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Gap Announces Store Closures In Next Two Years

Credit: Wochit Business
Published on February 28, 2019 - Duration: 00:32s

Gap Announces Store Closures In Next Two Years

Gap announced it will close 230 of its stores over the next two years.

The company also revealed that sales fell 7 percent during the holiday quarter.

According to Business Insider, the closings are a part of a restructuring plan.

Gap said it would close about 130 stores in 2019.

The company estimates an annualized sales loss of about $625 million because of the store closures.

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Gap Announces Store Closures In Next Two Years

MAY 14, 2014, FILE PHOTO MONDAY, AUG.

31, 2017, PHOTO

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