Gap Inc. will close around 200 Gap and Banana Republic stores over the next three years as it makes room to expand the Old Navy and Athleta brands.
According to a release from the company, sluggish sales from their namesake stores and Banana Republic locations have forced them to refocus.
"Over the past two years, we've made significant progress evolving how we operate - starting with getting great product into the hands of our customers, more consistently and faster than ever before," President and CEO Art Peck said. "With much of this foundation in place, we're now shifting our focus to growth."
Gap Inc. plans to open around 270 Old Navy and Athleta stores to replace the 200 Gap and Banana Republics closing. Currently, they have around 1,200 Gap and Banana Republic stores across the US.
The company did not release specifics on which stores would close, just that they would focus on "under performing" ones.
Locally, there are Gap stores in the Lakeside Mall, Premier Center in Mandeville, and a Gap Outlet at the Riverwalk.
Banana Republic has locations at Canal Place and in the Premier Center. They closed their Lakeside Mall location earlier this year.
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