Offbeat Henri Bendel, 123-year-old luxury retailer, closes its doors
The next recession could kill J.C. Penney
The department store is struggling even as consumers open their wallets. When those wallets slam shut, the iconic retailer will be in big trouble.But you wouldn't know it looking at J.C. Penney's results. The department store reported abysmal second-quarter numbers, featuring a massive loss and extremely sluggish comparable sales growth. Its full-year guidance was slashed, and the stock unsurprisingly plunged.
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The luxury retailer Henri Bendel, which opened its doors in New York's Greenwich Village at the end of the 19th century, is closing.
L Brands, which acquired the brand in 1895, said that the 23 Bendel stores will turn out the lights in January. The Columbus, Ohio, company said it wants focus on larger brands with more growth potential.
Henry Bendel was a women's hat maker from Lafayette, Louisiana. He moved to New York in 1895 and began catering to the city's elite, making the stores' brown and white striped shopping and bags and hat boxes a coveted status symbol. In the 1960s, its in-house illustrator was a young artist named Andy Warhol.
The company's flagship store on New York's 5th Avenue, steps away from Trump Tower, is a landmark in Manhattan.
Walmart says new batch of Trump tariffs could force price hikes on bikes and Xmas lights .
Walmart wrote a letter to the U.S. Trade representative, that warned new tariffs on China imports would raise prices for U.S. consumersThe world's largest retailer delivered the message in a letter dated Sept. 6 to the office of the U.S. Trade Representative. In it, Walmart joined other industry players in sounding an alarm that American shoppers will suffer the most if another batch of levies is imposed on goods and parts bought from China.