The outlet mall industry has undergone a major transition during the past decade and has never been better positioned for future success. This is a significant change from 10 years ago when a stale product mix targeted to a transient shopper base had raised serious questions about the viability of the outlet mall.
At an investor conference on Thursday, Gap CEO Glenn Murphy announced the company will close 200 of its 900 U.S. namesake stores even as it expands its outlet presence.