Are Department Stores Making A Comeback?

Lord and Taylor

Photo: bitchcakesny / flickr

Given the market’s current preference for discount retailers and luxury stores, it’s good to hear about a mid-market department store chain expanding.Lord & Taylor will reportedly open at least three new stores in the coming months.

The New York Post writes that:

The privately owned retailer, which also operates three lower-price outlet stores, is in preliminary talks with landlords to open still more locations during the next several years in additional states, including California, according to sources close to the company.

This is particularly good news given that only five years ago, the retail industry seemed ready to write Lord & Taylor off as a living ghost. Yet after undergoing a makeover, the chain seems to have found new vitality.

This fits in with the overall trend of department stores coming back into favour, along with regional malls.

This post originally appeared at RetailTraffic.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.