SAN FRANCISCO (KRON) — Old Navy officials announced today that the retailer’s location on Market Street will close down after their lease expires on July 1.

“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 Gap Inc. spokesperson told KRON4.

The Market Street location first opened in the 1990s. In February 2021, Gap Inc., Old Navy’s parent company, announced several new flagship stores for Old Navy, Gap, Banana Republic and Athleta at its headquarters on Folsom Street. Old Navy also has several other locations in the Bay Area in San Francisco, Daly City, Colma and Emeryville.  

This news comes amid a retail exodus from the city, including stores like Whole Foods, Nordstrom, Saks Off Fifth and other large companies as well as several smaller local businesses. Many cite concerns about public safety, dirty streets and inflation as the reason to shutter their doors.