"[Gap Inc.] is using the crisis as an opportunity to accelerate their fleet optimization strategies and leverage their scale to renegotiate rent, now that it is clear that even fewer shoppers will be heading to stores over the long-term," Boruchow wrote in emailed comments, noting that while the company had already said it would close 230 stores, including 170 Gap stores, it now plans on more and has added Banana Republic closures to the mix. (With its San Francisco headquarters and several distribution centers, the company has its own real estate assets, too, totaling $1.9 billion according to this note.)