The North Face to Close Philadelphia Store After 15 Years
The North Face has announced it will close its Center City Philadelphia store at 1515 Walnut Street on January 31, 2025, concluding a 15-year presence in the area. The closure coincides with the expiration of the store's lease and will result in 17 employee layoffs. This decision is part of a broader cost-cutting strategy by parent company VF Corporation, which aims to reduce expenses by $300 million amid declining sales. The company has also recently closed other locations, including stores in Seattle and San Francisco.
Despite this closure, The North Face will continue to serve the Philadelphia region through its stores in the King of Prussia and Cherry Hill malls. The retail occupancy rate in Center City remains steady at 83%, indicating resilience in the local retail market.
Read the original article here: https://www.phillyvoice.com/north-face-philly-closing-center-city-walnut-street/
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