![](https://i.imgur.com/CLvY2jA.png")
14-07-2022, 02:12 PM
By Nathaniel Meyersohn, CNN Business
Updated 1930 GMT (0330 HKT) July 13, 2022
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The Gap capitalized on the rise of denim as the go-to look for a generation of young Americans and then expanded into khakis, t-shirts, tops, hoodies and other basics.
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But sales at the flagship Gap brand have slumped for years and it has become an afterthought for many American shoppers. The company's other brands, including Old Navy and Banana Republic, have also struggled.
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The Gap rode the expansion of suburban malls in the 1980s and 1990s, becoming one of the largest mall stores in the United States. So its fortunes have largely been tied to those of malls — great news in the '90s, but awful news now. Malls have been rapidly losing customers to online shopping and big-box stores.
Gap said in 2020 that it would close 30% of its Gap and Banana Republic stores in North America by 2024 — mostly in malls.
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brands and retailers such as Levi (LEVI), Target (TGT) and fast-fashion sellers H&M and Zara lured away the Gap's denim shoppers. Direct-to-consumer brands online have also chipped away at the Gap's audience.
Much more at: https://edition.cnn.com/2022/07/13/busin...index.html
Updated 1930 GMT (0330 HKT) July 13, 2022
......
The Gap capitalized on the rise of denim as the go-to look for a generation of young Americans and then expanded into khakis, t-shirts, tops, hoodies and other basics.
......
But sales at the flagship Gap brand have slumped for years and it has become an afterthought for many American shoppers. The company's other brands, including Old Navy and Banana Republic, have also struggled.
......
The Gap rode the expansion of suburban malls in the 1980s and 1990s, becoming one of the largest mall stores in the United States. So its fortunes have largely been tied to those of malls — great news in the '90s, but awful news now. Malls have been rapidly losing customers to online shopping and big-box stores.
Gap said in 2020 that it would close 30% of its Gap and Banana Republic stores in North America by 2024 — mostly in malls.
......
brands and retailers such as Levi (LEVI), Target (TGT) and fast-fashion sellers H&M and Zara lured away the Gap's denim shoppers. Direct-to-consumer brands online have also chipped away at the Gap's audience.
Much more at: https://edition.cnn.com/2022/07/13/busin...index.html
