Nordstrom will close both of its downtown San Francisco stores in the coming months, citing the "dynamics" of the downtown market as the region continues to see a rash of retail thefts by brazen thieves.
In a memo to employees, Chief Stores Officer, Jamie Nordstrom, said the company will not renew its lease for its San Francisco Centre Nordstrom store and the Market Street Rack store across the street.
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"We’ve spent more than 35 years serving customers in downtown San Francisco, building relationships with them and investing in the local community," the message said. "But as many of you know, the dynamics of the downtown San Francisco market have changed dramatically over the past several years, impacting customer foot traffic to our stores and our ability to operate successfully."
The last day of business for the Market Street Rack will be July 1 and the San Francisco Centre location will close at the end of August.
The Westfield mall, where the downtown Nordstrom is located, and its owner, Unibail-Rodamco-Westfield, said the closures "underscores the deteriorating situation in Downtown San Francisco," The San Francisco Standard reported.
"A growing number of retailers and businesses are leaving the area due to the unsafe conditions for customers, retailers, and employees, coupled with the fact that these significant issues are preventing an economic recovery of the area," a mall spokesperson said.
"[Unibail-Rodamco-Westfield] has actively engaged with city leaders for many years to express our serious concerns, which are shared by our customers and retailers. We have urged the city to find solutions to the key issues and lack of enforcement again," the statement added.
Nordstrom recently announced the opening of five new Rack stores in California, including near the Bay Area.
The National Retail Federation’s 2022 retail security survey ranked San Francisco/Oakland as the second-most hard-hit metropolitan area by theft in 2020 and 2021, behind Los Angeles. New York City was third while Houston placed fourth.
