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Old 11-12-2018, 12:32 PM
 
5,546 posts, read 6,827,966 times
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https://www.phillymag.com/business/2...g-center-city/
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Old 11-12-2018, 12:41 PM
 
Location: New York City
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Originally Posted by AJNEOA View Post
Thats what I just posted lol.
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Old 11-14-2018, 02:43 PM
 
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Originally Posted by cpomp View Post
Thats what I just posted lol.
I looked and didn't see it. Probably a page refresh was needed.
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Old 11-20-2018, 12:26 PM
 
Location: New York City
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https://www.phillymag.com/business/2...ings-closings/

KoP version of "whats new on Walnut St" Certainly has Walnut St beat.
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Old 11-20-2018, 06:16 PM
 
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Originally Posted by cpomp View Post
https://www.phillymag.com/business/2...ings-closings/

KoP version of "whats new on Walnut St" Certainly has Walnut St beat.
Considering that we're heading toward a bear market and possibly a full blown recession retail is going to take a beating.

So who knows what will happen with these stores?
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Old 11-20-2018, 06:58 PM
 
Location: New York City
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Originally Posted by kyb01 View Post
Considering that we're heading toward a bear market and possibly a full blown recession retail is going to take a beating.

So who knows what will happen with these stores?
Who knows... I see retail suffering in New York on the daily (Lord & Taylor being the most noticeable).

But I think in Philadelphia's case, many of the luxury retailers in KoP are the sole location in the region (some in the state), so unless they are performing very poorly, I think they will remain open.

New York, however, has had a an oversupply of luxury stores hence why many are closing up shop or downsizing locations as of late.
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Old 11-20-2018, 09:28 PM
 
Location: Germantown, Philadelphia
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Originally Posted by cpomp View Post
Who knows... I see retail suffering in New York on the daily (Lord & Taylor being the most noticeable).
How much of the flagship store has been turned over to WeWork?

It's a novel deal, but WeWork's investment is at least keeping Hudson's Bay Company's US operations alive - or is it on life support now?
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Old 11-21-2018, 08:59 AM
 
Location: New York City
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Originally Posted by MarketStEl View Post
How much of the flagship store has been turned over to WeWork?

It's a novel deal, but WeWork's investment is at least keeping Hudson's Bay Company's US operations alive - or is it on life support now?
The entire store is closing! Really sad to see it go. I was just there last week, everything is on clearance, I scored an amazing new suit for pennies on the dollar. Closing date is sometime in January.

The original plan was L&T to scale down from 10 floors to 3, the deal fell threw (not sure the background).

Hudson Bay's L&T holdings are on life support. After this round of closures there will only be 35 locations left (3 in the Philadelphia region).
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Old 11-21-2018, 09:14 AM
 
Location: Germantown, Philadelphia
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Originally Posted by cpomp View Post
The entire store is closing! Really sad to see it go. I was just there last week, everything is on clearance, I scored an amazing new suit for pennies on the dollar. Closing date is sometime in January.

The original plan was L&T to scale down from 10 floors to 3, the deal fell threw (not sure the background).

Hudson Bay's L&T holdings are on life support. After this round of closures there will only be 35 locations left (3 in the Philadelphia region).
When did Hudson's Bay Company acquire Saks Fifth Avenue from the Alabama-based company that owned it (it was originally called Proffit's, I think, then changed its name to Saks Inc. after the acquisition)?

If we really want to get historical about it, Saks and Gimbels were owned by siblings from (or branches of) the same family way back when.
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Old 11-21-2018, 09:21 AM
 
10,787 posts, read 8,664,920 times
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Quote:
Originally Posted by cpomp View Post
Who knows... I see retail suffering in New York on the daily (Lord & Taylor being the most noticeable).

But I think in Philadelphia's case, many of the luxury retailers in KoP are the sole location in the region (some in the state), so unless they are performing very poorly, I think they will remain open.

New York, however, has had a an oversupply of luxury stores hence why many are closing up shop or downsizing locations as of late.
Truthfully it breaks my heart to see an iconic store like L&T go under. Sigh....

It's an open question of course how things will play out. The tough spot for millennials is that many probably don't remember much about when the bottom fell out 10 years ago. It was scary! Luckily there was no run on banks.

KoP, obviously, came out of the Great Recession to become better than ever. We shouldn't worry so much until we have to.
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