Countries: United States
Los Angeles, CA, December 18, 1997 - Westfield America, Inc. (NYSE: WEA) announced today that The May Department Stores Company's Lord & Taylor division has agreed to open new anchor department stores in three Westfield shopping centres.
Lord & Taylor stores will be added to South Shore Mall in Bayshore, New York, Annapolis Mall in Annapolis, Maryland, and Meriden Square, Meriden, Connecticut. Richard Green, President of Westfield America, Inc. stated, "We are very excited about the entry of Lord & Taylor into these centres. The addition of the Lord & Taylor stores will allow us to broaden our customer base and enhance already successful centres".
- South Shore Mall is a 103,000 square metre super regional centre serving southern Suffolk County, Long Island. The centre currently has three anchors, Macy's, J C Penney and Sears, with 120 specialty stores. Sears recently opened in September, and the centre has been totally renovated. The Lord & Taylor store will be 11,100 square metres over two levels. Construction will begin in early 1998 for a planned late 1998 opening.
-Annapolis Mall is a 92,000 square metre super regional centre serving Maryland's capital and Washington DC markets. The centre has four current anchors, Hecht's, Nordstrom, J C Penney and Montgomery Ward's, with 150 specialty stores. Lord & Taylor will be a two-level 11,100 square metre store. Also 1,100 square metres of specialty stores will be added to the mall, with construction to begin in early 1998 for a planned late 1998 opening.
- Meriden Square is a 69,400 square metre regional shopping centre serving southern Hartford County and northern New Haven County, Connecticut. The centre has three anchors, Filene's, J C Penney and Sears, with 113 specialty stores. Lord & Taylor will be a one-level 9,300 square metre store, and 6,500 square metres of specialty stores will be added to the mall. Construction is expected to begin in mid 1998 for a planned late 1999 opening. "With these three new stores, we strengthen our ties to states that have already been an important part of our growth", said Marshall Hilsberg, Lord & Taylor's Chairman and Chief Executive Officer. "By expanding our presence, we have the opportunity to welcome new customers to the Lord & Taylor tradition of fashion, quality, value and service".
Founded in 1826, Lord & Taylor is America's oldest specialty department store. In the early 1940s, it was the first major retailer to recognise and support American fashion talent, and it continues to be considered the "Signature of American Style".
Lord & Taylor operates 63 department stores in 17 states and the 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 1996 sales were US$11.6 billion.
Westfield America, Inc., a real estate investment trust, is one of the leading owners of regional shopping centres in the United States. Westfield America, Inc.'s most recent acquisition, Northwest Plaza in St Louis, Missouri, was completed on 16 December 1997. The 162,000 square metre super regional centre is Westfield America, Inc.'s fourth major regional shopping centre in the St Louis market. The company owns 24 major shopping centres in 10 metropolitan areas in the states of California, Colorado, Connecticut, Maryland, Missouri, New York and Washington.
Westfield Group