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Barneys New York will close its 88,000-square-foot store at the NorthPark Center in Dallas in early April.
This story first appeared in the October 9, 2012 issue of WWD. Subscribe Today.
There has long been speculation that the Dallas store, along with units in Scottsdale, Ariz., San Francisco and Las Vegas, don’t perform as well as Barneys’ flagship on New York’s Madison Avenue, and units in Beverly Hills, Seattle and Chicago.
Chief executive officer Mark Lee said in May that Barneys would not be closing any stores. However, on Monday, workers at the Dallas store were given the news and the company issued a statement: “After careful consideration, Barneys New York has exercised its contractual right to terminate the lease for its Dallas location prior to its expiration. The store will remain open through early April. Barneys’ operational and financial performance is strong and we remain focused on investing in our flagship stores across the country as well as Barneys.com. As always, we are committed to our loyal customers and enhancing the Barneys experience.”
Barneys opened its Dallas unit in fall 2006.
The retailer said it’s planning to continue renovations to the New York flagship, which has undergone extensive renovation in the past two years. The sixth floor of the Madison Avenue store will become a luxury ready-to-wear floor for men’s and women’s. The new men’s ground floor will be completed in May. For the first time in 20 years, the Beverly Hills flagship will undergo renovations next year.