https://techcrunch.com/2017/11/13/lord-taylor-will-start-selling-on-walmart-com/
3 replies (most recent on top)
That’s bad news for Lord and Taylor. If you’re supposed to be a store that sells exclusivity, keep your stuff out of the discount world. That’s the kiss of death.
Yep, well it's no shock Lord & Taylor is in trouble. Recent article (10/20/17) headlines in CNN Money says it all:
These are trying times for retail. Hudson's Bay Company -- which owns the Saks Fifth Avenue and Lord & Taylor department stores -- is no exception.
The Canadian-based company has reported net losses in the hundreds of millions of dollars. It announced earlier this year that it has reduced its workforce by about 2,000 jobs across its North American operations, and HBC's share price is down nearly 27% over the past year.
On Friday, HBC announced its CEO is stepping down.
Walmart has been trying to go upscale for years. Once you have “low prices always” model you will always be that cheap store. It’s very hard going upscale. I wouldn’t be surprised Lord & Taylor‘s stock drops. Any real designer knows to keep their clothes out of a store like that.