Gap to close 175 stores in North America
June 16 , 2015
Gap will close 175 stores in North America in the next few years amid attempts to boost its growth, the retailer has announced.
Some of its European stores will also be closed. About 250 jobs will be cut from the San-Francisco-based firm’s head office, it said in a statement.
Art Peck, Gap's chief executive, said that returning the brand to growth was his top priority, and the moves were taken keeping in mind the “rapidly changing” shopping practices of customers.