Why retailers are fleeing Fifth Avenue - News Summed Up

Why retailers are fleeing Fifth Avenue


Gap ( GPS ) also said over the holidays that it was on its way out, and Versace is reportedly looking to leave Fifth Avenue, too. The Gap is shuttering hundreds of stores as part of a broad overhaulGap's Fifth Avenue store will close on January 20, 2019. Tiffany's ( TIF ) classic Fifth Avenue store is undergoing a three-year renovation. Retail chaos in Midtown Ralph Lauren: 711 Fifth Avenue (closed in 2018) Lord & Taylor: 424-434 Fifth Avenue (closing January 2019) Henri Bendel: 712 5th Avenue (closing January 2019) Gap: 680 5th Avenue (closing January 2019) Calvin Klein: 654 Madison Avenue (closing spring 2019)Nike ( NKE ) opened a six floor, 68,000-square-foot "House of Innovation 000" on Fifth Avenue in November after shuttering its old Niketown store. "A new idea like Allbirds that is trying to develop the local American market would have no business spending all their money on Fifth Avenue," Serdari said.


Source: CNN January 12, 2019 12:56 UTC



Loading...

Loading...