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FAO Schwarz Staying on Fifth; Duane Reade Gives Away $1M

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And now, the latest from Racked NY, covering shopping and retail from the sidewalks up.

1) Midtown East: Contrary to the rumors that were swirling a few years back, FAO Schwarz is not leaving its Fifth Avenue space. It has renewed its lease and will welcome kiddies to its world of toys for at least five more years.

2) FiDi: The new mega-Duane Reade on Wall Street has one more trick up its sleeve: this morning it gave someone $1 million, and several more someones $5,000 each.

3) NYC: Here are some of the places where Gwyneth Paltrow likes to shop.

· Racked [ny.racked.com]