Gap Closes 175 Of Its Northern American Stores

On Monday, Gap said it will close out 175 Northern American stores also a “limited number” of Gap stores in Europe over the next few years.

The company said the layoffs will mainly affect employees at its San Francisco headquarters with about 250 jobs being cut.  The brand has been struggling for a few years now. Gap reported dismal sales for the first quarter of 2015, down 10% from last year.  After the closures, the company will have 500 specialty Gap stores in North America, as well as 300 outlet stores

Gap executives will give more details on the changes in an investor meeting on Tuesday at 9 a.m. PST.

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