REAL ESTATE

Tiffany to open SoHo store in 2012

BY Katherine Boccaccio

New York City — Tiffany & Co. said Thursday it plans to open a store in New York’s SoHo neighborhood in September 2012.

The 7,000-sq.-ft. store will occupy a space that combines two locations — 97 Greene Street and 106 Wooster Street.

The 2012 opening corresponds to Tiffany’s 175th anniversary of its founding on Lower Broadway in the 1850s.

“Opening a store in the neighborhood where Charles Lewis Tiffany developed his growing enterprise is a wonderful way to celebrate our anniversary,” said Beth O. Canavan, executive VP of Tiffany & Co.

Tiffany’s new SoHo store will be the jeweler’s third location in New York City.

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OPERATIONS

Report: Consumer confidence remains at second-lowest level of 2011

BY Katherine Boccaccio

Washington, D.C. — A report released Thursday by Bloomberg said that U.S. consumer confidence held last week at the second-lowest level of 2011 as the highest number of households in three years said it was a bad time to spend.

The Bloomberg Consumer Comfort Index was minus 49.3 in the period to Sept. 11, near the 2011 low of minus 49.4 reached in May. The buying climate gauge slumped to the lowest level since October 2008.

According to the report, the majority — nine out of 10 — of Americans polled had a negative view on the economy.

The consumer comfort gauge has been stuck below minus 40 — the level associated with recessions or their aftermath — since the end of February. It has averaged minus 45.4 this year, compared with minus 45.7 for 2010 and minus 47.9 in 2009, the year the last recession ended, according to the report.

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OPERATIONS

Gap vet named Frederick’s of Hollywood president

BY Staff Writer

New York City — Frederick’s of Hollywood said Wednesday it has named former Gap executive Don Jones as its president and COO. He will be charged with helping to revitalize the Frederick’s Hollywood brand on an international scale.

Jones, most recently a retail consultant, was senior VP of stores and operations for Gap, where led the rollout of the Gap Body line.

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