Gap to Close Stores, Shift Focus to Old Navy and Athleta



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The Gap have announced plans to close approximately 200 Gap and Banana Republic stores over the next three years and instead shift their focus to better performers in the company’s portfolio. Over the next three years Gap Inc. will open 270 additional Old Navy and Athleta stores, both of which have posted rising sales in comparison to Gap and Banana Republic’s falling sales. The company revealed Old Navy is set to surpass $10 billion in sales over the next few years and Athleta looking at $1 billion.