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The US could see 20,000 to 25,000 store closures as coronavirus-spurred joblessness and sheltering in place have decimated brick-and-mortar retail sales, according to stats released Tuesday. Coresight Research’s data also indicate that 55 percent to 60 percent of the unlucky retailers reside in malls. It’s sobering news for physical retailers of all locations, given that …
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The Neiman Marcus store at Hudson Yards is being eyed for office space. Opened barely a year ago at the swanky mega mall it anchored on Manhattan’s West Side, the bankrupt luxury retailer is considering closing the store for good while its landlord shops the three-story, 188,000-square-foot space to office tenants, according to reports. Related …
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Macy’s said on Tuesday its 450 reopened stores were performing better than expected, giving some respite for the department store chain that reported nearly $1 billion in quarterly operating losses due to COVID-19 lockdowns. The company’s shares rose 12 percent in premarket trading, a day after Macy’s said it had raised $4.5 billion to navigate …
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In the book of Genesis, God agreed not to destroy Sodom if Abraham could find 10 righteous people there. Abraham failed, and God wiped the city from the face of the earth. More recently (and much less importantly), my friend and former Foundation for Economic Education president Larry Reed issued a similar challenge: He asked …
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It was 1974. Jack Teich. Kidnapped at his LI home. The $750,000 ransom (equal to today’s $4 mil) never fully recovered — although now he has. I know Jack Teich. He’s my friend lawyer Barry Slotnick’s friend, and he’s now out with just-published “Operation Jacknap: A True Story of Kidnapping, Extortion, Ransom, and Rescue.” Why …
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He did the protest thing. Spike Lee joined hundreds of George Floyd protesters in Brooklyn on Sunday afternoon, telling The Post that he’s “gotta represent.” “Fort Greene, Baby! Fort Greene! Gotta represent,” the “Do the Right Thing” director said as he rode with other cyclists in front of a crowd. Lee, 63, was spotted around …
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When you dine at Chipotle, you have more choices than kings had a century ago. 1. For about $10, you gain access to an entire kitchen of gourmet chefs, who work with only the finest cuts of protein and veggies. To produce a similar burrito without Chipotle would require raising your own cows, avocados, poultry, …
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Protesters gathered on Friday at the Academy of Motion Picture Arts and Sciences to support the Black Lives Matter movement. The protest comes one day after David Oyelowo, who starred in the 2014 best picture nominee “Selma” as Dr. Martin Luther King Jr., revealed that Oscar voters were angered by the cast wearing T-shirts that …
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Fashion and beauty brands are stepping up to the plate and supporting Black Lives Matter. While many have posted messages of support amid the global protests following the deaths of George Floyd and Breonna Taylor, activists and fans are calling on companies to put their money where their mouth is. See below for a list …
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The nation’s biggest mall operator is suing its largest tenant for not paying rent during the pandemic in what could be the beginning of a torrent of litigation over rent payments. Simon Property is suing the owner of Banana Republic, Old Navy and The Gap for $66 million in back rent and other charges related …
The US could see 20,000 to 25,000 store closures as coronavirus-spurred joblessness and sheltering in place have decimated brick-and-mortar retail sales, according to stats released Tuesday. Coresight Research’s data also indicate that 55 percent to 60 percent of the unlucky retailers reside in malls. It’s sobering news for physical retailers of all locations, given that …
