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Oct 23, 2020
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Gap is closing hundreds of stores as it attempts to flee failing malls.

On Thursday, Gap Inc. announced plans to close roughly 350 Gap and Banana Republic stores in North America by the end of 2023. That represents a 30% drop in its total number of locations.

The company previously announced plans to close more than 225 Gap and Banana Republic stores in 2020. In 2019, there were 1,216 Gap and Banana Republic locations in the US and Canada; by the end of 2023, there will only be roughly 870 left.
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