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L Brands to close all Henri Bendel stores, website

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By Reuters
L Brands to close all Henri Bendel stores, website
FILE PHOTO: Holiday shoppers look at store windows at Henri Bendel store on 5th Avenue in New York November 23, 2012. REUTERS/Brendan McDermid   -   Copyright  Brendan McDermid(Reuters)

(Reuters) – Victoria’s Secret owner L Brands Inc <LB.N> on Thursday said it would close all 23 of its Henri Bendel stores and the Henri Bendel e-commerce website in January.

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 <AEO.N> Aerie.

The company expects Henri Bendel, which sells women’s handbags, jewellery and luxury fashion accessories, to bring in revenue of about $85 million (64.84 million pounds)for 2018. It did not provide any details on costs related to the closing of the business.

The Henri Bendel stores and the website will remain in operation through January 2019, it said.

Heri Bendel, which opened its first store in 1895 in New York’s Greenwich Village, was bought by L Brands in 1985.

(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shailesh Kuber)