Gap shifts focus to Old Navy, Athleta, shutting 200 stores

As a part of its growth strategy, Gap has decided to focus its energies on Old Navy and Athleta, which it believes will exceed 10 billion dollars and 1 billion dollars in net sales respectively, in the next few years, driven by growth in online and mobile channels, US store expansion, and continued market share leadership in loyalty categories. Gap added that the strategy also includes the closure of about 200 underperforming Gap and Banana Republic specialty locations.