Gap Closing 1/5 of All US Stores

GapGap is one of the few stores that I remember being around since my earliest days.

(Remember that "Fall into The Gap" jingle, anyone?)

I don't often shop there anymore, but I do like to hit it up when I'm looking for a basic pair of pants or jeans.

So I was sad to read the news that Gap plans to close a fifth of its U.S. stores by 2013.

But the news isn't all bad --

and you might be surprised to learn why.

 

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That means that 189 total Gap stores will be closing across the country. I hope they don't close the one here in Nashville!

The news isn't all bad, though -- at least, if you live in China. Gap will increase the number of stores there from 15 to 45 by the end of next year.

According to news reports, Gap is simply doing what a number of retailers are doing now that Americans are spending less in a shaky economy -- moving stores into other countries where consumers are buying.

Sad, isn't it?

Gap will keep all its outlets in place, as well as its Old Navys, although existing Old Navys may be getting smaller. That makes sense, since every mom I know is a total Old Navy devotee, both for themselves and for their kids.

And executives say they haven't decided yet exactly which Gaps will close. They'll be looking at performance date over the next several months before making a decision.

What do you think of the news? Are you surprised that the iconic Gap will be closing (some of) its doors?


Image via WTForever21/Flickr

h/t: Huffington Post

 

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