Gap closes San Francisco stores, including its flagship

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Gap Inc. has shuttered a number of Gap locations across San Francisco, including its flagship, according to local media reports. Gap is headquartered in San Francisco. “As part of Gap Inc.’s strategy to adapt to the changing needs of the customer and growth of our online business, we are looking thoughtfully at our real estate to support the best path forward,” the company said in a statement. “As a result, we are closing a number of Gap and Banana Republic stores across the Gap Inc. fleet. We are committed to quickly and decisively addressing stores that are underperforming and reviewing lease agreements that don’t fit our vision for the future of Gap Inc., and we are confident these closures will strengthen the health of our company moving forward.” Among the names that are also in the Gap Inc. portfolio are Athleta and Old Navy. Gap reported a first-quarter loss and sales that missed expectations in June. The company is scheduled to report second-quarter earnings on August 27. Gap stock has tumbled 15.4% for the year to date while the S&P 500 index has gained nearly 5%.|NEW]. Gap is headquartered in San Francisco. “As part of Gap Inc.’s strategy to adapt to the changing needs of the customer and growth of our online business, we are looking thoughtfully at our real estate to support the best path forward,” the company said in a statement. “As a result, we are closing a number of Gap and Banana Republic stores across the Gap Inc. fleet. We are committed to quickly and decisively addressing stores that are underperforming and reviewing lease agreements that don’t fit our vision for the future of Gap Inc., and we are confident these closures will strengthen the health of our company moving forward.” Among the names that are also in the Gap Inc. portfolio are Athleta and Old Navy. Gap reported a first-quarter loss and sales that missed expectations in June. The company is scheduled to report second-quarter earnings on August 27. Gap stock has tumbled 15.4% for the year to date while the S&P 500 index has gained nearly 5%.
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