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Gap to shutter a third of US stores, expand globally
MSNBC ^ | 10/14/2011 | Al Olson

Posted on 10/15/2011 10:18:43 PM PDT by RobertClark

Gap, ubiquitous in malls across America, will reduce the number of its U.S. stores to 700 by 2013, a 34 percent decline from 2007, the company announced Thursday.

Although it is shrinking its retail footprint in the U.S., the company announced it is expanding Gap and Banana Republic stores in China, Italy and South America. It is planning on tripling its Gap stores in greater China from roughly 15 at the end of this year to about 45 by the end of 2012, according to the press release.

Another one of its brands, Old Navy, will make its debut outside of the United States in 2014, with an outlet in Japan.

The company would not estimate the number of U.S. jobs that will be eliminated.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: bananarepublic; economy; gap; obamanomics; oldnavy; recovery
The Obama recovery continues unfettered...........
1 posted on 10/15/2011 10:18:46 PM PDT by RobertClark
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To: RobertClark

It as 20% of the stores yesterday

2 posted on 10/15/2011 10:21:55 PM PDT by InvisibleChurch (welcome dies irae)
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To: RobertClark
"Good, I am glad those greedy corporate losers are leaving the USA, they should be punished on the way out... Also, where are the jobs?"


Brain dead liberal (redundant) protestor

3 posted on 10/15/2011 10:27:10 PM PDT by BookmanTheJanitor
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To: RobertClark
..what's keeping others like K-mart afloat?
4 posted on 10/15/2011 10:36:58 PM PDT by de.rm ('Most people never believe anything you tell them unless it isn't true."-Groucho Marx)
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To: All

The “99%ers” haven’t bought new clothes in a few months...

5 posted on 10/15/2011 10:42:35 PM PDT by Rodney Dangerfield (To make a Conservative angry, tell him a lie. To make a Liberal angry, tell him the truth.)
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To: RobertClark
Most teens around here stopped shopping at the GAP a long time ago, replaced by Hollister and American Eagle. The AE jeans are comfy,
IMHO. And I'm no teen!
6 posted on 10/15/2011 11:34:09 PM PDT by MacMattico
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To: MacMattico

GAP has lost it’s appeal.

As far as jeans go, I wear Diesel as well as Rock & Republic (hard to find). Both jeans range in the mid 200’s but I get deals on E-Bay.

7 posted on 10/16/2011 12:26:56 AM PDT by eaglestar
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To: eaglestar

“Both jeans range in the mid 200’s”

Wait... 200, as in 200 dollars?

8 posted on 10/16/2011 1:38:23 AM PDT by PastorBooks
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To: RobertClark
No problem, jut clearing out the dead wood. All the way back to the sixties, whenever there was a downturn one or more of what had been popular clothing stores downsized, sold and changed focus, or even went out of business. Also, since there are all the protests against the, "evil rich", it means another cycle that has been going on since the sixties will take place.

All those well heeled folks cheering on the scum in the streets will now have to shift from relaxed wardrobe to conspicuously expensive wardrobe and not expensive "street people" duds. Naturally, the crowd who wants to prove they're hip will do the same so we'll be seeing the "right crowd" swing towards a more civilized appearance any time now. Not that they'll change their attitude in any way, they'll just adopt different attire like styles from "Mad Men" or some other recently fictionalized bygone era when people didn't go everywhere in their pajamas and flip flops.

On the other hand, I could be wrong. Things may just continue downhill until most people go shopping in their stained boxer shorts or elephant sized bikini panties (day of the week imprint optional). I remember when you could do a bit of innocent girl watching at any mall because people cared how they looked. Now you have to keep your eyes on the floor as much as possible to avoid all the punctured, tattooed, tattered, tubby, twits, toddling through. And that's if you can find a decent mall that still has any traffic.

9 posted on 10/16/2011 2:15:04 AM PDT by Rashputin (Obama stark, raving, mad, and even his security people know it.)
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To: MacMattico
Gap changed its positioning since the company started to own the trifecta of Banana Republic, Gap, and Old Navy. Before, Gap was targeting middle-class teens and young adults. Now, that segment is served by Old Navy, and Gap moved up one level to a bit expensive store, but still lower than the top notch Banana Republic.

Hollister and AE compete directly with Old Navy, not Gap. I think Gap is against A&F.

10 posted on 10/16/2011 3:01:11 AM PDT by paudio (0bama is like a bad mechanic who couldn't fix your car; he just makes it worse. Get somebody else!)
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To: RobertClark

GAP - going where the people actually have some money to make a purchase.

Wait until the left’s Occupy-Wall-Street gets their anti-business agenda rolling full speed here in the USA.

11 posted on 10/16/2011 3:23:20 AM PDT by Iron Munro (Obama's secret: "Once you learn to fake sincerity you've got it made")
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To: paudio

GAP has been selling overpriced low-quality clothing for a while now. I regularly get GAP gift card from a relative that works there and can’t find anything worth buying. Any department store, even Wal-Mart, will have better quality and selection at a lower price.

Oh, it also doesn’t help that kids have nicknamed GAP “Gay And Proud”

12 posted on 10/16/2011 3:34:31 AM PDT by NY.SS-Bar9
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To: Rashputin

Oddly enough, I saw one of the occupy youts wearing a waistcoat on one of the news programs.

13 posted on 10/16/2011 3:57:19 AM PDT by AFreeBird
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To: RobertClark

Maybe if the Gap produced decent clothes they may be doing better.
As it is they have crap.

14 posted on 10/16/2011 4:00:07 AM PDT by Joe Boucher (FUBO)
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To: PastorBooks

Yep as in $200

Rock & Republic

Diesel (Made in Italy)

15 posted on 10/16/2011 6:44:29 AM PDT by eaglestar
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