AT&T to close flagship store in downtown San Francisco

The wireless carrier announced Friday that it will close its flagship store in downtown San Francisco. Real estate pain deepens in the A once thriving technology hub It has been particularly hard hit by the pandemic.

San Francisco stores continue to close as they try to cut real estate space in the face of declining customer traffic, occupancy and sales.

Office building remains vacant As more people work from home, Massive layoffs by big tech companies.

AT&T announced that it will close its Powell Street store on August 1 and offer all retail employees affected by the change jobs at other stores in the city.

“Consumers’ shopping habits continue to change, and we are changing with them. It means providing,” a company spokesperson said.

Earlier this week, Univers Rodamco Westfield said it would. Transferred Westfield San Francisco Shopping Mall to a financier.

last month, Nordstrom says it plans to sell downtown stores inside the shopping center.

Real estate investment trust Park Hotels & Resorts also announced last week that it had stopped paying a $725 million mortgage related to its Hilton San Francisco Union Square and Park 55 hotels.

In April, AT&T reported dismal cash flow and first-quarter sales that fell short of market expectations, highlighting the cost of consumers’ tight wallets.