12. The Gap
How Many Stores Closing: 220
Current Value of the Business: $3.86 billion*
Gap, navigating the tumultuous ‘retail apocalypse’ alongside its peers, refuses to go gently. In a strategic move, it onboarded Mattel’s president as its new CEO, aiming to harness the success DNA from the toy giant.
Despite these efforts, Gap hasn’t been immune to making tough decisions. It’s in the process of closing over 200 stores by the year’s end, significantly reducing its physical retail footprint in a bid to adapt to changing commercial landscapes.
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