ABC Carpet & Home Closing Another Store In New York
In yet another indication of the rapidly changing retail landscape, ABC Carpet & Home is closing its second store in the city.
The carpet-focused store at 881 Broadway will close in January, the New York Post reports.
The store will move into a floor at the retailer’s furniture-selling flagship across the street at 888 East 19th St. The company agreed to sell four of six floors at that East 19th Street location to Normandy Real Estate Partners in February. Normandy and ABC are planning on converting those four floors into offices.
“We have been consciously right-sizing the business and being responsive to New York real estate and the online phenomenon,” Paulette Cole, who has run the business since taking it over from her father, who had run it since the 1960s, told the New York Post.
ABC Carpet will still control around 80K SF of that building, and will develop its online approach from there, Cole told the newspaper.
Retailers around the world are making changes to meet shoppers' demands. Target, which announced another location in the city this week near Columbus Circle, is rolling out a small-concept store strategy in urban markets.
Many retailers are trying to incorporate experiential stores within in their locations, in order to lure buyers out from the hold of e-commerce.
