Gap Inc. Announces New Store Rollouts, Closures


San Francisco-based clothing retailer Gap Inc. has announced plans to shift focus toward its Old Navy and Athleta brands, revealing plans to roll out 270 new locations between both divisions.
The retailer also announced plans to shutter 200 underperforming Gap and Banana Republic locations over the next three years.

The new stores are anticipated to generate $10 billion and $1 billion, respectively, over the next several years, retaildive.com reports. The closures are also expected to generate close to $500 million in annual savings.

Gap Inc. operates roughly 3,720 Gap stores, more than 640 Banana Republic stores and 1,106 Old Navy stores.

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