Gap Gives Up On Older-Woman Concept

  • February 27, 2007
Struggling with weak sales and an exodus of top management, Gap Inc. said yesterday it will shutter Forth & Towne, its 18-month experimental retail concept for older women.

The store was aimed at women 35 and older, and the Gap has come under fire in recent months from analysts, who said Forth & Towne was distracting Gap from its core problems.

"Future investments should be focused on turning around its Gap and Old Navy brands as well as supporting other growth initiatives that have greater potential of creating shareholder value," the company said.

All 19 stores will be closed by the end of June.

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