San Francisco’s Old Navy has become the latest store to close in a crime-ridden city

a job

by Catherine Dunleavy

May 27, 2023 | 1:21 a.m

San Francisco’s three-decade Old Navy store is set to close this summer — adding to the growing list of shuttered retailers across the crime-ridden city.

According to a company statement, the Market Street location — located just three miles from the company’s headquarters — will close on July 1 once the lease expires.

Gap Inc. said: Old Navy, which owns a number of retailers including Gap, Banana Republic and Athleta, “is always evaluating its portfolio of properties to ensure a healthy fleet of stores that can provide the best possible experience for our customers.”

The company said that “the way we make use of prime locations has changed” since it opened the Market Street location in the 1990s, but it is working on a new location in downtown San Francisco to replace the empty storefront.

Old Navy’s closing comes just weeks after the Gap. Inc revealed that it will cut 1,800 jobs across the country as part of a cost-cutting reorganization.

The job cuts followed the abolition of more than 500 positions at the company four months ago amid slumping sales and profits.

The Old Navy location isn’t the only Bay Area store that has suffered enough losses to close in recent weeks.

Nordstrom is preparing to close two locations in the city: its department store in Westfield Mall and Nordstrom Rack a few doors down on Market Street.

The closure will cut nearly 380 jobs as the clothing retailer struggles to deal with an increase in shoplifting exacerbated by a drop in foot traffic.

Saks Off 5th, Anthropologie, Coco Republic and Whole Foods Market have all joined the list of retailers dumping their San Francisco storefronts, with the latter announcing plans to close just a year after opening.

At least 20 stores in the city’s Union Square area have closed since 2020.