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article imageOprah Winfrey sells the Oprah Store in Chicago, loses $1,000,000

By Marcus Hondro     May 15, 2013 in Entertainment
The Oprah Store must have seemed a good idea when it opened in 2008 across from the Chicago studios where owner Oprah Winfrey shot her TV show. While it did good trade selling Oprah items for a time, when her talk show ended the store soon after closed.
Winfrey was left with a piece of real estate that she no longer could use. She had bought the space for $1.9 million and the NY Daily News learned recently that when she sold it this year, to a yoga studio, she took a pretty hefty loss, getting just $875,000 for it. So she's down $1.025,000 on the exchange.
The Oprah Store: Oprah-logo apparel
The 5,500-square-foot store may not have been intended to be a big profit-maker but rather an extension of the show, there to generate publicity and hype. As the Daily News noted, the Oprah Store sold "Oprah-logo apparel, as well as Oprah’s Closet items - designer clothing and shoes previously owned by Winfrey, whose proceeds went to charity."
Can Oprah afford to drop a million bucks? Well, according to Forbes, she can. True, Forbes only lists her as the 503rd richest person in the U.S., but she has a net worth of $2.8 billion.
More about Oprah Winfrey, the Oprah Store, oprah loses a milllion dollars selling store, oprah winfrey net worth
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