Gap has been struggling recently to get people in their doors. Their sales have gone down, they’ve had a revolving door of executives, and their clothing is well, uninspiring. What was once a redefining brand in the 1990’s consumer culture has lost its touch.
The company announced that it will be closing 175 (roughly one-quarter) of it’s stores in the United States and eliminating 250 corporate jobs. Although they did not specify how many store employees will be let go, there are 141,000 full-time and part-time employees worldwide.
TBH, it’s not exactly surprising. I mean, when was the last time you heard someone say they wanted to go to Gap? Hopefully this plan works or else this 90’s icon could disappear forever.