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Warby Parker takes Upper East Side location
New York — Warby Parker, the hip eyeglass brand, has leased the iconic retail space on the southeast corner of the intersection of Lexington Avenue and 82nd Street in the Upper East Side.
Winick Realty Group (www.winick.com) represented the landlord Samy Mahfar of SMA Equities in the transaction. Thor High Street Advisors represented Warby Parker.
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Weather, promotions hurt Cato Q4 net income; 64 new stores planned
Charlotte, N.C. – The Cato Corporation cited weather, holiday promotions and a 53rd week in fiscal 2012 as impacting its net income during the fourth quarter of fiscal 2013. The retailer also said it plans to open 64 new stores and close 17 existing stores during fiscal 2014.
Net income fell 52% to $3.8 million from $7.9 million in the same period the prior year, within previously announced guidance range, while sales dropped 7% to $215.2 million from $232 million.