Since When Do SoHo Retailers Shut Their Doors For Inventory Counts?

I used to be an external auditor at KPMG, and was the only person {that I know of} who loved retail inventory counts.  During my year and a half, I performed inventory counts at:  Madewell (SoHo), Adidas (SoHo), Equinox (Upper East), DCH Toyota (NJ), and Zara USA.

One of the lessons you learn about inventory counts is that for retailers, it makes the most sense to perform them when the store is closed.  Usually this means on holidays, overnight, or very early.

I was strutting in SoHo and noticed two retailers who shut their doors during the day for inventory: Reed Krakoff and Band of Outsiders.

Reed Krakoff is a luxury retailer which sells handbags starting at $500.  The boutique opened in January 2015 and they have personal stylists that are trained to find “pieces and looks that embody the neighborhood’s downtown vibe.”

The racks of clothing were empty today – for a second I thought they went out of business before they had been here for 6 months, but was relieved to know it was just due to an inventory count.

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While outside of Band of Outsiders, there were people scarfing down ice cream and cookies from Momofuko Milkbar.  You could hardly tell that the store was empty, also for an inventory count:

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With the high cost of rent, I am surprised that retailers would shut their doors for an entire day.  It would make most sense to do this overnight.  I have never noticed this in the neighborhood…maybe its always been the case.