Flagship Lord & Taylor

[csedwards72]

Lord & Taylor on Fifth Avenue is my favorite department store, but having lived through multiple shopping center deaths in my lifetime, I would assume that big changes must be in store for it. Given the building's relatively run-down condition, the chain's relatively lackluster financial performance, its location in a not-so-hot area for retail and its parent's acquisition by Federated Department Stores, something's got to give. I cannot imagine that the store would close, since it's the flagship Lord & Taylor, but if the chain is converted into Macy's or Bloomingdale's, perhaps that could happen. Alternatively, if Lord & Taylor succeeds in becoming more high-end, surely the flagship would be remodeled to capture the ambiance that Saks, Bloomingdale's and Nordstrom have.

If anyone hears of plans to remodel or close the flagship Lord & Taylor, please post the news. Thanks!

[StevenRocks]

Not to alarm you, but I heard Nordstrom made an offer for the Fifth Avenue Lord & Taylor around the time the merger was announced. No proof of this actualy being the case, though.

As far as I know, Lord & Taylor will be a part of the new Federated, but who knows?

[mallguy]

So the flagship L&T could shrink to 300,000 or 400,000 sf?

http://www.nytimes.com/2006/06/23/business/23shop.html

Not good! In a city with a low amount of retail space per capita, surely the flagship store's space can find good use as a retail destination!

And only 48 stores were sold, yet there are 55ish L&T stores now- so several more will close?

[lammius]

So the flagship L&T could shrink to 300,000 or 400,000 sf?

http://www.nytimes.com/2006/06/23/business/23shop.html

Not good! In a city with a low amount of retail space per capita, surely the flagship store's space can find good use as a retail destination!

And only 48 stores were sold, yet there are 55ish L&T stores now- so several more will close?

A story I saw Thursday on CBS 2 led me to believe the flagship store would be closing altogether! Compared to that I take this story of shrinking as good news!

[tombarnes]

I would hate to see the Lord & Taylor name disappear from the American retail landscape. I know that the stores aren't exactly in touch with the current retail market, but I hope the name can be preserved. It would be very sad to see the flagship store go as well.

[StevenRocks]

I can't see Lord & Taylor continuing operations past the next five years or so. It's extremely difficult to run a 50-unit upper-moderate department store chain these days, especially one with a tarnished image and lucrative real estate that could potentially fetch more than leaving the stores open.