Time has apparently run out for Kenneth Cole Productions Inc.’s 17,000-square-foot Rockefeller Center flagship in New York.
The company confirmed last week that the unit would close before April, along with eight other full-price stores.
The New York-based maker of contemporary apparel, footwear and accessories said it would provide details on the impact of the closures in its fourth-quarter earnings call on March 1.
Kenneth Cole has talked about shuttering its Rockefeller Center store for several quarters, but last week’s news confirmed there will be an opening in one of retail’s most coveted spaces. The Kenneth Cole store is situated just across from Saks Fifth Avenue in a tourism hot zone.
Speaking at the ICR XChange Conference in Dana Point, Calif., Thursday, Jill Granoff, chief executive officer of Kenneth Cole, cast the issue in dollars-and-cents terms. “We are committed to getting our full-priced chain profitable,” she said. “We will also continue to look at opportunities to reduce overhead where we think we have the opportunity to be linear and more nimble.”
The locations of the other stores scheduled for closure weren’t disclosed. Reports also have placed the company’s store at East 57th Street and Lexington Avenue in New York as being up for grabs.
The firm said last year it closed eight full-price stores, in line with the five to 10 unprofitable stores it anticipated shuttering.
Currently, Kenneth Cole operates 170 stores worldwide, 100 of which are in the U.S.
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