Gap Inc says it is shutting 230 of its stores.
The fashion firm also said splitting off its Old Navy brand, which will be a standalone company.
They say it's part of restructuring efforts aimed at "revitalising" the company.
According to latest figures, sales at Gap are continuing to fall while Old Navy's revenues are on the rise.

US says oil from strategic reserve to start reaching market next week
Standard Chartered issues clarification on local operations
Cyprus aims for gas exports by 2028 as conflict heightens supply tensions
DP World reports record $24.4bn revenue for 2025
