In another sign of trouble for traditional retailers, iconic department store Lord & Taylor has been sold for $75 million to Le Tote, Inc., a fashion rental subscription service.
In another sign of the separation between haves and have-nots in retail, Lord & Taylor's owner said it would consider selling the iconic department store chain.
Looking for another sign of how tough it is in the world of retail? The century-old Lord & Taylor store on New York's Fifth Avenue,is going to shut down next year and become a WeWork space.
Hudson's Bay is cutting its workforce by about 2,000 jobs across its North American operations.