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Gap's strategy heads away from mall-based retail

Gap said it will shutter 75 of its namesake and Banana Republic stores this year as part of a plan to close 350 North American locations by January 2024. Gap's moves will see its presence in indoor malls decline as the brand increasingly focuses on its Old Navy and Athleta brands and e-commerce accelerates. Full Story: The New York Times (5/27)

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Store closures decline for the first time in 2021

For the first time in 2021, store closures have declined year over year, according to an emailed report from Coresight Research. The firm tracked 4,626 closures so far this year, 5.7% fewer than last