Old Navy shuttering its San Francisco Market Street flagship store
SAN FRANCISCO -- Another flagship storefront in downtown San Francisco has announced plans to close. After more than two decades, the Old Navy store at the corner of Market and 4th Street plans to shut its doors on July 1 when its current lease expires.
The parent company Gap says the way it leverages flagship locations has changed since it opened this location in the 90s.
"We have taken the difficult decision to close our Market Street store when the lease expires, and we are already working to identify new locations in Downtown San Francisco that will better serve the needs of the business and our customers," a company spokesperson told SFGate.
Old Navy is the latest retailer to join the exodus from San Francisco's downtown and Mid-Market area. Earlier this month, Seattle-based retail giant Nordstrom said it would be closing its sprawling Westfield San Francisco Centre location at 5th and Market as well as its adjacent Nordstrom Rack store. citing deteriorating conditions in the neighborhood.
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Last month, Whole Foods closed its store at 8th and Market streets after just a year in operation, citing concerns for the safety of its employees. The company said the closure was "for the time being."
The city's Union Square shopping hub has also been slow to recover from both the COVID shutdowns and well-publicized cases of brazen retail theft.