Lord & Taylor is the oldest surviving department store in the United States, in business since 1826.
On June 22, 2006, NRDC Equity Partners, LLC announced it would purchase Lord & Taylor for $1.2 billion after Federated converted and sold the previously announced locations; the sale was completed in October 2006. Federated continued to service Lord & Taylor consumer credit accounts in an agreement with NRDC under the terms of its sale until mid-2007.
On July 16, 2008, NRDC Equity Partners announced that it had purchased the 338-year-old Hudson’s Bay Company (HBC) for an undisclosed price, with the intention of expanding internationally and positioned Lord & Taylor under HBC. HBC committed to spending an additional $250 million upgrading stores. In February 2019, the sale completed for $725 million in cash and the remainder in equity, forming a joint venture with Lord & Taylor as minority owners.