Henri Bendel to close Somerset Collection store

Henri Bendel to close all stores after 123 years in business

Henri Bendel Stores To Close By January

The brand will shut down its website and all 23 stores in January 2019, so yeah, stock up while you can.

In August the company lowered its earnings forecast due to sluggish sales, partly a result of the spread of online shopping. These include Victoria's Secret, PINK and Bath & Body Works.

"We have chose to stop operating Bendel to improve company profitability and focus on our larger brands that have greater growth potential", CEO Leslie Wexner said in a company statement.

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L Brands operates 3,084 company-owned specialty stores in the United States, Canada, the United Kingdom and China. (As of 1:30 p.m. ET, the stock was up almost 5 percent to $28.80.) Bendel accounted for just $85 million of L Brands' $12.6 billion revenue in 2017. "I want to thank our Bendel associates for their dedication to this iconic brand and to our loyal Bendel customers".

L Brands on Thursday announced the closure of all 23 stores and the e-commerce site of its upscale Henri Bendel women's apparel banner, which has been open for 123 years.

We visited the flagship store on Fifth Avenue and saw how the store closing represents a new era of retail.

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L Brands CEO and Chairman Leslie Wexner is no stranger to cutting his losses when it comes to apparel retail, having sold off his first endeavor, The Limited, in 2007 after 44 years in business.

There are 23 Henri Bendel stores, include the company's Fifth Avenue store in NY as well as smaller-format stores in 11 states.

L Brands shares closed Friday at $28.97, up $1.53, or 5.6 percent.

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