Hudson’s Bay plans Lord & Taylor discount fashion chain in United States

TORONTO – Hudson’s Bay Co. is bringing a new discount fast fashion option to the United States.

The Canadian department store chain operator says it hopes to attract young shoppers on the hunt for cheap and trendy threads with Find @ Lord & Taylor.

The offshoot of its Lord & Taylor department store chain will stock name brands at prices that will be reduced by as much as 70 per cent.

Styles hot off the runway have been soaring in popularity over the past decade, led by European low-priced chains like H&M and Zara.

As those companies rapidly expand into smaller markets, they’ve attracted more people who might have once spent their money at department stores.

Hudson’s Bay Co. (TSX:HBC) says its new Find @ Lord & Taylor stores will offer a selection of women’s, men’s and kids apparel, as well as footwear and home furnishings.

“Off-price continues to be a key driver of HBC’s growth strategy, and we are thrilled to expand this business with the introduction of our newest concept,” said president and CEO Jerry Storch in a statement Monday.

“We see significant opportunity for expansion and remain committed to investing in this sector through new store opening and developments.”

Find @ Lord & Taylor will open its first location in Paramus, N.J., next month, with another five stores planned for 2016.

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