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Scoop begins liquidation sale

Retail

Scoop begins liquidation sale

By Kristopher Fraser

May 9, 2016

Last week, Scoop closed their SoHo flagship store. At the time, the company was evaluating the future direction of their remaining stores. It seems like we might be bidding farewell to Scoop, as the chain begun their liquidation sale this weekend.

Scoop executives were not available to comment on this issue, but a visit to the their Third Avenue store location between 73rd and 74th streets let you know that all merchandise was now 10 percent off, except for hats and boots which were 30 percent off. The sale is expected to continue until everything is sold out, at which point the store will close. Scoop.com is also doing the 10 percent off promotion.

Over in downtown Manhattan, Scoop's Brookfield Place and Meatpacking District locations also had the same promotion as their Upper East Side store. The company's other stores located throughout the U.S. have the same promotion as well.

While Scoop has seen excellent sales margins in excess of 46 percent, the high retail rents were impossible for them to keep up with. Most of their leases were signed back when retail rents were lower.

Scoop became famous for being one of the few retailers who offered high-end contemporary brands, but they have since lost ground in that arena to major department stores like Nordstrom, Macy's, and Bloomingdale's. In a competitive retail environment, the retailer could no longer keep up.