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

Governor General’s Award-winning author launches her new book

Wendy Phillips’s ‘Baggage’ is told in experimental ‘free verse’ style

Pirates climb to first place in premier league

Mid Island baseball team wins four more to extend win streak to eight games

Nanaimo city councillors to hold e-town hall meeting on strategic priorities

Meeting will take place May 23 at the Vancouver Island Conference Centre

Editorial: Homelessness task force has to be more than misdirection

Task force won’t be able to address all the challenging issues that come before Nanaimo council

Nanaimo Heritage Festival helps highlight the long weekend

Parade and family activities took place downtown today, May 19

Nanaimo youth theatre group presenting ‘Hairspray Jr.’

Headliners director and actors agree musical’s message continues to resonate

Nanaimo ferry stops to let bear swim past

Queen of Oak Bay brakes for wildlife

Take-home drug testing kits latest pilot to help curb B.C.’s overdose crisis

Researchers look to see if fentanyl testing could be a useful tool for those who use drugs alone

Two cats die in house fire in Nanaimo

Fire happened just after 2 p.m. Sunday on Fifth Street, one resident displaced

Nanaimo author details hotel history along the E&N railway

Along the E&N tells the story of 32 establishments from Esquimalt to Campbell River

RDN looking into providing bus service 365 days a year

RDN transit committee to consider adding bus service on Christmas, New Year’s and Good Friday

Wheelchair basketball in Nanaimo accessible to all abilities

Harbour City Slam play day introduced newcomers to the sport

Speed limit lowered at Departure Bay Beach

Speed limit reduced to 40 km/h until the fall

B.C. VIEWS: Reality of our plastic recycling routine exposed

Turns out dear old China wasn’t doing such a great job

Most Read