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NEW YORK -- Gucci Group is scaling back the U.S. retail operations of its money-losing Yves Saint Laurent brand.
A 2,400-square-foot YSL store at the Americana Manhasset in Manhasset, N.Y., was quietly shuttered just weeks ago. The boutique opened in 2003 as part of the Americana Manhasset's expansion. It's being replaced by an Oscar de la Renta shop.
There also is speculation Gucci Group may be considering the closure of YSL's stores on Madison Avenue in New York and at the Bal Harbour Shops in Bal Harbour, Fla.
However, a YSL spokeswoman said Monday, "We are absolutely not closing Madison Avenue or Bal...