Oh, well... More jobs lost, but we knew this...
- 350 Gap, Banana Republic stores to shutter by 2024 as parent company exits malls
Gap Inc. is moving away from the nation’s malls.
The San Francisco-based retailer, 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% 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.