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Gap CEO draws ‘line in the sand’
Gap Inc. CEO Art Peck is refocusing the 3,000-store company on the areas with the biggest potential for driving growth — and they do not include its oldest divisions. “We’re certainly not giving up on Gap or Banana [Republic], but we’re acknowledging the world continues to change,” Peck said in an interview with Bloomberg. “And those are the two most mature brands in the portfolio.” -
Department store giant scales back holiday hiring
Fewer stores translates into reduced holiday hiring for Macy's this year. Macy's plans to hire a total of 80,000 workers for the holiday rush, down from about 83,000 last year. The company has been closing underperforming stores and currently operates some 70 fewer stores than it did last year.

