San Francisco’s Macy’s to Close amid Rampant Retail Theft

SHARE
TWEET
San Francisco’s Macy’s to Close amid Rampant Retail Theft

Macy’s in San Francisco is set to shutter this month following an announcement by Democratic San Francisco Board of Supervisors President Aaron Peskin.

Peskin released a statement on X, noting Macy’s would be downsizing by 150 locations, including the city’s downtown store in Union Square.

Peskin stated:

“Macy’s was one of the last holdouts against the national trend of retail closures and consolidations, but as with every seeming blow to our downtown recovery, I see a potential opportunity.”

“This site is an opportunity development site, with potential for mixed-use, food & beverage and residential on the upper floors, even before the pandemic.”

“Macy’s has confirmed that the building will remain open until the end of the year, and it will be put up for sale,” Peskin stated.

The Daily Caller reported:

The Democrat board president said that city officials will collaborate with the Union Square Alliance to “invest in the neighborhood” by marketing the development incentives and opportunities. He also noted that the store will likely stay open until the building is sold, which could take years, ABC 7 reported.

Of the 150 stores slated for closure, 50 are expected to shut down by the end of 2024, with the others closing over the next three years, Macy’s stated in a press release. The company is now planning to prioritize investments within “approximately 350 go-forward locations” while continuing the “expansion of small-format stores.”

More than 400 employees will be impacted by the decision to close Union Square, ABC 7 reported.

Six employees at the store told The San Francisco Standard that the closure was due to retail theft.

“I’m not in charge of making the estimates of how much we lose in a day, but last year we were told the losses were in the millions,” one said.

The news comes a month after a famous family-owned toy store in San Francisco that inspired Disney’s “Toy Story” announced closure after 85 years.

The Daily Fetched reported:

The owners said the closure was due to the “perils and violence of the downtown environment,” inflations, and consumer spending.

The reasons for the store’s closure are the same as those of Jeffrey’s Toys, which also shuttered last year.

The store on Kearny Avenue will close Feb. 10, according to Mr. Sterling.

“The family is saddened it has come to this,” he said in an emailed statement.

“The leadership of the City of San Francisco and the Downtown Association have their work cut out for them on how to revitalize what was once a vibrant and fun downtown experience.”

The owners are working with landlords and creditors, Sterling said.

The store also announced its closure last week on Facebook, saying:

“All things must go.”

READ: San Francisco: Over 9M Lethal Doses of Fentanyl Seized in 2023

NOTICE: Our comment section is currently disabled due to malicious attacks preventing our readers being able to comment properly. We are in the process are implementing a new system which will be live soon! Sorry for any inconvenience!

SHARE
TWEET
Telegram
Email
Reddit

Breaking

Trending

Brian Stelter Visibly Upset after Being Mailed a Potato by Fox News Viewer
Brian Stelter Visibly Upset after Being Mailed a Potato by Fox News Viewer - WATCH
Former CNN anchor Brian Stelter recalled on his podcast being mailed a potato from a Fox News viewer,...
Dr. Phil Warns Americans to Prepare for Next Lockdowns: ‘You Better Have a Plan’
Dr. Phil Warns Americans to Prepare for Next Lockdowns: ‘You Better Have a Plan’
Dr. Phil McGraw is warning Americans to plan their resistance against the next government-imposed lockdowns. During...
BlackRock CEO Larry Fink's Meltdown Caught On Audio after Red States Cut Off Funds to His Woke Company
BlackRock CEO Larry Fink's Meltdown Caught On Audio after Red States Cut Off Funds to His Woke Company
Radical left Blackrock CEO Larry Fink was caught having a total meltdown after red states cut off funds...
French First Lady Brigitte Macron Goes to Trial to Fight Claims She's a Man
French First Lady Brigitte Macron Goes to Trial to Fight Claims She's a Man
France’s first lady, Brigitte Macron, is going to trial in a Paris court to fight “conspiracy...
Germany to BAN DRIVING At Weekends To Fight 'Climate Change'
Germany to BAN DRIVING At Weekends To Fight 'Climate Change'
The German transport minister said he will soon be enforcing a complete ban on driving at weekends so...
Top Democrat Arrested for Faking Signatures of Dead People on Election Petition
Top Democrat Arrested for Faking Signatures of Dead People on Election Petition
Democrat and Peekskill Common Council member and Housing Authority Board member Rob Scott, 44, has been...
Gay Couple Arrested for Child Porn Possession after IKEA Makes Grim Discovery
Gay Couple Arrested for Child Porn Possession after IKEA Makes Grim Discovery
A gay couple in Maryland has been arrested for possession of child pornography after police were tipped...
Riots Erupt in Sydney after Famous Priest Stabbed in Front of Worshippers
Riots Erupt in Sydney after Famous Priest Stabbed in Front of Worshippers
Sydney has been shaken by another stabbing attack after a knife-wielding man stabbed a priest while he...
Michael Moore Give Democrats Reality Check: 'Trump Is Going to Win'
Michael Moore Gives Democrats a Reality Check: 'Trump Is Going to Win'
Leftist filmmaker Michael Moore broke down during a live TV interview, admitting that Joe Biden is going...
JD Vance Silences CNN Host Who Attempts to Resurrect "Russian Collusion" Hoax
JD Vance Silences CNN Host Who Attempts to Resurrect "Russian Collusion" Hoax - WATCH
Senator JD Vance (R-OH) left CNN anchor Jake Tapper speechless after he highlighted President Donald...

JOIN THE FIGHT!

SIGN UP FOR OUR FREE BREAKING NEWSLETTER STRAIGHT TO YOUR INBOX! 

We don’t spam! Read our Privacy Policy for more info.