Out With the Old: Gap Closing 200 Stores, Shifting Focus to Old Navy, Athleta Brands

Apparel mainstay Gap Inc. (NYSE: GPS) is shifting its focus from its oldest and historically most profitable brands to its newest and fastest growing brands in Athleta and Old Navy. Gap executives announced at an investor conference today that both brands have “significant runway in front of them” after rising sales at Old Navy offset declining sales at its Gap and Banana Republic stores. The company expects Old Navy to exceed $10 billion and…

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