Barneys Closing Two Stores

Earlier in the week, I blogged about Filene's Basement seeking Chapter 11, and it seems that hard times are hitting the other end of the shopping spectrum as well.  The Wall Street Journal reported yesterday that high-end retailer Barneys is likely to close two of its seven department stores as wealthy consumers cut their spending (page B1). 

The store most likely to close is Barneys 85,000-square-foot store at the Shoppes at the Palazzo in Las Vegas.  The company expected to generate $6 million a month in sales there, but since last fall, it has only seen about a quarter of that amount realized.      

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