Friday, October 14, 2011

GAP To Close 189 US Stores

Obamanomics...


Go to any mall in a decent-sized city, and you'll find a Gap store, maybe a Banana Republic or Old Navy.
Well, maybe you won't. Gap (GPS) said Thursday it plans to cut its North American store count from 889 to 700 by the end of 2013, a decline of 21.3%. From the end of 2007, it represents a 34% decline in store count.
The company said it is not going under. "We are focusing on a smaller and healthier fleet in North America," Chief Financial Officer Sabrina Simmons told a New York investment conference Thursday. It does $14 billion to $15 billion a year in sales.
Mooch will have to keep shopping at Target I guess.


3 comments:

Woodsterman (Odie) said...

It's no longer important to be the best dressed in the bread lines.

Adrienne said...

I've never even stepped foot in a GAP. I go into Target about once a year because their crap is way overpriced. Haven't been in the Spokane Valley Mall in years and the mall in Cd'A sees the whites of my eyes about once per year.

Randy-g said...

Adrienne...Where do you shop? The dreaded Walmart?