Old Navy announced Friday that it will close its downtown San Francisco store this summer.
Here's Gap Inc.'s full statement from Friday:
"Old Navy is always evaluating its real estate portfolio to ensure a healthy fleet of stores that can provide the best possible experience for our customers. Since our Market Street store opened in the 1990s, the way we leverage flagship locations has changed." "As a result, 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."
"Gap Inc. has deep roots in San Francisco and is committed to the city. We recently invested in renovating our Downtown San Francisco hub where our teams come together to develop new consumer experiences and product innovations. As part of that remodel, we opened four new stores at our headquarters where customers can experience the latest fashion and experiences from each of our brands, including new Old Navy, Gap, Banana Republic and Athleta stores.
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