Gap Inc. to close 225 stores

Gap Inc. has announced they will be closing an additional 225 Gap and Banana Republic stores, with additional store closures planned for 2021. The company is even closing Gap's San Francisco flagship store. Although Gap is seeking net losses, they are still performing better than expected. Second quarter net sales fell 18 percent year over year to 3.3 billion dollars, with sales at Gap down 28 percent, Old Navy down 5 percent, Banana Republic down 52 percent and Athleta up 6 percent.