Gap Closing Hundreds of Stores in Shift Toward Old Navy, Athleta
- Company sparks rally with plan to refocus on newer chains
- Gap and Banana Republic brands will fade in company portfolio
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Gap Inc.’s latest strategy shift involves pivoting away from ... the Gap.
The apparel seller plans to refocus its efforts on the Old Navy and Athleta brands, a shake-up that will involve closing hundreds of stores that carry its namesake and Banana Republic names. Investors applauded the move, sending the shares on their biggest rally since October.