Gap is planning to close 175 stores so it can focus on high-performing locations, the company announced Monday.
About a quarter of its stores will be shuttered under this move, and 250 headquarters jobs will also be cut, USA Today reports. The retailer is still deciding which locations, including some in Europe, will be closed, but outlet and factory stores will not be affected. The company expects to shut down about 140 stores this year, and will continue to operate 500 Gap stores and 300 outlets.
"We're focused on offering consistent, on-brand product collections and enhancing the customer experience across all of our channels, including a smaller, more vibrant fleet of stores," Jeff Kirwan, global president for Gap Inc., said in a statement. In the first quarter, same-store sales fell 10 percent, compared to 5 percent in the same time period last year.
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