NEW YORK -- Jaeger closed its store at 19 East 57th St. on Saturday.
The company occupied the two-level, 3,500-square-foot space in the five-level building for 10 years. Asked why Jaeger decided to close the unit, Lori Kennedy, store manager, said the lease expires this month and the building was sold to a new tenant, which she would not name.
"We finished up well," Kennedy said. "Business hasn't been bad."
In its final days on 57th Street, Jaeger ran a 50-percent-off sale. Leftover merchandise will be transferred to Jaeger's other store at 818 Madison Ave., at 68th Street, and to outlets.
There have been murmurings that upscale apparel retailing along 57th Street has been weak, in part due to the recent influx of tourist-oriented businesses such as the Warner Bros. Studio Store and Planet Hollywood restaurant. In addition, Nike, which appeals to the masses, wants to move into the neighborhood.
There has also been some construction. Chanel is building a new site at 15 East 57th St. However, store manager Kennedy said the construction "didn't affect our business." She said, "We had a decent season."
Ann Taylor, which has also been looking for a new site for its flagship, was reported to be negotiating for the Jaeger space, but Sally Frame Kasaks, Ann Taylor's chairman and chief executive, said it would not move into that site.
Ann Taylor's current flagship store at 3 East 57th St. will close in February 1995. In the spring, Levi Strauss will move into the space with an Original Levi's Store.
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