The global apparel company streamlined its retail footprint in 2017, reducing its holdings to just over 3,500 retail locations under Gap’s various brands. The move proved to be shrewd, with net income up $172 million over 2016.
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News about Gap
It is looking to rely less on Gap and Banana Republic.
Wall Street analysts say the brand is broken.
The department store's sales are growing less than the industry's.
Retailer plans to close more Gap and Banana Republic stores and open additional Old Navy and Athleta stores.