Gap Inc (NYSE:GPS) announced that it will be shutting a slate of “underperforming” stores.

The brands that have been doing poorly over a number of quarters include its flagship Gap brand, as well as its once-popular Banana Republic apparel maker. About 200 stores in total will shut down.

The figure amounts to roughly 10% of the 2,000 Gap and Banana Republic stores around the world. The retailer has yet to specify which stores will shutter their doors, and whether or not the move affects the U.S. and North America or several regions around the world.

The move will allow Gap to streamline operations as it will turn its focus towards expanding the brands that are performing well for the company, including athletic apparel maker Athleta and Old Navy. These stores will open around the same time as the other stores will close.

Gap CEO Art Peck admitted that the decline in the underperforming stores has been “significant and acute,” adding that the company committed some “creative missteps” in attempting to add appeal to the brands for a contemporary audience.

Closing these stores will save the company $500 million over the next three years.

Meanwhile, Old Navy sales are expected to surpass the $10-billion mark in the next few years, while Athleta will top the $1-billion sales plateau.

GPS shares surged more than 7.4% Wednesday.