Gap Inc. will close 350 stores and exit malls entirely
Published Monday, October 26, 2020

Gap is moving to reinvent itself and its focus is on outlets and e-commerce. Their plan for over the next three years is to open 30-40 new Old Navy stores and add about 100 new Athleta stores to its portfolio. During an investors call, Gap CEO Gap CEO Mark Breitbard said “We’ve been overly reliant on low-productivity, high-rent stores, we’ve used the past six months to address the real estate issues and accelerate our shift to a true omni-model.”

 

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