Gap Inc. will close 350 stores and exit malls entirely


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.”


Click here to read the full article:

Send this page to a friend

Recent News

‘The floodgates have opened’: 2020 sees surge of business transplants to South Florida

While COVID may be a catalyst, core reasons for coming to South Florida remain solid: access, taxes and lifestyle.

Publix Pursues Vision of Service and Ownership

Todd Jones may be the CEO of Publix Super Markets, but it’s clear that he’s never let that title, or any executive position before it, get in the way of understanding the intricacies of the grocery business.

Walmart earnings top expectations as customers’ new shopping habits send e-commerce sales soaring 79%

“We think these new customer behaviors will largely persist and we’re well positioned to serve customers with the value and experience they’re looking for,” Walmart CEO Doug McMillon said in a news release.