Empty Stores for Retailers Near Trump Tower
Barricades line Fifth Avenue between 56th and 57th Streets in New York City outside of Trump Tower as protesters show their disapproval for President-Elect Trump and security personnel work to keep the area safe. World-famous retailers like Tiffany & Co. and Gucci are hurting because of the security increase. New York City Mayor Bill de Blasio told The New York Post that he doesn’t care how the Trump Tower traffic affects the retailers blocked by the protesters and security teams. Manhattan Borough President Gale Brewer, a board member of the Fifth Avenue Business Improvement District, condemned the mayor’s remarks and noted that she saw completely empty stores in the area, which “never happens.”
Total Retail‘s Take: The increased security and protesters are creating a huge problem at the start of the holiday season. Tiffany’s was forced to cancel its annual holiday window unveiling event, and the store's main entrance on Fifth Avenue has been closed since the election. The retail stores in the area, including Abercrombie & Fitch, Henri Bendel and Polo Ralph Lauren, bring tourists from all over the world and generate millions of dollars in taxes for the city every year. They're also paying hefty rents for their prime locations, so Mayor de Blasio might want to support them a bit more.