Old Navy to Close Downtown San Francisco Store

Old Navy announced Friday that it will close its downtown San Francisco store this summer.

The store, located at 801 Market Street will close on July 1, according to a Gap Inc. spokesperson. The store opened in the 1990s.

Old Navy's parent company Gap Inc. said in a statement that they are already working to identify new locations in downtown San Francisco that will better serve the needs of the business and their customers.

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Old Navy is the latest retailer to close a store in San Francisco. Earlier this month, Nordstrom announced it will close both of its stores in downtown on July 1.

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. In addition, Banana Republic has announced plans for a new flagship store on Geary Street in Union Square."

"We want to thank the Old Navy Market Street employees for their dedication as well as our many customers who visited the store over the years. After the location closes to the public on July 1, we invite customers to shop our nearby locations in San Francisco, Daly City, Colma and Emeryville, or at OldNavy.com."