HRC Advisory President Farla Efros is interviewed by CNBC.com for insight on how an outlet mall can change the retail landscape of New York City.
CNBC.com published an article today detailing the plans for New York City's first outlet mall located on Staten Island. The Empire Outlets will open next year and already has commitments from Nordstrom Rack and Banana RepublicFactory. Department and specialty stores have been struggling to achieve sales growth while off-price retailers such as TJX saw their revenue jump 6 percent last quarter. HRC Advisory President Farla Efros met with reporter Krystina Gustafson to provide insight as to how the outlet mall plans to attract cash-strapped New York City citizens. Efros talks about how the strategy for these outlet malls must be clearly defined or problems will arise. Read the full article below.