Lord & Taylor will no longer maintain a presence on Fifth Avenue, the retail chain’s parent company announced on June 5, as part of its move away from brick-and-mortar retail and toward online sales.
Helena Foulkes, chief executive officer for Canada-based Hudson’s Bay Company (HBC), said in a statement that Lord & Taylor would be moving from its iconic storefront, where it has been for the last 100 years, “for improved results and increased profitability.”
