About 200 stores Gap and Banana Republic will close nationwide in the next few years, as parent company, Gap Inc, has decided to focus on its more successful brands Old Navy and Athleta.
The location of shops for the closure were not disclosed. Instead, the company plans to open 270 new stores, which will sell brands such as Old Navy and Athleta, thereby increasing the total number of stores included in the network.
About the decision of the Gap Inc. it became known on Wednesday. Before the Gap had to massively close their stores in 2015 has stopped working 175 of its stores network. It is worth noting that the clothes at Gap and Banana Republic is more expensivethan Old Navy.
Due to its availability, Old Navy stores, are popular among buyers and good income, especially given the fact that in Gap and Banana Republic fell in sales.
It is expected that in the next few years the number of sales Old Navy will be over $ 10 billion, and the figure of the Athleta brand, which specializiruetsya on sportswear, will exceed $ 1 billion.
Total Gap Inc. 3650 owns stores in 90 countries. Gap shares rose almost 5 percent to $25,18 in the morning session.
