Gap is out, Old Navy is in!

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Some Gap stores are sailing off while Old Navy is launching more.  Gap Incorporated announced Wednesday that it will shutter 200 under-performing Gap and Banana Republic locations.  At the same time, the company plans to open 270 discount Old Navy brand and Athleta stores.  Last year, Gap said it would close 175 stores after going almost 2 years without sales growth.  The year before, Gap closed 100 stores.  Showing optimism, the company told its investors this week it expects Old Navy to exceed $10 billion and Athleta $1 billion in net sales in the next few years.  

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