Thursday, January 06, 2005

lord & taylor slims down


Lord & Taylor, Water Tower Place, Chicago, Illinois. May Department Stores Co. is nearing completion of a plan to shut down 32 underperforming Lord & Taylor department stores (though this one will remain open), saving the company $50 million annually, the retailer said Tuesday. (photo by Justin Hall, 2003)

ST. LOUIS -- May Department Stores Co. is nearing completion of a plan to shut down 32 underperforming Lord & Taylor department stores, saving the company $50 million annually, the retailer said Tuesday.

The six stores scheduled to close at the end of January are in Houston, Atlanta, Virginia Beach, Va., Denver, Albany, N.Y., and Springfield, Mass. That will bring to 25 the number of Lord & Taylor stores closed since the company announced in July 2003 it intended to shut down underperforming stores in 15 states, leaving 3,700 employees without jobs. (more)

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