#1,988 - Big DT Seattle grocery store closes after only opening in 2022 blaming ‘lower number of office workers’
News For Reasonable People
English - November 07, 2023 12:00 - 22 minutes - 16.2 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Has Seattle’s office worker traffic peaked?
That’s one potential takeaway from the surprise closure of PCC Community Markets’ downtown grocery store and reports of a stalling return-to-office trend.
The store, in the heart of downtown Seattle at 1320 4th Ave., opened just last year following pandemic-related delays. It will close Jan. 31.
PCC CEO Krish Srinivasan, a former Remitly and Amazon exec, said in a statement Wednesday that the flagship store is unprofitable and “we do not see that changing for the foreseeable future.”
In a press release, PCC said the store has “significantly underperformed” relative to original forecasts “in large part due to persistently lower numbers of office workers and residential grocery shoppers in the city center following the pandemic.”
As Bloomberg reporter Matt Day pointed out, one potential reason for the store closure is Amazon.
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