Following the announcement that Saks Fifth Avenue is shutting its women's store at Brookfield Place downtown in New York on 5 January, two other major flagships are closing this month: Lord & Taylor and Gap.

Lord & Taylor has shut down its historic flagship on 2 January. WeWork should take possession of the 650,000-square-foot, 11-story property sometime in January and convert it to its global headquarters and shared offices, along with transforming the lower, main and second floors for new retailing.

Gap will close its three-level flagship at 680 Fifth Avenue on 20 January, after being on the site since 1997. The move is part of the specialty chain's massive streamlining that involves hundreds of stores worldwide that don't fit the "vision for the future of the Gap brand specialty store […]" as Gap Inc. chief executive officer Art Peck said.