New York City Forever 21 plans to open its largest location to date, a 91,000-sq.-ft. flagship in Manhattan’s Times Square. The store will be housed in the space currently occupied by Virgin Megastore.
The massive Virgin outlet is expected to close in April. Its closing will leave only one other Virgin store in the Big Apple, in Union Square.
Virgin Entertainment Group CEO Simon Wright told The New York Times that the store remained "very, very profitable," in spite of the growing popularity of downloaded music over the Internet.