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Read it at Bloomberg News
As many as 175 Gap stores will be shut down for poor performance, as the brand tries to salvage its image and reverse a sales decline. “Some of the stores that we’re currently in don’t represent the best of our brand,” the company’s global president told Bloomberg News. “We want to make sure we don’t have so much of a disparity.” After the slim-down, the chain—which has consistently lagged behind corporate sister Old Navy—will be left with 500 stores and 300 outlet locations.