Article

2023-05-31 Economy

Old Navy Closes Flagship Store in San Francisco Amid Wave of Retail ~~Theft~~ Entitlement

[Free Beacon] Old Navy will close its flagship store in downtown San Francisco, the company announced Friday, joining a slew of chains that have shuttered stores amid rampant crime and retail theft.

An Old Navy employee told a local CBS affiliate the store, which has been open for more than two decades, has become a frequent target of shoplifting.

"They're [shoplifters] there every day. When I'm on the floor walking around I would say at least 12, 14 during the day," the employee, who wished to remain anonymous, said. "It's really bad because it's downtown San Francisco and it's really out of control."

Old Navy is the latest retail company to close stores in downtown San Francisco. Nordstrom announced earlier this month that it would be closing both of its downtown locations this summer, and Saks OFF 5th said its only location in San Francisco would close in the fall. Whole Foods closed its "flagship" location in San Francisco in April, citing the "safety" of its employees.

In 2021, Walgreens closed five stores in San Francisco, citing the challenges posed by an "organized retail crime" wave.

The San Francisco-Oakland area ranks as the second-most affected by organized retail crime, behind only Los Angeles, according to a National Retail Association survey. The company did not mention crime in a statement to the CBS affiliate, saying the "difficult decision" was made after evaluating the company’s "real estate portfolio."

Posted by Besoeker 2023-05-31 01:06|| || Front Page|| [11136 views ] Top

Gap, Inc., owns Old Navy and has a perfect CEI score of 100. Sometimes you get what you ask for.

Posted by DooDahMan 2023-05-31 06:07|| 2023-05-31 06:07|| Front Page Top

#2 Decivilization continues.

Posted by Procopius2k 2023-05-31 07:39|| 2023-05-31 07:39|| Front Page Top

#3 Uhem...
"Declining Profit Margins"

Turning this around will require the leveraged during Live and Let Live plus interest. That is, more of security guard shoots down tranny thief.

IIUC that's how New York City cleaned itself up; law enforcement -of any kind- given some liberty on lethal force, and staking out businesses until the risk level for robbers became a deterrent.

Of course that requires the legal and community fortitude for a year or two of some messiness.

It appears, at the moment, that roll is a hard 20.

Posted by swksvolFF 2023-05-31 10:41|| 2023-05-31 10:41|| Front Page Top

#4 It would be fascinating to explore where the stolen merchandise ends up. Curbside street sales or discount stores in other parts of the bay area? Aside from a few LGBTQ... exceptions, the styles pf Old Navy beyond hoodies and sweats don't fit the cultural fashion sense of most of the feral acquisition artists.

Posted by NoMoreBS 2023-05-31 10:45|| 2023-05-31 10:45|| Front Page Top

#5 It is a known that today's retail business model holds that store locations in suburbs exist to fund the locations in big cities that exist soley as redistribution centers. And now, that model is beginning to collapse as it is unsustainable. With all the talk of "sustainability" the truth is that nothing about today's societal compact is sustainable.

Posted by Rex Mundi 2023-05-31 10:45|| 2023-05-31 10:45|| Front Page Top

#6 I don’t think the liquidation sale brought in much money.

Posted by Super Hose 2023-05-31 13:00|| 2023-05-31 13:00|| Front Page Top

11:50 Phererong Whavique2804
11:24 MikeKozlowski
11:22 MikeKozlowski
11:20 MikeKozlowski
10:55 Procopius2k
10:55 Skidmark
10:42 Lord Garth
10:42 Matt
10:40 Skidmark
10:38 Clem+Elmish4239
10:37 3dc
10:31 3dc
10:19 NN2N1
10:12 ed in texas
10:08 Skidmark
10:08 Super Hose
10:02 Flamingo
10:01 Super Hose
10:00 NN2N1
10:00 Super Hose
09:56 NN2N1
09:56 Skidmark
09:54 Skidmark
09:51 Super Hose