"San Francisco's Downtown Mall Suffers Fifth Closure in January as Madewell Exits"
San Francisco's downtown mall has lost its fifth store in a month, with Madewell announcing its closure, following J. Crew, Adidas, Lucky Brand, and Aldo. The mall, now 75% empty, has lost $1 billion in value since 2016, with Nordstrom's closure in 2023 sending shockwaves. The troubled Union Square area has seen businesses and tourists flee, with rampant homelessness and crime. Retailers cite weak sales, foot traffic, and crime for vacating the failing mall, as the city grapples with a 50% decline in downtown retailers since the start of the pandemic.