L Brands to Close All 23 Henri Bendel Stores in January -- Update
September 13 2018 - 6:10PM
Dow Jones News
By Josh Beckerman
L Brands Inc. (LB) said Thursday it will close all 23 Henri
Bendel stores in January, a move intended to help the company focus
on its larger brands with more growth potential.
L Brands, which owns Victoria's Secret and Bath & Body
Works, estimates that Henri Bendel will have revenue of about $85
million this year.
Henri Bendel, which sells handbags, jewelry and accessories,
traces its roots to a Greenwich Village store that opened in
1895.
In 1985, the company then known as The Limited bought Henri
Bendel. It tried unsuccessfully to expand the Bendel concept in the
late 1990s. The chain at one point was down to one New York store
but it grew again in the late 2000s.
In after-hours trading, L Brands shares rose 20 cents.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 13, 2018 18:55 ET (22:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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