Victoria’s Secret Fashion Show canceled from television

May 10, 2019

by Daphne Sorenson

Victoria's Secret Fashion Show
Models at the 2018 Victoria’s Secret Fashion Show in New York City (Photo by Jeff Neira/ABC)

The annual Victoria’s Secret Fashion Show has been canceled—at least on television. According to the New York Times, L Brands (the company that owns Victoria’s Secret) announced in an internal memo on May 10, 2019, that the famous lingerie show featuring numerous supermodels will no longer be airing on television.

L Brands CEO Leslie Wexner said in the memo that the company had been “taking a fresh look at every aspect of our business” in the past few months, and noted that Victoria’s Secret  “must evolve and change to grow … With that in mind, we have decided to re-think the traditional Victoria’s Secret Fashion Show. Going forward we don’t believe network television is the right fit.” He said the company would develop “a new kind of event” for Victoria’s Secret but did not elaborate on any further details.

It’s the latest blow to Victoria’s Secret, which has been experiencing declining sales and store closures.

TV ratings for the annual Victoria’s Secret Fashion Show have also been on a rapid decline. The show, which debuted in 1995, wasn’t televised until 2001, when it got 12.4 million U.S. viewers on ABC. It remains the highest-rated Victoria’s Secret show for a single TV network, according to Nielsen. CBS televised the show in 2002, 2003 and from 2005 to 2017. During those years, the ratings ranged from 10.5 million U.S. viewers (in 2002) to 5 million U.S. viewers (in 2017). ABC picked up the show in 2018, when it had 3.3 million U.S viewers.

It’s likely that the Victoria’s Secret Fashion show will continue and will have an online platform where people can watch the show.

2019 Tribeca Film Festival movie review: ‘What Will Become of Us’

May 5, 2019

by Carla Hay

Frank Lowy in "What Will Become of Us"
Frank Lowy in “What Will Become of Us” (Photo by Leon Moralić)

“What Will Become of Us”

Directed by Steven Cantor

World premiere at the Tribeca Film Festival in New York City on May 2, 2019.

In the documentary “What Will Become of Us,” Frank Lowy, the billionaire founder of the Westfield corporation of shopping malls, has a dilemma: Should he sell his beloved business and go into retirement, or should he keep his business, which he plans to leave to his three sons? At first glance, this might seem like a movie about “rich people’s problems.” However, Lowy (who was born in 1930) has a much more emotionally riveting and fascinating story to tell in this film, which clocks in at a brisk 75 minutes.

Lowy, who was born in the country then known as Czechoslovakia, is no spoiled heir who was handed his wealth by a privileged parent. He literally has a “rags to riches” story a Jewish refugee of the Nazis who invaded his country and tore his family apart. In “What Will Become of Us,” Lowy, accompanied by his biographer David Kushner, goes back to many of the sites from his childhood that still haunt him.

Growing up, Lowy was bullied and beaten up for being Jewish. His childhood experiences are still painful for him to remember, because he calls his country of his birth “a horrible place” with “sad memories.” From 1943 to 1945, Lowy and his family (his parents, his sister and his brother) lived in Budapest, Hungary. Lowy had a very close relationship with his father, who disappeared when Lowy was 14, during the Nazi occupation of Hungary. Lowy says he still grieves for his father, and he is at his most tearful in the documentary when talks about his father. Later on in the movie, Lowy finds out what finally happened to his long-lost father.

After fleeing Nazi-occupied Hungary, Lowy and his family went their separate ways. He lived in Palestine and Israel from 1946 to 1952. His sister married a lawyer in Australia, where his mother and brother eventually moved. Lowy later joined them in Australia in 1952, when he began his life as a business mogul in Sydney.

Lowy had humble beginnings in Australia, where he started off as a delivery boy. He saved up enough money to eventually buy a deli and a coffee shop, which he sold and used the money to buy real estate. His real-estate dealings evolved into the shopping-mall business that he is known for today. (In 1960, Lowy co-founded Westfield with John Saunders, who sold his interest in the company to Lowy years later.)

“What Will Become of Us” also delves into Lowy’s personal life. Married to his wife Shirley since 1964, Lowy describes their relationship as “love at first sight” for him when he met her at a Hanukkah party. He was 31, and she was 19 when they met, and they married 18 months later. It sounds like an ideal love story, but Shirley now has Alzheimer’s disease. As Frank describes it, “Physically, she’s there, but mentally she’s not.” She is interviewed in the movie, which some instances of her memory loss.

Frank also says that he’s been a hardcore workaholic for decades, so that might be why the documentary doesn’t really give much information about the relationships that he’s had with his three sons: Peter and Steven (the co-CEOs of Westfield) and David, a principal of the Lowy Family Group. All three sons are interviewed in the movie, but they don’t reveal anything about the family dynamics in running the business or how they deal with each other on a personal level. Although Frank is shown being a devoted husband tending to Shirley, one has to wonder how small of a fraction of time that is for him, compared to all the time he admits to spending on his business.

At the beginning of the movie, Frank says it’s “painful” for him to open up negotiations to sell Westfield. If you follow corporate business news, then you know what his decision was on whether or not to sell the company. “What Will Become of Us” isn’t really a window into how Westfield is run, but it’s a fairly effective attempt to make billionaire Frank Lowy look more human and emotionally vulnerable than the ruthless image that corporate moguls like him tend to have.

Adidas and Beyoncé announce multi-layered partnership

April 4, 2019

The following is a press release from Adidas:

Adidas and Beyoncé have announced a multi-layered partnership that will include inspiring and empowering the next generation of creators, driving positive change in the world through sport, and identifying new business opportunities.

“This is the partnership of a lifetime for me,” said Beyoncé. “Adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to re-launching and expanding Ivy Park on a truly global scale with a proven, dynamic leader.”

Beyoncé and Adidas are natural partners, both with a deep respect for and commitment to creativity, equity and creators. Neither ascribes to the typical stereotypes of athletes and what athleisure clothing and footwear should be, and instead, will bring to life a shared vision of inclusion that will forever alter the opportunities and landscape for all.

The partnership will result in the co-creation of exciting new products – from performance to lifestyle – and a unique purpose-driven program focused on empowering and enabling the next generation of athletes, creators and leaders. Meaningful and rich storytelling will be the foundation for both Beyoncé’s collection with Adidas as well as the re-launch of her Ivy Park brand. This partnership respects Beyoncé’s ownership of her company which continues her journey as one of the first black women to be the sole owner of an athleisure brand.

“As the creator sports brand, Adidas challenges the status quo and pushes the limits of creativity through its open source approach. Beyoncé is an iconic creator but also a proven business leader, and together, we have the ability to inspire change and empower the next generation of creators,” said Eric Liedtke, Executive Board Member – Global Brands, Adidas

Adidas is excited to welcome Beyoncé to the family!

About Adidas
Adidas is a global leader in the sporting goods industry with the core brands Adidas and Reebok. Headquartered in Herzogenaurach/Germany, the company employs 57,000 people across the globe and generated sales of around € 22 billion in 2018.

About Parkwood Entertainment
Parkwood Entertainment is an entertainment and management company founded by entertainer and entrepreneur, Beyoncé in 2010.  With headquarters in New York City the company houses departments in music and video production, management, marketing, digital, creative, philanthropy, publicity and a newly formed record label.  Under its original name, Parkwood Pictures, in 2008, the company released the film Cadillac Records (2008), in which Beyoncé starred and co-produced. The company also released the film, Obsessed (2009), with Beyoncé as star and executive producer. Parkwood Entertainment produced The Mrs. Carter Show World Tour (2013-2014) and The Formation World Tour (2016), and co-produced the On the Run Tour (2014) and On the Run II (2018).

Victoria’s Secret business crisis: store shutdowns, PINK brand in decline

April 1, 2019

by Daphne Sorenson

Models at the 2018 Victoria’s Secret Fashion show in New York City (Photo by Heidi Gutman/ABC)

Victoria’s Secret is experiencing a very public meltdown. The world’s most famous lingerie brand is closing up to 53 stores in North America in 2019, due to a decline in sales. According to Business Insider, most of the stores are located in shopping malls, which have been experiencing their own major financial problems in recent years. Although Victoria’s Secret has swimwear and sportswear, the company’s core business is still lingerie. In November 2018, Victoria’s Secret Lingerie appointed John Mehas its CEO. He replaced Jan Singer, who was with the company for two years.

Meanwhile, PINK—the Victoria’s Secret brand targeted to millennials—has become a big flop. Jefferies analyst Randal Konik told investors that sales for PINK in fell in the “low double digits” for the fourth quarter of 2018, according to Business Insider. Konik gave investors this bleak view of PINK after he attended a PINK consumer event at New Jersey’s Rutgers University on March 29, 2019:  “Our visit to Rutgers University on 3/29 shows the PINK brand without fans and rudderless. We believe PINK sales may be cut in half or more within the next 12-24 months.”

It’s the latest financial problem for Victoria’s Secret parent company L Brands, which already experienced the shutdown of its Henri Bendel business in January 2019.

So why has Victoria’s Secret been losing so much business? In December 2018, Business Insider reported that it’s a combination of reasons, such as complaints about bad customer service, the declining quality of the clothes and the company’s alienating image that women are “sexy” only if they look like the thin women who are hired to be Victoria’s Secret models. It didn’t help that L Brands chief marketing officer Ed Razek told Vogue in 2018 that there were no plans for Victoria Secret to have plus-sized on transgender models, and that Victoria’s Secret was not going to add plus-sizes because L Brands already has retail brand Lane Bryant, whose specialty is plus-sized women’s clothing. (What he didn’t mention in the interview is that Lane Bryant is also experiencing financial difficulties and store closures.)

Simply put: In an era where consumers are demanding more inclusive representation, Victoria’s Secret has been increasingly perceived as old-fashioned, out-of-touch and over-priced.

TV ratings for the annual Victoria’s Secret Fashion Show have also been on a rapid decline. The show, which debuted in 1995, wasn’t televised until 2001, when it got 12.4 million U.S. viewers on ABC. It remains the highest-rated Victoria’s Secret show for a single TV network, according to Nielsen. CBS televised the show in 2002, 2003 and from 2005 to 2017. During those years, the ratings ranged from 10.5 million U.S. viewers (in 2002) to 5 million U.S. viewers (in 2017). ABC picked up the show in 2018, when it had 3.3 million U.S viewers.

Here’s a partial list of the Victoria’s Secret stores that are confirmed to close in 2019, according to Business Insider:

  • Astoria, New York: 31-35 Steinway Street
  • Clay, New York: Great Northern Mall, 4155 NY-31
  • Washington, DC: 1050 Connecticut Avenue NW
  • Reston, Virginia: Reston Town Center, 11929 Market, Suite 50
  • Richmond, Virginia: Stony Point Fashion Park, 9200 Stony Point Parkway
  • Glen Allen, Virginia: Virginia Center Commons, 10101 Brook Road
  • Myrtle Beach, South Carolina: Myrtle Beach Mall, 10177 N. Kings Highway
  • Knoxville, Tennessee: West Town Mall, 7600 Kingston Pike
  • Jacksonville, Florida: Regency Square Mall, 9501 Arlington Expressway
  • Cedar Falls, Iowa: College Square Mall, 1 College Square Mall
  • Akron, Ohio: Chapel Hill Mall, 2000 Brittain Road
  • Cincinnati, Ohio: Tri-County Mall, 11700 Princeton Pike
  • Cleveland, Ohio: Tower City Center, 230 W. Huron Road
  • Elyria, Ohio: Midway Mall, 3433 Midway Mall

Karl Lagerfeld passes away: Fashion icon was creative force behind Chanel, Karl Lagerfeld, Fendi designer labels

February 19, 2019

by Yvette Thomas

Karl Lagerfeld
Karl Lagerfeld (Photo by Jamie McCarthy/Getty Images)

Karl Lagerfeld—the iconic fashion designer who was the longtime creative force behind Chanel, Fendi, Chloé and his own Karl Lagerfeld Paris label—died at the American Hospital of Paris in the Parisian suburb of Neuilly-sur-Seine on February 19, 2019. The cause of death has not yet been officially revealed, but several media outlets are reporting that he had pancreatic cancer. Although his age at the time of his death has been widely reported as 85, the Associated Press reports that Lagerfeld had two birth certificates—one that lists his birth year as 1933 and the other as 1938—and it has not been verified which one is authentic.

Karl Lagerfeld
Karl Lagerfeld and Nicki Minaj in Elle’s July 2018 issue (Photo by Karl Lagerfeld)

What is known for sure is that Lagerfeld was born in Hamburg, Germany, to a successful industrialist father and a violinist mother. He went to school in Paris, and apprenticed at Balmain before joining Patou in 1965. Lagerfeld joined Fendi in 1965, and later became the Italian design company’s creative director. He then made his mark at French label Chloe, followed by his career high point as creative director of the legendary Chanel company, beginning in 1983.

Lagerfeld started his own eponymous fashion label (Karl Largerfeld Paris) in 1984, and remained its creative director after it was sold to the Tommy Hilfiger Company in 2005. In addition to being a fashion designer and entrepreneur, Lagerfeld was an author and photographer. At the height of his fame, he became known for his eccentric personal fashion style, which included wearing a ponytail, mostly black clothes and always wearing sunglasses and gloves in public. Even though he was widely admired in the fashion world, Lagerfeld also had his share of critics and made statements that were considered racially or culturally offensive. In August 2018, the New York Times published a blistering critique of Lagerfeld that questioned why more people weren’t boycotting his work because of offensive comments he has made over the years.

Lagerfeld, who was openly gay, never married and did not have children. However, he famously treated his Birman cat called Choupette as if she were a human child. Lagerfeld’s health had been the subject of speculation after he did not take his traditional final bow at Chanel’s fashion show in Paris on January 22, 2019.  Chanel’s studio director Virginie Viard walked in Lagerfeld’s place instead. Chanel announced after Lagerfeld’s death that Viard has been promoted and will replace him at Chanel. Fendi and Karl Lagerfeld Paris have not yet announced who will replace Lagerfeld at their respective companies. Lagerfled’s last Fendi collection will be shown in Milan, Italy, on February 21, 2019.

Charlotte Russe files for bankruptcy, announces store closings

February 4, 2019

by Daphne Sorenson

Women’s fashion retailer Charlotte Russe has joined the growing list of financially troubled retailers that are closing stores after filing for bankruptcy. On February 4, 2019, Charlotte Russe announced plans to close 94 of its approximately 500 stores in a Chapter 11 bankruptcy filing, according to Business Insider. The company is hoping to finder a buyer before February 17, 2019. If no buyer is found, Charlotte Russe, which also owns children’s retailer Peek Kids, will likely liquidate all of its assets and close all its remaining stores. Business Insider reports that Charlotte Russe has received $50 million in debt relief to keep operating during its bankruptcy transition. At the time of the bankruptcy filing, Charlotte Russe had more than 8,700 employees.

Here is the list of the first 94 Charlotte Russe stores that are closing because of the bankruptcy:

Alabama

Florence: Florence Mall, 301 Cox Creek Parkway

California

Arvin: 5701 Outlets at Tejon Parkway

Culver City: Westfield Culver City, 6000 Sepulveda Boulevard

Daly City: 288 Serramonte Center

Fairfield: 1350 Travis Boulevard

Irvine: 71 Fortune Drive

La Mesa: Grossmont Center, 5500 Grossmont Center

San Bernardino: 500 Inland Center Drive

San Jose: Westfield Oakridge, 925 Blossom Hill Road

Santa Ana: MainPlace Mall, 2800 North Main Place

Valencia: Westfield Valencia Town Center, 24201 West Valencia Blvd.

Westminster: Westminster Mall, 2150 East Westminster Mall

Colorado

Grand Junction: Mesa Mall, 2424 US Highway 6

Pueblo: Pueblo Mall, 3429 Dillon Drive

Connecticut

Meriden: Westfield Meriden Mall, 470 Lewis Avenue

Milford: Connecticut Post Mall, 1201 Boston Post Road

Ledyard: 4anger Outlets Foxwoods, 455 Trolley Line Boulevard

Florida

Jacksonville: Markets at Town Center, 4870 Big Island Drive

Port Richey: Gulf View Square, 9409 US Highway 19

Sarasota: The Mall at University Town Center, 140 University Town Center Drive

West Palm Beach: Palm Beach Outlets, 1721 Palm Beach Lakes Boulevard

Georgia

Commerce: Tanger Outlets Commerce, 800 Steven B. Tanger Boulevard

Douglasville: Arbor Place, 1440 Douglas Boulevard

Pooler: Tanger Outlets Savannah, 200 Tanger Outlet Boulevard

Hawaii

Aiea: Pearlridge Center, 98-1005 Moanalua Road

Kahlului: Queen Ka’ahumanu Center, 275 West Kaahumanu Avenue

Kaneohe: Windward Mall, 46-056 Kamehameha Highway

Illinois

Algonquin: 1952 South Randall Road

Joliet: Louis Joliet Mall, 3340 Mall Loop Drive

Lincolnwood: 3333 West Touhy Avenue

Lombard: Yorktown Shopping Center, 203 Yorktown

Peoria: Northwoods Mall, 2200 W. War Memorial Drive

Skokie: 4999 Old Orchard Center

Indiana

Hobart: Southlake Mall, 2063 Southlake Mall

Iowa

West Des Moines: Valley West Mall, 1551 Valley West Drive

Kentucky

Ashland: 500 Winchester Avenue

Louisiana

New Orleans: Outlet Collection at Riverwalk, 500 Port of New Orleans Place

Slidell: Fremaux Town Center, 760 Town Center Parkway

Maryland

Annapolis: Annapolis Mall, 2550 Annapolis Mall

Bel Air: Harford, 696 Bel Air Road

Frederick: 5500 Buckeystown Pike

Gaithersburg: Lakeforest Mall, 701 Russell Avenue

Hagerstown: Valley Mall, 17301 Valley Mall Road

Ocean City: 12741 Ocean Gateway

Massachusetts

Cambridge: CambridgeSide Galleria, 100 Cambridgeside Place

Kingston: Kingston Collection, 101 Independence Mall Way

Michigan

Dearborn: Fairlane Town Center, 18900 Michigan Avenue

Howell: Tanger Outlets Howell, 1475 North Burkhart Road

Okemos: Meridian Mall, 1982 W. Grand Rive Avenue

Saginaw: Fashion Square Mall, 4667 Fashion Square Mall

Minnesota

Bloomington: Mall of America, 141 East Broadway

Burnsville: 1178 Burnsville Center

Missouri

Kansas City: Zona Rosa, South County Center, 7260 NW 86th Place

Lee’s Summit: Summit Fair, 880 NW Blue Parkway

St. Louis: South County Center, 85 South County Centerway

New Jersey

Atlantic City: Tanger Outlets Atlantic City, 122 Christopher Columbus Boulevard

East Brunswick: Brunswick Square, 755 State Road 18

Moorestown: Moorestown Mall, 400 Route 38

New York

Glendale: 8000 Copper Ave.

Massapequa: Sunrise Mall, 2135 Sunrise Mall

Nanuet: 66 Rockland Plaza Route 59

New Hartford: Sangertown, Route 5 & 5A

New York: 130 W. 34th Street

Niagara Falls: 1982 Military Road

Saratoga Springs: 3065 Route 50

Victor: Eastview Mall, 672 EastView Mall

Yorktown Heights: Jefferson Valley Mall, 650 Lee Boulevard

North Carolina

Gastonia: 246 New Hope Road

Ohio

Liberty Township: Liberty Center, 7100 Foundry Row

Mentor:  Great Lakes Mall, 7850 Mentor Avenue

Toledo: Franklin Park, 5001 Monroe Street

Oregon

Eugene: Valley River Center, 293 Valley River Center

Pennsylvania

Altoona: Logan Valley Mall, Route 220 & Goods Lane

Pittsburgh: Mall at Robinson, 100 Robinson Centre Drive

Willow Grove: Willow Grove Park Mall, 2500 Moreland Road

York: York Galleria, 2899 Whiteford Road

South Carolina

Florence: Magnolia Mall, 2701 David McLeod Boulevard

Myrtle Beach: Coastal Grand Mall, 2000 Coastal Grand Circle

North Charleston: Northwoods Mall, 2150 Northwoods Boulevard

Tennessee

Chattanooga: 2100 Hamilton Place Boulevard

Johnson City: 2011 North Roan Street

Texas

Cedar Hill: Hillside Village, 305 West FM

Fort Worth: 15853 North Freeway

New Braunfels: New Braunfels Town Center at Creekside, 257 Creekside Crossing

Victoria: Victoria Mall, 7800 North Navarro Street

Waco: Richland Mall, 6001 West Waco Drive

Virginia

Dulles: 21100 Dulles Town Circle

McLean: 7860 Tyson’s Corner Center

Springfield: 6767 Springfield Mall

Washington

Auburn: Outlet Collection Seattle, 1101 Outlet Collection Way

West Virginia

Morgantown: Morgantown Mall, 9500 Mall Road

Wisconsin

Brookfield: Brookfield Square, 95 North Moorland Road

Glendale: Bayshore Town Center, 5800 North Bayshore Drive

Madison: East Towne Mall, 375 East Towne Mall

Department store decline: Macy’s, Kohl’s, Norsdtrom, JCPenney closing more stores in 2019

January 28, 2019

by Daphne Sorenson

department store retail

 

The decline of department stores continues to affect the retail industry, as Macy’s, Kohl’s, Nordstrom and JCPenney have announced that they will be closing more stores in early 2019. It’s part of trend that is hitting fashion retail especially hard, since about half of the retailers that closed the largest number of stores in 2018 have fashion as their core business. Kohl’s will be shuttering all of its stores that are located in shopping malls, while almost all of the stores that Macy’s, Nordstom and JCPenney are closing are also located in shopping malls.

Many of the stores that are closing are not in economically depressed areas but are in areas with middle- or high-income levels, with the highest-income levels in places such as New York City’s Rego Park area; the San Francisco Bay Area’s Silicon Valley; West Los Angeles (near Beverly Hills); Redmond, Washington (a suburb of Seattle); and Fairfax County, Virginia. That’s probably because customers in these high-income areas are more likely to have the resources (credit cards with high credit lines) to do more online shopping than people with lower incomes. But that’s only part of the reason why these stores are closing. Based on customer review sites such as Yelp, these stores have been plagued for quite some time with complaints about bad customer service, declining appearance/cleanliness and unsatisfactory inventory.

According to Business Insider, these are the stores that will be closing in 2019:

Kohl’s
Kohl’s Rego Park at Rego Center in Rego Park, New York
Kohl’s Valley Stream at Green Acres Mall in South Valley Stream, New York
Kohl’s Lenexa in Lenexa, Kansas
Kohl’s Houma at Houma Crossing Mall in Bayou Cane, Louisiana

JCPenney
Three stores to be announced.

Macy’s
Macy’s at Casper Eastridge in Casper, Wyoming
Macy’s at Redmond Town Center in Redmond, Washington
Macy’s at Sunnyvale Town Center in Sunnyvale, California
Macy’s Furniture Gallery at Westside Pavilion in Los Angeles, California
Macy’s at Glendale Mall in Indianapolis, Indiana
Macy’s at Swansea Mall in Swansea, Massachusetts
Macy’s at Tysons Galleria in McLean, Virginia
Macy’s at Nanuet Mall in Nanuet, New York
Macy’s at Charleston Town Center in Charleston, West Virginia

Nordstrom
Nordstrom at The Mall at Wellington Green in Wellington, Florida
Nordstrom at MacArthur Center Mall in Norfolk, Northern Virginia
Nordstrom at Providence Place Mall in Providence, Rhode Island

 

Gymboree is closing all of its stores after bankruptcy problems

January 14, 2019

by Patricia Garrett

Gymboree

Gymboree, a prominent retailer for children’s clothing and toys, is closing all of its remaining stores (about 900) after the company failed to rebound from a bankruptcy. According to Market Watch, Gymboree is expected to file for a second bankruptcy, which will shutter its remaining stores.

In 2017, Gymboree closed about 350 of its stores in the U.S. as part of its first bankruptcy reorganization. The San Francisco-based Gymboree also operated the retail stores Gymboree Outlet, Crazy 8 and Janie and Jack. According to the Wall Street Journal, the fate of Janie and Jack is uncertain since Gymboree is still seeking a buyer for the brand. If no buyer is found, Janie and Jack stores will also be closed.

Gymboree, which was founded in 1976, filed for Chapter 11 bankruptcy in June 2017. The company reported $1.25 billion in sales for 2016. In July 2016, The Gymboree Corporation sold the Gymboree Play & Music business to Zeavion Holding.

Henri Bendel going out of business by January 2019

September 14, 2018

by Yvette Thomas

L Brands Inc.—the parent company of luxury retailer Henri Bendel and lingerie retailer Victoria’s Secret and beauty retailer Bath & Body Works—has announced that it is permanently shuttering Henri Bendel by January 2019. All 23 Henri Bendel stores, as well as Henri Bendel’s online business, will be closed. Employees have been given a choice to interview for other L Brands jobs or accept severance pay. Henri Bendel had been in business since 1895. The flagship Henri Bendel on Fifth Avenue in New York City opened in 1913.

According to Marketwatch, L Brands stock rose 5.58% after it was announced that Henri Bendel was going out of business. Marketwatch also reports: “Henri Bendel’s 2018 revenue to total $85 million and its operating losses to total $45 million. L Brands stock is down more than 52% for the year so far while the S&P 500 index SPX, +0.03% is up 8.6% for the period.”

L Brands reported $12.6 billion in revenue for 2017, so Henri Bendel’s shuttering represents a small fraction of the L Brands’ business. However, Victoria’s Secret has reportedly been struggling and is on industry watch lists as a retailer that could be in big trouble by the year 2020.

Henri Bendel is one of many fashion retailers that have been experiencing massive closures in 2018.

Nordstrom announces two week anniversary sale July 20 to August 5, 2018

July 16, 2018

The following is a press release from Nordstrom:

Mark your calendars for the one-of-a-kind Nordstrom Anniversary Sale launching this Friday, July 20 in the U.S. and Canada. The Nordstrom Anniversary Sale is the retailer’s biggest sale event of the year featuring brand-new arrivals at super-sales prices for two weeks only – July 20 through August 5 – prices go back up on August 6.

WHAT SETS THE ANNIVERSARY SALE APART?

Every July, Nordstrom brings in deals on the best brands, hottest trends, and everyday essentials for women, men and kids. There’s something for everyone in every category including clothing, shoes, accessories, home and beauty, in a range of buy now/wear now, back-to-school and fall fashion.

Women can shop brands like Topshop, Tibi, Alice + Olivia, Theory, MCM, Veronica Beard, Nike, Stuart Weitzman, Charlotte Tilbury and more, as well as Rag & Bone, Frame Denim, Madewell, J. Crew, and Good American in more sizes than ever before. For men, featured brands include Levi’s, Ted Baker London, Theory, Bonobos, Topman, Rag & Bone, Adidas, To Boot New York and more. The Anniversary Sale also features special deliveries from Nordstrom exclusive brands Treasure & Bond, Halogen, 1901 and Zella.

“This event gives us the opportunity to deliver a one-of-a-kind experience for our existing customers who love the Anniversary Sale, as well as introduce new customers to Nordstrom through an inspiring offering of new product from great brands at incredible values,” said Pete Nordstrom, Nordstrom Co-President.

BEAUTY EVENTS

Nordstrom will host an Anniversary Sale Beauty Bash event on Saturday, July 21 in all U.S. and Canada stores, featuring access to 450+ beauty exclusives, complimentary beauty consultations and applications, and a free limited-edition Nordstrom tote with a $125 cosmetics purchase.

Glam-Out Days are taking place in stores daily throughout the sale where customers can enjoy free samples, gifts with purchase and expert tips from brands including MAC, Clarins, Chanel, Estée Lauder, Lancôme La Mer, Bobbi Brown, Jo Malone, Kiehl’s Since 1851, Clinique, Dior, and Laura Mercier.

‘SHOW US HOW YOU #NSALE’ SWEEPSTAKES

Enter to win a $500 Nordstrom Gift Card! We want to hear from you! Post a photo or video to Instagram, Twitter or online using #nsale and #sweepstakes and tag @nordstrom showing how excited you are about the Anniversary Sale. Five winners will be selected at random and entries will be featured on Nordstrom.com and @Nordstrom social channels. No purchase necessary. See official rules for details.

ANNIVERSARY INFLUENCERS

Nordstrom partnered with four fashion-savvy comedians to serve as Anniversary Sale campaign influencers: Liza Koshy, multi-hyphenate entertainer: actress, Double Dare host and star of Liza on Demand; Daniel Levy, writer, producer & Schitt’s Creek actor; Phoebe Robinson, 2 Dope Queens comedian, New York Times bestselling author, and actress; and Hannah Simone, New Girl actress. Videos and interviews with the influencers are available at blogs.nordstrom.com/fashion; Nordstrom.com/anniversaryearlyaccess and nordstrom.com/anniversarysale.

PRO SHOPPING TIPS

Nordstrom offers convenient services for customers to make their Anniversary Sale shopping experience fun, easy and on their terms:

TRUNK CLUB

For the second year, customers can also shop Anniversary Sale merchandise at one of Trunk Club’s six Clubhouses in New York City, Chicago, Los Angeles, Boston, Dallas, and Washington, D.C. Following a consultation, a Trunk Club personal stylist will pull a selection of clothing based on the customer’s size, style and spending preferences. To learn more or to schedule an appointment, visit TrunkClub.com.