Lord & Taylor
After lasting in business for more than 100 years, Lord & Taylor shuttered its flagship store located on Fifth Avenue last year. Unfortunately, more stores are up for closures this year. Lord & Taylor will close up to 10 more stores in 2020, but they have yet to announce which store locations are to be shuttered.
In March, Foot Locker Inc. announced the closure of 167 of its stores. It will invest heavily in its remaining locations, spending millions in the process. The move is an attempt to improve its profit margins. The shoe retailer’s shareholders were surprised by its good performance in last year’s fourth quarter.