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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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Current price of oil as of June 23, 2026
RetailNordstrom

Nordstrom is bailing on its flagship San Francisco store after 35 years because the area has ‘changed dramatically’

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
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August 28, 2023, 10:41 AM ET
Nordstrom has closed the doors of its downtown San Francisco store.
Nordstrom has closed the doors of its downtown San Francisco store. Justin Sullivan—Getty Images
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One of the flagship retailers in downtown San Francisco has called it quits. Nordstrom closed the doors on its five-story, 312,000-square-foot store Sunday for the last time ever, the latest retailer to capitulate to rising crime and lower foot traffic.

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The news wasn’t a surprise. Nordstrom announced it planned to shut down the once-vibrant store in May.

“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,” Jamie Nordstrom, chief stores officer, wrote in a letter to employees at the time.

While Nordstrom was once one of the kings of downtown San Francisco shopping, its final days were anything but glorious. Displays were empty, and areas were sealed off.

The company also shut down its Nordstrom Rack on Market Street last month, walking away from the heart of the city.

Nordstrom joins a growing contingent of retailers abandoning the area. Office Depot, Old Navy, Saks Off 5th, and Anthropologie have shuttered their downtown locations, and a nearby Whole Foods has also left, citing safety concerns.

Nordstrom’s departure has extra ripple effects, though. Westfield, the mall where the closing store is located, announced it would be giving the property back to its lender. That mall has been a fixture on Market Street for over 20 years. Sales at the mall, named San Francisco Centre, came in at $298 million last year, compared with $455 million in 2019, Westfield said when announcing the decision. Foot traffic at the mall was down 42% in that same time period.

“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,” the mall’s owner said at the time Nordstrom announced the closing.

San Francisco has been in the midst of what some call a “doom spiral,” with office buildings and businesses still empty in the post-pandemic landscape. Crime has reached levels high enough to prompt some downtown pharmacies to lock up shampoo, toothpaste, and other toiletries. And armed robbers recently hit a Gucci store in broad daylight.

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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