The number of riders using the 59th Street stop has been declining for years now. Since 2014, it’s down more than 50 percent. The lockdowns, coupled with the unhurried return of office workers, only served to exacerbate that downturn.
Paring costs is increasingly important as e-commerce becomes more popular and accounts for a larger part of revenue.
Data from Coresight Research shows store openings are outpacing store closings so far this year. Retail brokers hope leasing trends will stay strong.
Prices for gasoline and other commodities have declined, offering some hope that inflation is cooling, but bread could stay elevated longer.
Sephora’s exit comes as European and US sanctions on the country have made operations in Russia increasingly complex. It joins Nike Inc. which also said last month that it was leaving Russia.