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Forever 21 will close one of its SF locations this Sunday

By Sara Ehlers

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Retail

One of Forever 21’s bigger stores in San Francisco is closing its doors this upcoming Sunday. On August 2, the store located at the corner of Powell and Market streets will officially close.

The store first originally opened over ten years ago in 2004. The former space was occupied by Bank of America at the time. The SoCal-based retailer decided to close the space due to the fact that there is another, bigger store one block away, according to Apparel News. The store that is set to close is 40,000 square feet, while its neighboring store harbors 53,400 square feet. The bigger store has four floors and is located off of Powell Street. It opened a few years ago and currently holds more merchandise than the 40,000 square-foot store. With the added square feet of both stores together, the brand decided it was too much for one block.

The Los Angeles-based company currently has over 480 store locations. The company is known for its affordable, stylish clothing that encompasses youth, urban culture. Stores offer apparel, shoewear, cosmetics, and more. Forever 21 was founded in 1984 by founder and chief executive officer Do Won Chang. The estimated revenue that Forever 21 brings in 3.85 billion. The company’s estimated net income is 124 million. The brand has over 30,000 working employees currently.

Although the San Francisco store is set to close, the company otherwise seems to be growing. The soon-to-be shuttered closure is not an indication of Forever 21’s current economic state.

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