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"Could downsizing be the new black?" writes a Racked correspondent, who sends word that the Banana Republic women's store at 550 Broadway in Soho has shut down. It's moving into the BR men's shop down the block, at the corner of Spring (no. 528). We're guessing that parent company Gap considers two stores sitting practically next to each other on a pricey stretch of Broadway a luxury they can't afford right now. Both sites are now shuttered, with a re-opening set for May 1st.
· Now Open: American Apparel's Stolen Banana [Racked]