Gap Canada stores to be included in North American closures, parent company says

230 stores are set to close

People walk by a Gap store in Pittsburgh on Aug. 31, 2017. The parent company of retailer Gap says it will close some stores in Canada as part of a global plan to shutter almost half of the brand’s locations over the next two years. (THE CANADIAN PRESS/AP, Gene J. Puskar)

The parent company of retailer Gap says it will close some stores in Canada as part of a global plan to shutter almost half of the brand’s locations over the next two years.

Gap Inc. is refusing to tell The Canadian Press exactly how many of the 230 stores it is closing will be in Canada, but says the majority of international network closures will be in North America.

READ MORE: HBC shuttering Home Outfitters across Canada

The company says in an email that the move was part of the brand’s commitment to “thoughtfully and decisively” address stores that are underperforming.

The company is expecting the closures to deliver an annualized sales loss of about US$635 million, but says the move should bring about $90 million in annual pre-tax savings.

Gap says it hope the closures and moves it is making to modernize its marketing will help it develop future growth in its stores, outlets and online offerings.

The company also announced plans to split its brands into two publicly traded companies with Old Navy falling into one business and Gap, Banana Republic, Athleta, Intermix and Hill City making up another.

The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

Don’t leave ice huts on lake: County of Stettler

Anglers reminded to remove ice huts from lakes prior to April 1

Stettler’s 2019 strategic plan includes downtown, park improvements

Corporate identity and branding big for Town of Stettler

Get your tickets for Big Valley Historical Society rib dinner

Proceeds go towards protecting Big Valley’s historic resources

Rosebrier Crime Watch spearheads video project for Alberta

Nine new videos help rural Albertans prevent crime

Big Valley Byemoor Endiang News

Jaydee Bixby will be performing in concert in Hanna on Sunday, March 24

VIDEO: Restaurant robots are already in Canada

Robo Sushi in Toronto has waist-high robots that guide patrons to empty seats

Women of Excellence Awards introduces ‘Women of Excellence in Construction’

Gala will take place June 19th at the Sheraton Red Deer

New Leger polls suggests federal Liberals lagging Conservatives

Overall, 31 per cent of respondents polled said they would vote for Justin Trudeau’s Liberals

Teen girl accused in plot to attack Kamloops school with weapons out on bail

Judge warned the girl she would be back in jail if she threatened to shoot anyone

Oil prices, Alberta election call cloud Stampede chuckwagon auction expectations

The top money bid last year came from Versatile Energy Services, Ltd.

Lacombe hosts 6th Invasive Species Council Conference at LMC

Council looks to protect native ecological environments in Alberta

Pot industry welcomes decreased edibles tax, but unhappy medical tax remains

Taxes can increase the cost of medical cannabis by as much as 25 per cent

‘It has to send a message:’ Broncos families await sentencing for truck driver

Jaskirat Singh Sidhu pleaded guilty to 29 counts of dangerous driving and apologized in court

MPs continue voting marathon as Tories protest shutdown of Wilson-Raybould motion

Multiple MPs have resigned from Trudeau’s Liberal cabinet

Most Read