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Gap’s Old Navy Exits Japan as Chain Copes With Sales Decline

  • U.S. retailer shutting about 75 stores in total to shift focus
  • Japan shoppers in money-saving mode, picky on brands: analyst
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Japanese shoppers will have to look elsewhere for performance fleece.

Gap Inc. is closing all its 53 Old Navy outlets from Japan this year, ceding ground in the world’s third-largest economy to local-born fashion brands such as Fast Retailing Co.’s Uniqlo and Ryohin Keikaku Co.’s Muji.