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Gap Inc. exiting malls, to shutter 350 stores by 2024

NEW YORK (AP) — 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. Continue Reading

 

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