John Varvatos Moves Back to Union Square Could HM Be Next?

The article highlights the ongoing exodus of retailers from the SF Centre mall, creating opportunities for Union Square to attract new businesses. John Varvatos is at the forefront of this shift, returning to Geary Street after abandoning its previous location in 2018. Zara has announced plans for a new flagship store in Union Square, which could render its existing mall location obsolete. H&M's decision to keep its SF Centre location is now being reconsidered in light of changing consumer behaviors. Union Square still has a significant number of vacant spaces, but there is hope that these will soon be filled as foot traffic rebounds.

Marisa Rodriguez, CEO of the Union Square Alliance, expressed optimism about potential new arrivals, emphasizing the need for brands like J. Crew and Coach to seize the moment. The future of Macy's, which has anchored the area for nearly 80 years, adds uncertainty to the landscape as it prepares to close its store in February 2024. As retailers like Shoe Palace and Zara make their moves, the overall health of the shopping district remains a point of interest for both consumers and investors alike.