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Henri Bendel to Close After 123 Years

It’s the end of an era for Henri Bendel.
The upscale retailer is closing, parent company L Brands Inc. announced today.
L Brands, which acquired Bendel in 1985, unveiled plans to shut down the brand’s website and 23 locations by January. Bendel opened its doors in New York’s Greenwich Village in 1895, expanding into its current Fifth Avenue flagship in 1913.
Sluggish sales led to its decision to shutter the Bendel business, L Brands said. The conglomerate noted that it now intends to focus on other brands with a larger growth potential (its roster includes Bath & Body Works and Victoria’s Secret).
“This decision is right for the future growth of our company, but not easy because of the impact to our L Brands family,” L Brands CEO Leslie Wexner said in a statement. “I want to thank our Bendel associates for their dedication to this iconic brand and to our loyal Bendel customers.”
The news sent L Brands shares up by 4 percent, potentially signaling a turning point for the retailer, which has seen its stock tumble 55 percent year-to-date. (As of 1:30 p.m. ET, the stock was up nearly 5 percent to $28.80.) Bendel accounted for just $85 million of L Brands’ $12.6 billion revenue

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Via:: https://footwearnews.com/2018/business/retail/henri-bendel-closing-l-brands-1202676829/