Old Navy’s parent company, Gap Inc., announced on Friday that the Old Navy store located on Market Street in downtown San Francisco will be closing on July 1. The store has been in operation for nearly 30 years. The decision to close the store was attributed to the changing strategy of leveraging flagship locations and the need to identify new downtown locations that better serve the business and customers.
The closure of Old Navy comes as several other retailers in downtown San Francisco have also announced store closings. Williams Sonoma, Nordstrom, and Saks Off 5th are among the retailers shutting their doors in the city. Even Coco Republic, an upscale home furnishing provider, is leaving its storefront after opening just last fall.
San Francisco shoppers have noticed a decline in foot traffic and customers at Old Navy, which may be attributed to the impact of the pandemic on the economy. The trend of online shopping and the drop in convention business and tourism have further contributed to the challenges faced by retailers.
While the closure of these stores presents a challenging landscape for retailers, some businesses like the Dr. Martens store remain optimistic. Located across the street from the soon-to-be vacant storefronts, they hope that the return of big events like SF Pride will bring people downtown and help sustain their business.
Despite the closure of the Market Street store, Bay Area shoppers can still find Old Navy stores in other locations such as Folsom Street in San Francisco, Daly City, Colma, and Emeryville.
