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Nordstrom leaves downtown San Francisco, joining big-city retail exodus
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Dwindling foot traffic, rising costs and surging crime has led more stores to close in major urban centers
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“For the big box and the grocery [stores], which are trying to optimize a single-digit margin, it is very difficult to operate, and you will see more and more exits happening,” said Lakshman Lakshmanan, senior director in consultant Alvarez & Marsal’s consumer and retail group.”