In a sign of the times in traditional retail, Lord & Taylor is beginning to shut down its iconic flagship store on Fifth Avenue in New York City with a closing sale this week. Here is what it plans to do as it moves through the closing process.
Sears Holdings Inc. announced it plans to close 46 more stores as part of ongoing efforts to streamline its operations, strengthen its capital position and focus on its best performing stores. Stores are expected to close by November.
Sears Holdings CEO Edward Lampert entered a bid of $400 million to acquire the Kenmore brand, in a letter to the Sears board, offering to pick up the Sears Home Services division for $70 million to $80 million. See why this move is critical and what it means for Sears’ future.
The Bon-Ton Stores Inc. announced it would close 42 store locations as part of its “store rationalization program.” See what CEO and president Bill Tracy had to say about the future plans for The Bon-Ton Stores.
Toys ‘R’ Us announced it is closing nearly 180 stores across the U.S., accounting for one-fifth of its retail footprint, in the wake of filing for bankruptcy protection in late 2017. See what CEO and chairman Dave Brandon had to say about the future of the company.
Macy’s announced it would close an additional 11 stores this year in an effort to continue improvements in organizational efficiency and to allocate resources to support its growth strategy. Here is the reason behind the closures and what it means for Macy’s.