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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
Updated on

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.