Manhattan's famed luxury store row Fifth Avenue is in line for a major makeover. New York City officials unveiled a plan to transform a central portion of the thoroughfare between Bryant Park and Central Park into a more pedestrian-centered boulevard. They propose doubling the size of sidewalks, reducing traffic lanes from five to three, as well as adding seating areas and hundreds of trees and planters, among other improvements.
The vision is to emulate iconic strolling and shopping boulevards such as the Champs Élysées in Paris. The plan would cost more than $350 million and be paid through a mix of public and private financing, according to Mayor Eric Adams' administration and the Future of Fifth Partnership. Officials said the project represents the avenue's first major redesign and could pay for itself in less than five years through increased property and sales tax revenue.
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STARBUCKS: The Seattle coffee giant Starbucks has reported weaker-than-expected sales in its fiscal fourth quarter, which ended Sept. 29. It also said it would suspend financial guidance for its 2025 fiscal year to give its new Chairman and CEO, Brian Niccol, time to ass.