Once a mall staple, clothing retailer The Gap Inc.announced this week the company plans to close 350 locations in North America.
The closings are expected to be completed by early 2024.
The move will allow the company to focus on outlet locations and e-commerce.
“We’ve been overly reliant on low-productivity, high-rent stores,” Gap CEO Mark Breitbard said. “We’ve used the past six months to address the real estate issues and accelerate our shift to a true omni-model.”
The Gap and Banana Republic store closings will bring an expansion of the company’s Old Navy and Athleta locations, with between 30 and 40 new locations opening over three years, the AP reported.
Gap is just the latest in the wave of stores closing.
NJ.com has compiled a list of nationwide businesses that have closed some or all locations:
© 2020 Cox Media Group