Gap to close 200 Banana Republic, Gap locations - Spokane, North Idaho News & Weather KHQ.com

Gap to close 200 Banana Republic, Gap locations

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Photo Courtesy Gap Photo Courtesy Gap
SAN FRANCISCO, Calif. -

Attention shoppers: Gap Inc. is closing up to 200 Gap and Banana Republic locations over the course of the next next three years.

San Francisco-based Gap announced Wednesday that it will open 270 new Old Navy and Athleta stores to offset sluggish sales from its namesake stores and upscale Banana Republic. The locations set for closure have not yet been announced, but are considered 'underperforming.'

"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," said Art Peck, president and chief executive officer, Gap Inc. "With much of this foundation in place, we're now shifting our focus to growth."

Gap has about 1,200 Gap and Banana Republic stores in the U.S., including both a Gap and Banana Republic at Spokane's River Park Square.

The company's release, it said it expects sales at Old Navy to top $10 billion with Athleta sales exceeding $1 billion over the next few years. The closures are projected to save Gap about $500 million over the next three years.

Gap's announcement is just the latest in a series of retail shutdowns, including closures by Sears, Payless, Kmart, JC Penney, Gymboree and more.

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