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Gap, JCPenney, Foot Locker all announce major store closures

Victoria's Secret will also be shuttering more than 50 stores.

The past 24 hours have been a bloodbath for clothing retailers, after more than 450 stores closures were announced nationwide.

Gap, JCPenney, Victoria's Secret and Foot Locker made the announcements on Thursday and Friday, though none of them have released details about where the axe will fall.

The biggest shutdown is coming from Gap, whose parent company confirmed it is splitting its company into two, with the successful cut-price chain Old Navy going one way, and the struggling Gap going the other, along with brands including Athleta and Banana Republic.

As a result of the split, Gap will be closing 230 of its own-brand stores.

JCPenney has announced it will close a further 18 full-size stores in 2019, three of which had already been announced in January.

However, the company confirmed to BMTN that none of the latest closures will come from Minnesota.

Meanwhile, Victoria's Secret is closing 53 stores, while Foot Locker is shutting 167 locations.

Here's a look at how many stores each of these companies has in Minnesota:

  • Victoria's Secret – 14
  • Gap – 9
  • JCPenney – 15 (Minnesota locations are safe from closure)
  • Foot Locker – 16

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