?

Here a few maybe:

The Lakeforest Mall in the Gaithersburg, MD is a pretty weak mall:
https://www.youtube.com/watch?v=pqCGYmbAvCQ
While we are not privy to the Lord & Taylor's success over there, the mall and area as a whole isn't strong, which might indicate under performing sales at the store as well.

I was looking at the Lord & Taylor list, and stores close either at 8pm, 9pm or 9:30pm. I'd assume the 9:30pm closing stores are doing well to warrant the extra half hour of store hours, so these might be safe.

On the other hand, the Bala Cynwyd store in the Philly market closes at 8pm. In the Philly market, it's hard to tell. King of Prussia is the power mall, but maybe, too much upscale competition and if it doesn't own the store there, might make it less safe than say, Moorestown Mall, where it no longer directly competes with macy's.

I also noticed fringe stores - just one in South Florida (Mizner Park Plaza). I get it that a lot of NYers vacation and second home in S. Florida, but it still seems like an outlier. I also wonder if Chicago and Detroit markets are too far away from their Northeast base of stores and it might close a cluster of stores per market.

Any thoughts which stores might be closed?

Here is the current 50 stores, sorted alphabetically:
BALA CYNWYD   Closes at 8:00pm
BRIDGEWATER COMMONS  Closes at 9:00pm
BURLINGTON MALL Closes at 9:00pm
CROSSGATES MALL  Closes at 9:30pm
DANBURY  Closes at 9:00pm
DESTINY USA  Closes at 9:30pm
DULLES TOWN CENTER   Closes at 9:30pm
EAST VIEW MALL Closes at 9:00pm
EASTCHESTER  Closes at 9:00pm
FAIR OAKS MALL  Closes at 9:30pm
FIFTH AVENUE Closes at 9:00pm
FIND @ LORD & TAYLOR  Closes at 8:30pm
FREEHOLD RACEWAY MALL   Closes at 9:30pm
GARDEN CITY   Closes at 9:00pm
GARDEN STATE PLAZA  Closes at 9:30pm
GREAT LAKES CROSSING LORD & TAYLOR OUTLET  Closes at 9:00pm
KING OF PRUSSIA PLAZA  Closes at 9:00pm
LAKE FOREST MALL   Closes at 9:00pm
LAKESIDE MALL  Closes at 9:00pm
LIVINGSTON MALL  Closes at 9:00pm
MANHASSET  Closes at 9:00pm
MIZNER PARK PLAZA   Closes at 9:00pm
MONMOUTH MALL  Closes at 9:00pm
MOORESTOWN MALL  Closes at 9:00pm
NATICK MALL  Closes at 9:00pm
NORTHBROOK COURT Closes at 9:00pm
OAKBROOK CENTER MALL  Closes at 9:00pm
PALISADES CENTER   Closes at 9:30pm
PRUDENTIAL CENTER  Closes at 9:00pm
QUAKERBRIDGE MALL  Closes at 9:00pm
RIDGEHILL  Closes at 9:30pm
ROCKAWAY TOWNSQUARE  Closes at 9:00pm
ROCKINGHAM PARK  Closes at 9:00pm
SOUTH SHORE PLAZA   Closes at 9:00pm
STAMFORD   Closes at 9:00pm
THE FASHION CENTER  Closes at 9:00pm
THE MALL IN COLUMBIA   Closes at 9:00pm
TRUMBULL SHOPPING PARK   Closes at 8:00pm
TWELVE OAKS MALL  Closes at 9:00pm
TYSONS CORNER CENTER   Closes at 9:00pm
WALDEN GALLERIA   Closes at 9:30pm
WALT WHITMAN MALL   Closes at 9:00pm
WASHINGTON/CHEVY CHASE   Closes at 8:00pm
WESTFARMS MALL   Closes at 9:00pm
WESTFIELD   Closes at 9:00pm
WESTFIELD SOUTH SHORE   Closes at 9:00pm
WHITE FLINT   Closes at 8:00pm
WILLOWBROOK MALL  Closes at 9:00pm
WOODBRIDGE CENTER   Closes at 9:30pm
WOODFIELD MALL  Closes at 9:00pm

retailisking

#185
February 27, 2019, 12:49:16 PM Last Edit: February 27, 2019, 12:59:36 PM by retailisking
Lord & Taylor have revealed their latest logo, ditching script altogether. Seems pretty downscale to me.

mixedday

#187
May 09, 2019, 02:31:34 PM
I wonder if Dillards could buy Lord & Taylor or at least a majority of stores. Many that I'm familiar are in good locations (upscale or stronger malls) in the Northeast.

It'd be great if Boscov's could assume some stores, but they likely can't take on too many. Belk, Target, mall owners directly could assume some of the other locations.

retailisking

#188
June 14, 2019, 11:45:56 AM Last Edit: June 14, 2019, 06:34:25 PM by retailisking
In the latest sign that L&T is circling the drain, its CEO is leaving. Nobody seems to be interested in the chain except possibly as a short-term private equity liquidation play.
https://www.retaildive.com/news/lord-taylor-chief-is-out/556896

TRU7536

#189
June 14, 2019, 06:09:49 PM
Quote from: mixedday on May 09, 2019, 02:31:34 PM
I wonder if Dillards could buy Lord & Taylor or at least a majority of stores. Many that I'm familiar are in good locations (upscale or stronger malls) in the Northeast.

It'd be great if Boscov's could assume some stores, but they likely can't take on too many. Belk, Target, mall owners directly could assume some of the other locations.

I don't see Dillard's ever expanding to the Northeast. They're very popular in the Carolina's along with Belk. If anything, I can see Bloomingdales making a push for those LT stores since many are located in upscale malls.

mixedday

#190
June 14, 2019, 10:04:26 PM Last Edit: June 14, 2019, 10:24:23 PM by mixedday
I think one problem (for a sale) with L&T is that it has lackluster locations in its mix. Any buyer will only want the strong sites. It has two Detroit area, and two Chicago area locations, but only one of the two in each market are good locations.

The strong Washington DC sites should be appealing, and maybe the Midwestern sites in the strong malls in Chicago, Detroit and Buffalo if it doesn't want to pursue the Northeast (mainly NYC metro to Boston area). Dillard's gets as far up into Richmond but just short reaching the DC region. The WAS area is a growing/wealthy region as well.

One exception is the Lakeforest Mall but it was announced not too long ago that it is closing:
https://www.bizjournals.com/washington/news/2019/06/05/lord-taylor-to-close-at-lakeforest-mall-lay-off.html

Also mentioned is Lakeside Mall, which is the weaker mall in the Detroit market. It will leave just one Detroit area store and an outlet in that market.

A new mall (Norwalk So No Collection) with bloomingdales and Nordstrom is being built in Connecticut, which will likely siphon traffic from an existing mall with a L&T not too far away in Fairfield County. I'm still surprised macy's hasn't pursued a location in Park City Center, also owned by Brookfield, in Lancaster PA. It's the strongest mall in the Central PA market with an Apple store, and macy's has the choice of either the Sears or the Bon Ton site. There is competition from Boscov's, a lot of stores in the mall, JCPenney and Kohl's and two outlet malls in the Lancaster area though but still rather surprising if too much competition from those would hinder macy's from opening there.

mixedday

#192
November 02, 2019, 02:28:48 PM
A store closing sale is in progress now at its Moorestown NJ location. Moorestown mall lost Macy’s, now Lord and Taylor but Sears managed to outlast. Boscovs will likely be the only traditional department store at the mall in a couple years.

I hope PREIT can get Target one day, maybe after Sears leaves although Target’s Centerton location might be too close. I think a smaller format store might work though complementing the larger store a few miles east.
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