Gap Inc. is moving away from the nation’s malls. The San Francisco-based brand was for decades a fixture at shopping malls around the country. Now it says it’s closing 220 stores by early 2024. The parent company is also shuttering 130 Banana Republic stores.
As consumer shopping habits change, America’s shopping malls have anointed many saviors: food halls, movie theaters, gyms. Grocery stores could be next on the list. Simon Property Group, the largest mall owner in the U.S., hinted at the idea on an earnings call Monday evening. The comments came on the heels of a report that said Amazon was in talks with Simon to...