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“As we look ahead to 2019 and beyond, we know what we need to do to win and, combined with the separation we announced today, we will be well positioned to leverage the power of our brands and the talented teams that lead them to accelerate the pace of change, improve execution and deliver profitable growth,” said Art Peck, president and CEO of Gap.
The company as a whole saw a 1 percent decrease in comparable sales in the fourth quarter of 2018. During the same period of 2017, comparable sales were up 5 percent.
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Old Navy’s comparable sales were flat despite a 9 percent increase in 2017, Gap’s were down 5 percent versus no change in 2017 and Banana Republic dropped from a 1 percent increase in 2017 to a 1 percent decrease in 2018.
Gap at The Greene Town Center in Beavercreek is already set to close. There are still stores at the Cincinnati Premium Outlets, Jeffersonville Tanger Outlets and others in Cincinnati and Columbus.
Old Navy has a larger presence in the area with stores at the Greene, Liberty Center, Bridgewater Falls, Waterstone Center, Jeffersonville Tanger Outlets and several others in Cincinnati. The Old Navy store at the Dayton Mall recently closed but another is under construction at Austin Landing.
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