Lord & Taylor to open three new U.S. stores 

TRD New York /
Oct.October 17, 2011 11:58 AM

New York-based retail chain Lord & Taylor is gearing up to open three new stores in the next year, the New York Post reported.

New locations will include an 80,000-square-foot store at Ridge Hill, a lifestyle center in Yonkers, a 120,000-square-foot store in Rockingham, NH, and an 80,000-square-foot store in Boca Raton, Fla., at Mizner Park.

The move to open more stores comes as a surprise since Lord & Taylor’s owner, Canada-based Hudson’s Bay Co., called off plans earlier this month to launch an initial public offering on the Toronto Stock Exchange.

While Hudson’s Bay isn’t in any financial difficulties, its owner and chairman, Richard Baker — a New York real estate mogul who purchased Lord & Taylor as a property investment — is eager to launch the IPO next year, the Post said.

“To pull off an IPO, they do need to show some growth,” says Charles Grom, a retail analyst at Deutsche Bank Securities. [Post]

Related Articles

Scale model of Manhattan at Gulliver's Gate (Credit: Getty Images)

Gulliver’s Gate closes at Kushner’s Times Square property

A Forever 21 location (Credit: Getty Images, iStock)A Forever 21 location (Credit: Getty Images, iStock)

Bankrupt Forever 21 seeks more time to sell on its own terms

A report found that 45 percent of retailer bankruptcies over the past 15 years led to liquidation (Credit: iStock)

For retailers, bankruptcy more likely to end in liquidation

Fairway Market (Credit: Getty Images)

Fairway Market files for bankruptcy, plans to sell stores

(Credit: Getty Images)

Express to close 100 stores, stock jumps 21%

Abercrombie and Fitch CEO Fran Horowitz and an aerial view of 600 Broadway, blocked by 606 Broadway (Credit: Getty Images, Google Maps)

The curious case of 600 Broadway

Opening Ceremony founders Humberto Leon and Carol Lim and the brand's Soho location at 35 Howard Street (Credit: Getty Images, Google Maps)  

Opening Ceremony is the latest Soho retailer to close

Town & Country Crossing in Town & Country, MO; The Crossroads in Royal Palm Beach, FL; and Mission Bay Plaze in Boca Raton, FL

Here’s why open-air strip centers are outperforming enclosed malls