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