Gap moving into Times Square in a big way

New York -- It’s official: Toys “R” Us is moving out of Times Square and Gap is moving in, but not just with one store.



Gap is planning to open two separate flagships, one for its namesake brand the other for Old Navy, in the space now occupied by Toys “R” Us.



“We're pleased to confirm our plans to construct our newest Gap and Old Navy flagship stores in one of one of the world's most well-known locations – Times Square,” the company said.



The stores, which will average about 31,000 sq. ft. each, are expected to open in 2017.