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Gap Set to Close Hundreds of Stores CEO Says Are “Dragging Down the Brand”

As we settle into the new year, our Sourcing Summit Companion Report looks ahead at ways to optimize processes and performance.

Gap will be the latest retailer to cut a slew of stores lacking in the performance department. During a third quarter earnings call Tuesday, Gap Inc. CEO Art Peck said the company will start eliminating underperforming stores in a move he called “overdue.” Starting the call on a high, Peck extolled the well-performing functions of…

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