Henri Bendel closing: Small piece of bigger problem at L Brands

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In a statement, L Brands said all 23 locations will close in January 2019 as part of a bid to improve company profitability and focus on larger brands with greater growth potential.

The brand's parent company, L Brands, announced Thursday that it was shuttering the operation because of poor sales numbers.

"I want to thank our Bendel associates for their dedication to this iconic brand and to our loyal Bendel customers".

Henri Bendel opened his first store in 1895 in Greenwich Village in NY, selling clothing, fragrances, cosmetics and handbags and he created the store's iconic brown-and-white bag.

L Brands Inc., which acquired the brand in 1985, said that the 23 Bendel stores will turn out the lights in January.

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L Brands' flagship brands include Victoria's Secret and Bath & Body Works. It is in the process of estimating costs associated with closing Henri Bendel. Last year, the company reported total revenue of $12.6 billion.

The store's namesake founder was a women's hatmaker from Louisiana who set up shop in NY in 1895. After all, as the brand's website states, Bendel was the first luxury retailer with an upper Fifth Ave. address, which spurred a whole new world for fashion.

The company cut its full-year earnings forecast in August, blaming falling demand for its PINK line of lingerie amid competition from brands such as American Eagle Outfitter's Aerie.

"We are committed to improving performance in the business and increasing shareholder value".

If you need us, we'll be purchasing all the Bendel accessories we can.

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