Business & Tech
Gap, Banana Republic Stores Facing Closing Threats
Banana Republic and Gap stores are located in Avon, South Windsor and Farmington and have been put on notice by their corporate parent.
AVON, CT — Gap Inc. said Thursday it plans to close about 200 "underperforming" Gap and Banana Republic stores.
The parent of the two brands did not name specific stores, but in a report issued Thursday, it was clear consolidation was on the table.
Area Gap stores are in Avon, South Windsor and Farmington. Banana Republic stores are in South Windsor and Farmington.
Find out what's happening in Avonfor free with the latest updates from Patch.
Gap Chief Executive Officer Art Peck described the sales downturns at Gap and Banana Republic as "significant and acute," and traced the low numbers to some "creative missteps" in schemes to keep the brands competitive.
The company is planning to expand both Old Navy and Athleta by opening up 270 new locations in the next three years.
Find out what's happening in Avonfor free with the latest updates from Patch.
One positive spot for Gap has been the Old Navy brand. In an earnings report released last month, Old Navy was up by 5 percent, while comparable sales at Gap fell by 1 percent and Banana Republic's comparable sales dropped by 5 percent.
The company said it plans to continue making "significant" investments in its online operations.
Photo Credit: Wesfarms Mall
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