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Gap to close 175 namesake stores in North America, lay off 250 HQ employees
San Francisco — Gap Inc. on Monday lowered the boom on its biggest and most troubled division, announcing it would close 175 of its 675 namesake stores in North America over the next few years, with 140 of the closures occurring in the current fiscal year. In line with the closings, the brand’s headquarters workforce will be reduced by about 250 roles this year.
The closings will not impact Gap Outlet and Gap Factory Stores. Gap will also close a limited number of European locations, but it did not give a specific store count.
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Why digital promotions are more important than ever
Shifting landscapes can make it difficult to focus on the exciting opportunities that result from major market changes. The constant evolution of the digital space fueled by rapidly advancing technology and elusive consumer preferences may leave retailers feeling weary about digital promotions. Frustration over this seemingly unending race causes many to long for the days and simplicity of traditional print promotions.
