The Latest Breaking News from Old Navy

The retailer has operated at the location since 2012. Three other Old Navy stores remain open near downtown. Analysts expect the prime corner to find a new tenant.

Despite efforts to reinvigorate its Gap, Old Navy and Banana Republic offerings, Gap is laying off 500 corporate workers as consumers snub the once-popular brands.

The mall brand has licensed Bored Ape #7285 for a graphic tee.

Shares of Gap Inc (NYSE: GPS) intially dropped more than 5% on Friday after the company reported first-quarter earnings and cut its full-year profit guidance.

Old Navy set out to make clothes shopping more inclusive for women of all body types. It ended up with too many extra-small and extra-large items and too few of the rest, a mismatch that frustrated customers and contributed to falling sales and a management shake-up.

Stock futures extend slide as hawkish Powell ignites rate rally; Twitter shares higher on report Musk may team-up with Thoma Bravo; Gap shares plunge as group loses Old Navy exec, slashes sales forecast; Snap sees inflation, supply chains hitting Q2 ad revenues and Disney set to lose self-governing status in…

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Old Navy, which contributes to around 55% of Gap Inc’s (NYSE: GPS) sales, is likely to be “disproportionately hurt” by its exposure to low-income consumers and worsening supply chain disruptions, according to BofA Securities.