L&T's flagship store to close in 2019

Canada's Hudson's Bay Company (HBC), the parent company of Sask's Fifth Avenue and Lord & Taylor, announced Tuesday (June 5) the closing of 10 Lord & Taylor stores. Among them, the flagship Midtown location at 424-434 Fifth Avenue.

The closure will take place during 2019 as HBC is struggling to compete with online retailers such as Amazon and Walmart. HBC has already agreed to sell its under performing online retailer, the Gilt Groupe, to Boston-based e-commerce operator Rue La La for an undisclosed amount.

HBC, which also owns the Hudson's Bay and Home Outfitters brands, saw a net loss of $308.5 million in the first quarter of 2018, according to media reports.

Video courtesy of WCBS-TV.

L & T's Fifth Avenue flagship store closes after 104 years

Happy New Year everyone. Sorry I was not able to post anything for several months as I was busy with work and other commitments.

Anyway, here is the first post of 2019 and its is a sad one in deed.

After more than a century in business on Fifth Avenue, Lord & Taylor's iconic Fifth Avenue flagship store closed its doors for good on Tuesday, January 2. The flagship store is one of 10 L & T's stores to be close by the retailer's parent company, HBC..

The video below, from the Associated Press, shows the final days of operation at this fame store.

Another video of the store's closing. This one is from massupNY on YouTube.

This is the first time since the early 1990s that a flagship store of great importance closed its doors for good, ending a long historic legacy in New York City. The last time this happened was in 1994 when A & S (aka Abraham & Staus) merged with Macy's.

Another iconic Fifth Avenue store to close in January

Just three months after news that Lord & Taylor is closing its flagship store on Fifth Avenue and 37th Street, another iconic retailer on the Avenue is also shutting its doors.

Henri Bendel, a Fifth Avenue institution for more than a century, selling high-end handbags and accessories, announced Friday it will close down in January 2019.

Video courtesy of WCBS-TV