Westfied America, Inc. announces Lord and Taylor to add stores to the shopping centres
19 December 1997
Countries: United States
Los Angeles, CA, December 18, 1997 – Westfield America, Inc.(NYSE: WEA) announced today that The May Department StoresCompany’s Lord & Taylor division has agreed to open new anchordepartment stores in three Westfield shopping centres.
Lord & Taylor stores will be added to South Shore Mall inBayshore, New York, Annapolis Mall in Annapolis, Maryland, andMeriden Square, Meriden, Connecticut. Richard Green, President ofWestfield America, Inc. stated, “We are very excited about theentry of Lord & Taylor into these centres. The addition of theLord & Taylor stores will allow us to broaden our customer baseand enhance already successful centres”.
– South Shore Mall is a 103,000 square metre superregional centre serving southern Suffolk County, Long Island. Thecentre currently has three anchors, Macy’s, J C Penney and Sears,with 120 specialty stores. Sears recently opened in September, andthe centre has been totally renovated. The Lord & Taylor storewill be 11,100 square metres over two levels. Construction willbegin in early 1998 for a planned late 1998 opening.
–Annapolis Mall is a 92,000 square metre super regionalcentre serving Maryland’s capital and Washington DC markets. Thecentre has four current anchors, Hecht’s, Nordstrom, J C Penney andMontgomery Ward’s, with 150 specialty stores. Lord & Taylorwill be a two-level 11,100 square metre store. Also 1,100 squaremetres of specialty stores will be added to the mall, withconstruction to begin in early 1998 for a planned late 1998opening.
– Meriden Square is a 69,400 square metre regionalshopping centre serving southern Hartford County and northern NewHaven County, Connecticut. The centre has three anchors, Filene’s,J C Penney and Sears, with 113 specialty stores. Lord & Taylorwill be a one-level 9,300 square metre store, and 6,500 squaremetres of specialty stores will be added to the mall. Constructionis expected to begin in mid 1998 for a planned late 1999 opening.”With these three new stores, we strengthen our ties to states thathave already been an important part of our growth”, said MarshallHilsberg, Lord & Taylor’s Chairman and Chief Executive Officer.”By expanding our presence, we have the opportunity to welcome newcustomers to the Lord & Taylor tradition of fashion, quality,value and service”.
Founded in 1826, Lord & Taylor is America’s oldest specialtydepartment store. In the early 1940s, it was the first majorretailer to recognise and support American fashion talent, and itcontinues to be considered the “Signature of American Style”.
Lord & Taylor operates 63 department stores in 17 states andthe District of Columbia, with 1996 sales of US$1.7 billion. Lord& Taylor is a division of The May Department Stores Company,which operates 369 department stores nationwide. May Company 1996sales were US$11.6 billion.
Westfield America, Inc., a real estate investment trust, is oneof the leading owners of regional shopping centres in the UnitedStates. Westfield America, Inc.’s most recent acquisition,Northwest Plaza in St Louis, Missouri, was completed on 16 December1997. The 162,000 square metre super regional centre is WestfieldAmerica, Inc.’s fourth major regional shopping centre in the StLouis market. The company owns 24 major shopping centres in 10metropolitan areas in the states of California, Colorado,Connecticut, Maryland, Missouri, New York and Washington.