Gap Inc. is shifting its emphasis to its two best-performing brands — and realigning its store portfolio to reflect its new emphasis.
The nation's largest specialty apparel retailer had decided that its future growth lies primarily in its lower-priced Old Navy and athleisure-positioned Athleta brands. As a result, it expects to close about 200 underperforming Gap and Banana Republic stores over the next three years. Banana Republic has been a particularly dismal spot for the retailer, with 10 straight quarters of same-store sales declines.. . . more