- Gap: positive 3% versus positive 2% last year;
- Old Navy: positive 3% versus positive 4% last year;
- Banana Republic: flat versus positive 5% last year.
In memoriam of the brands we lost and those on their way out.
The e-commerce giant has made apparel a strategic focus.
While discount retailers at "C" malls benefit from the recent store closures, leading to lower rent costs, REITs and the malls themselves are in trouble.