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More Like The Abyss, Amirite?
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Did you ever think that The Gap would falter so much that they'd spin Old Navy into its own company while shutting 230 Gap stores over the next two years? Old Navy is such a strong performer that it accounts for nearly half of The Gap's total revenues, so spinning it off protects it. As for The Gap, when was the last time you shopped there (or Banana Republic, for that matter, their other main brand)? Old Navy pretty much has the same stuff, a little lower quality but plenty good enough, and a lot cheaper. People figured that out a while ago. Can a store like The Gap survive? (NPR)
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