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Breaking News: Coach Headquarters Fire

The fire that was blazing on 34th Street and 10th Avenue here in Manhattan on Thursday was indeed the same tower that houses the corporate headquarters of Coach at 516 W. 34th St. However, the fire was only a rooftop fire and did not start inside the Coach offices.

According to Coach spokesperson Andrea Resnick, the fire was contained to the rooftop, where it was brought under control, and the damage was minimal. All of the company systems are up and fully operational. There were no injuries to Coach employees.

The building does not contain Coach goods; it is only their corporate headquarters. It will be closed tomorrow, but the building was only supposed to be open half a day due to the holiday. The building will be fully operational by Tuesday morning.

I spoke with Coach sources who are also downplaying the damage, as it doesn't affect merchandise. Coach's main edge right now does seem to be their talent (for example, the excellent merchant Reed Krakoff as president), so the corporate headquarters is of course important, but fortunately, none of the executives or employees were affected.

FYI -- the original address of the fire was erroneously reported by other news organizations, which is why we now are confirming details of the blaze that happened midday.

Questions? Comments? retaildetail@cnbc.com