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Lord & Taylor's Fifth Avenue Store to Close After 104 Years

  • Hudson’s Bay reports wider-than-expected loss in first quarter
  • New CEO Foulkes says everything is on table for turnaround
Mannequins stand at the newly opened Hudson's Bay Co. Lord & Taylor LLC department store in Boca Raton, Florida, U.S., on Thursday, Oct. 10, 2013. Retail sales figures, which were scheduled for Oct. 11 by the U.S. Census Bureau, will not be released due to the partial government shutdown.
Mannequins stand at the newly opened Hudson's Bay Co. Lord & Taylor LLC department store in Boca Raton, Florida, U.S., on Thursday, Oct. 10, 2013. Retail sales figures, which were scheduled for Oct. 11 by the U.S. Census Bureau, will not be released due to the partial government shutdown.Photographer: Mark Elias
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Hudson’s Bay Co., the owner of Saks Fifth Avenue, said it will close as many as 10 Lord & Taylor stores -- including the flagship Manhattan location -- in an attempt to revive its struggling units.

The closures will occur through 2019, the company said Tuesday. Hudson’s Bay had originally planned to keep a Lord & Taylor presence in the Italian Renaissance building on Fifth Avenue, which it agreed to sell for $850 million in October. The store opened there in 1914.