The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
HBC to Close Lord & Taylor Fifth Ave. Flagship, Sell Gilt
Both announcements come as the retailer aims for a turnaround.
New York--Nearly eight months after announcing it would sell its Lord & Taylor building in New York and scale down the footprint there, Hudson’s Bay Co. has now said it will close the store.
The company announced Tuesday in its first quarter results that as it continues to balance its brick-and-mortar presence with online channels, it has decided to close its Fifth Avenue flagship in New York City altogether.
The company originally planned to continue to operate a much smaller space in the building after it sold to co-working space company WeWork in a deal valued at $850 million.
In its statement, HBC said that, “…exiting this iconic space reflects Lord & Taylor’s increasing focus on its digital opportunity and HBC’s commitment to improving profitability.”
The company said it expects to close up to 10 Lord & Taylor stores through 2019.
It has been struggling with the well-known retailer for some time. Reuters reported in early May that HBC had hired advisors to help it turn the chain around or possibly find it a buyer.
Hudson’s Bay also announced mid-May that it had appointed Vanessa LeFebvre president of Lord & Taylor in hopes of a turnaround. She joins the company from online retailer Stitch Fix.
Meanwhile, HBC also announced in its Q1 results it has entered into an agreement to sell member-based digital shopping business Gilt to flash sale site Rue La La for an undisclosed amount.
According to a press release from Rue La La, the two brands will continue to operate independently under the newly formed Rue Gilt Groupe, serving more than 20 million members between them. The buyer said it plans to hire more than 150 associates to run the Gilt business in New York, Boston and Kentucky, as well as other sites across the country.
The deal is expected to close in July.
HBC said Gilt, which it acquired in 2016, generated less than 4 percent of its total sales in fiscal 2017.
In its first quarter results, Hudson’s Bay said overall comps were basically flat, with total comparable digital sales increasing nearly 8 percent.
Comps at Saks Fifth Avenue were up 6 percent, while comps at Saks Off 5th were down 4 percent. Same-store sales at DSG (which includes Hudson’s Bay stores, Lord & Taylor and Home Outfitters) and HBC Europe were both down, with the former decreasing nearly
The Latest
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The announcement came as the company reported a 23 percent drop in production in Q1.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.