Hudson’s Bay to Close 10 Lord & Taylor Stores As Losses Grow

| Daniela Forte

Hudson’s Bay Company said it plans to close up to 10 Lord & Taylor stores over the next year, including its New York City flagship on Fifth Avenue, to focus on its digital presence. Overall Hudson’s Bay reported a double-digit gain in online sales but a larger overall net loss in the first quarter.

Rue La La to Acquire Gilt Groupe

| Daniela Forte

Rue La La is acquiring Gilt Groupe from Hudson’s Bay Company, which itself just purchased it in 2016 for $250 million, in a preservation merger of the two largest flash sale sites. Terms were not disclosed.

Neiman Marcus Pulls Itself Off the Market

| Daniela Forte

Neiman Marcus announced it would no longer be up for sale as it looks for other “strategic alternatives” to stay afloat in this ever-changing retail climate. See what lead the company to make this decision and what other plans it has going forward.