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Gap Inc., which was for decades a fixture at shopping malls around the country, said Thursday that it will be closing 220 of its namesake Gap stores — or one-third of its store base — by early 2024. That will result in 80 percent of its remaining Gap stores being in off-mall locations. As part of its restructuring, Gap Inc. said it also plans to close 130 of its Banana Republic stores in North America in three years. The retail organization detailed a three-year plan that calls for closing what amounts to 30 percent of the company’s Gap and Banana Republic stores in North America and focusing on outlets and its e-commerce business.
more at: https://www.mytotalretail.com/article/gap-exiting-malls-to-shutter-350-stores-by-2024/