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

Chilliwack’s pediatric observation unit gets financial shot from trades workers

Unions and contractors donate more than $30,000 to Fraser Valley Health Care Foundation

Missing woman last seen downtown Chilliwack in late April

Family concerned for Rebecca Lynne Sackley’s well-being

Chilliwack prolific offender arrested after four months on the lam

B.C.-wide warrant issued for David Allen Geoghegan in January

Two week lock down lifted for Kent Institution

A search at the prison found nearly 26 grams of hashish and a cellphone

Harrison Hot Springs to partner with Sts’ailes for reconciliation event

The event will be funded by a grant meant to build dialogue between cities and local First Nations

Kelowna toddler suffers cracked skull after fall from balcony

Neighbour who found the two-year-old boy said he has a bump the size of a golf ball on his head

VIDEO: TransLink to roll out battery-powered bus pilot this summer

Four buses will run a 2.5 year pilot along Marine Drive

Crews fight fire with fire to keep blaze from northern Alberta town

The wildfire now covers some 920 square kilometres

Man in B.C. charged with murder and arson in 2016 New Brunswick death

He is charged in the death of 71-year-old Lucille Maltais, who was found inside a burned down home

Public warned after man exposes himself to girl, 13, in North Vancouver

RCMP say incident may be linked to others that happened last year

Improve your life and theirs, adopt a cat from the BC SPCA

The BC SPCA holds an adult cat adoption promotion

RCMP target speeders between Abbotsford and Surrey in month-long blitz

Officers throughout the province launch Swoop campaign

RCMP probe if teen was intentionally hit with ski pole by mystery skier on B.C. mountain

The incident happened on March 20 on Grouse Mountain. Police are urging witnesses to come forward

Support growing for orphaned Okanagan child after father dies in highway crash

Family thanks emergency crews for assistance in traumatic incident

Most Read