Growing Old Navy, Athleta now the focus at Gap

SHARE Growing Old Navy, Athleta now the focus at Gap
5_23_chapman_old_navy_11_1357837.jpg

Gap Inc. says it will shift its focus to its growing brands Old Navy and Athleta, and away from the Gap and Banana Republic. | Sun-Times file photo

NEW YORK — Gap Inc. says it will shift its focus to its growing brands Old Navy and Athleta, and away from the Gap and Banana Republic.

The company said Wednesday that it will close about 200 Gap and Banana Republic stores in the next three years and open about 270 Old Navy and Athleta stores during the same period.

Low-priced Old Navy has been a bright spot for the clothing retailer, posting rising sales even as they fell at the Gap and Banana Republic.

The San Francisco company says Old Navy is on track to surpass $10 billion in sales in the next few years. And Athleta, which sells athletic clothing, is expected to exceed $1 billion in sales.

Shares of Gap rose nearly 5 percent to $25.18 in morning trading.

The Latest
Team says Kopech will be ready for spring training without restrictions
A boy, 14, and a man, 19, were shot about 6:20 p.m. Saturday in Greater Grand Crossing. Both were hospitalized in good condition, police said.
Go ahead, get excited. This is the best Illinois team since the Ron Zook years.
With roughly a week left until the opening NHL roster will be decided, Alec Regula, Alex Vlasic and Isaak Phillips remain on the bubble, fighting for likely two open spots.
Fritz Pollard was the first Black head coach in the NFL, one of the first two Black players in the NFL, the first Black football player at Brown University and the first Black player in the Rose Bowl.