Lord & Taylor to close, Planet Fitness to open at N.J. mall – NJ.com

Lord & Taylor plans to close, while popular discount gym Planet Fitness will open next year at the Moorestown Mall.

Hudson’s Bay Company sold Lord & Taylor in late August for $75 million to Le Tote, Inc., a San Francisco-based clothing subscription service. Le Tote, Inc. says it will acquire 38 additional Lord & Taylor stores, along with its e-commerce operations. There are currently 12 New Jersey locations.

“Following an extensive review of strategic alternatives, Le Tote’s leadership and innovative approach is the best path forward for Lord + Taylor, its loyal customers and dedicated associates,” HBC’s CEO, Helena Foulkes, said in a statement.

A closing date has not yet been announced.

Meanwhile, Planet Fitness — known for its $10-per-month membership fees — is set for a Spring 2020 opening at the Moorestown Mall. It is expected to occupy more than 23,000 square feet, according to a statement.

Planet Fitness has more than 1,800 gyms worldwide and is ranked No. 58 on Fortune magazine’s 2019 100 Fastest-Growing Companies list.

“Gym-goers today are focused on the fitness journey — they’re not just going to the gym, but buying attire that suits their athletic style and seeking healthier eating alternatives,” Joseph F. Coradino, CEO of PREIT, said in a statement. “We want to provide local consumers with more reasons to choose the mall as their go-to destination for activities that suit their lifestyle.”

PREIT also owns and operates the Cherry Hill Mall in Cherry Hill and the Cumberland Mall in Vineland.

Nicolette Accardi can be reached at [email protected]. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips

Original »

Comments
Loading...