Lord & Taylor to close the 5th Avenue flagship

Publication

10 June 2018 à 12h42

Updated on 10 May 2019 à 17h02

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1 minute

Publication: 10 June 2018 à 12h42, Updated on 10 May 2019 à 17h02

Reading time: 1 minute

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Publication

10 June 2018 à 12h42

Updated on 10 May 2019 à 17h02

Reading time

1 minute

Publication: 10 June 2018 à 12h42, Updated on 10 May 2019 à 17h02

Reading time: 1 minute

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In the quarter to May 2018, the Hudson’s Bay Co. posted like-for like revenue down by 0.7% combined with a net loss of US$308 million, almost twice that of 2017. The group confirmed closure of its iconic Lord & Taylor flagship on Fifth Avenue in Manhattan, sold to WeWork. The department store operator is disposing of weak retail assets and grappling with new rent expenses resulting from monetizing properties, creating new joint ventures and expansion in Europe.

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