Gap to close half of their locations split Old Navy into separate c上海龙凤论坛sh1f
A closing Gap store (Credit: Getty Images)
Old Navy will have to go it alone from now on.
Owners Gap Inc are closing 230 of their branded stores, roughly half of all their locations, and splitting Old Navy into a separate publicly traded company. Most of the closures will be in the U.S.
“Following a comprehensive review by the Gap Inc. board of directors, it’s clear that Old Navy’s business model and customers have increasingly diverged from our specialty brands over time, and each company now requires a different strategy to thrive moving forward,” Gap’s board chairman Robert Fisher said in a statement. “Recognizing that, we determined that pursuing a separation is the most compelling path forward for our brands.
Among the Gap locations already slated for closure in Manhattan are the stores at 680 Fifth Avenue and 60 West 34th Street.
Old Navy has consistently outperformed sister companies Gap and Banana Republic, according to reporting from USA Today. Gap will conti上海贵族宝贝交流区
Neither Gap nor Old Navy performed well in the fourth quarter of 2018. Old Navy opened the year flat, while Gap saw a five percent drop during the end-of-year holiday season, according t新爱上海同城对对碰论坛
Tags: Commercial Real Estate, gap, Retail Real Estate We are having some technical difficulties. Try again later.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.