Gap Will Close Several Stores in North America and EuropeJune 22, 2015 - Author: steph
In a shocking announcement, Gap made a statement it will up to close one-fourth or its shops in America within the next few years reports Sergio Cortes. Gap did not address the numbers of stores in Europe that will close its doors. Gap did states sluggish sales for the reason for this change. Most Gap Outlet stores will remain open for business.
The closing of over 100 Gap stores will affect unemployment rates. More than 250 corporate level positions across the United States of America. Gap’s goal in reducing the number of its stores is to restore Gap’s image and get it back on track quickly.
Gap seems to need a sense of direction when it comes to fashion. Customers no longer know what Gap stands for. As a result, the company was bogged down by Gap stores in malls that did not perform to expectation.
What is in store for Gap? Only time will tell. Stay tuned for the news on this once former retail icon.
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