Shopping Centers Today International

FEB 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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"In general, Lord & Taylor getting into this outlet business makes all the sense in the world, because for a lot of consumers, this is where they are look- ing to shop, and this is how they're shopping," said Karen Bellantoni, a vice chairman at RKF, a New York City– based retail real estate brokerage. And there remains room for growth within the value-price sector, she says, especially as relates to department stores. The Find @ Lord & Taylor stores will carry a range of apparel, footwear, home goods and accessories across some 30,000 square feet of selling space. "Off-price continues to be a key driver of [our] growth strategy, and we are thrilled to expand this busi- ness with the introduction of our newest concept," said Hudson's Bay He HudsON's BAY CO. Is BOOsTINg its presence in the off-price retail sector with a new concept it calls Find @ Lord & Taylor. The Toronto-based department store giant introduced the first of these stores in November, in Paramus N.J., near the Outlets at Bergen Town Center and less than a mile from its full-price Lord & Taylor store at garden state Plaza. HBC has announced plans to open six more of these new stores this year, all in the Northeastern u.s. CeO gerald storch in a prepared state- ment. "We see significant opportunity for expansion and remain committed to investing in this sector through new store openings and developments." Having acquired galeria Kaufhof, germany's largest department store chain, in October, the company now operates nine department store concepts that range from luxury to off-price. In North America these are Hudson's Bay, Lord & Taylor, Home Outfitters and saks Fifth Avenue, as well as the off-price saks Fifth Avenue Off 5th. Besides gale- ria Kaufhof, the european names are galeria Inno and sportarena. Off-price stores have been an increas- ingly popular growth venue for depart- ment store chains in recent years, so Find @ Lord & Taylor will be competing with the likes of Bloomingdales Outlet, T discount debut Find @ lord & taylor marks another arrival in the oFF-price sector By Beth Mattson-Teig r e T a i l i n g T o d a y 18 S C T / F e b r u a r y 2 0 1 6

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