And the latest retailer to expand off-price is ...

It seems as though off-price is one of the few bright spots in traditional retail these days, so it's no wonder that Hudson’s Bay Company is adding another off-price concept to its portfolio.



The company announced it is launching Find @ Lord & Taylor, a new off-price concept catering to a younger demographic and delivering on-trend, in-season product at value prices. Opening its first store in Paramus, New Jersey, in November, Find @ Lord & Taylor will launch first mainly in the Northeastern United States, with six additional store openings planned for 2016.



“Off-price continues to be a key driver of HBC’s growth strategy, and we are thrilled to expand this business with the introduction of our newest concept,” stated Jerry Storch, CEO, Hudson’s Bay Company. “We see significant opportunity for expansion and remain committed to investing in this sector through new store opening and developments. We believe Find @ Lord & Taylor will be a great entry point to introduce the Lord & Taylor brand to new consumers.”



Find @ Lord & Taylor stores will average 30,000 sq. ft., offering a compelling assortment of women’s, men’s, and kids’ apparel and footwear, with a fun, easy-to-shop experience. Unlike other HBC Outlets, Find @ Lord & Taylor will also offer an expanded Home selection. By combining the best in brands with outstanding value, shoppers will enjoy fresh and distinct apparel and home fashion offerings from leading brands at savings of up to 70% off.



“We believe we have the right mix of compelling price points, new locations and easy-to-shop store formats to target a new demographic of shoppers,” said Jonathan Greller, president of Outlets, Hudson’s Bay Company. “Our goal is to offer our consumers an exciting merchandise mix at impressive prices.”



Find @ Lord & Taylor is part of HBC’s Outlet Division, along with Saks Fifth Avenue Off 5th. For more information, visit findlt.com. HBC’s portfolio today includes eight banners, in formats ranging from luxury to better department stores to off price, with more than 460 stores and 65,000 employees around the world.