Simone Biles’ sponsors including Athleta and Visa are lauding her decision to put her mental health first and withdraw from the gymnastics team competition during the Olympics.

The San Francisco-based retailer, which was for decades a fixture at shopping malls around the country, said Thursday that it will be closing 220 of its namesake Gap stores — or one-third of its store base — by early 2024. That will result in 80% of its remaining Gap stores being in off-mall locations. As part of its restructuring, Gap Inc. said it also plans to close 130 of its Banana Republic stores in North America in three years. But the company plans to add more of its thriving low-priced Old Navy and Athleta stores. Executives said that Old Navy, Gap Inc.'s biggest business with annual sales of $8 billion in its most-recent year, is forecast to grow to $10 billion by early 2024.