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

CN train derailment cleared between Terrace and Prince Rupert

The CN mainline is now open, following a train derailment mid-way between… Continue reading

Kitimat’s BC Hydro substation receives a massive upgrade

It will cost $82 million to ensure that LNG Canada has enough… Continue reading

Comment requested for Kitimat LNG’s expansion plans

Company says radical redesign means additional export is possible

Haisla Nation Council appoints Stewart, Renwick

Two recently elected Haisla Nation councillors, Kevin Stewart and Arthur Renwick, have… Continue reading

Relief in sight from open burn pollution

New regulations should cut down on air pollution

Rich the Vegan scoots across Canada for the animals

Rich Adams is riding his push scooter across Canada to bring awareness to the dog meat trade in Asia

Body, burning truck found near northern B.C. town

RCMP unsure if the two separate discoveries are related

Couple found dead along northern B.C. highway in double homicide

Woman from the U.S. and man from Australia found dead near Liard Hot Springs

UPDATE: West Kelowna fawn euthanized, not claimed by sanctuary

Gilbert the deer has been euthanized after a suitable home was not found in time

BC Wildfire Service warns wet weather no reason to be complacent

Fire risk currently low for much of B.C. compared to same time over last two years.

Bank of Canada lowers qualifying rate used in mortgage stress tests

Home sales softened last year after the federal government introduced new stress test rules for uninsured mortgages

B.C. man pleads guilty in snake venom death of toddler

Plea comes more than five years after the incident in North Vancouver

Trudeau says Ottawa open to proposals for B.C. refinery as gas prices soar

Prime minister says he knows B.C. residents are struggling and the federal government is open to ideas

Clock’s ticking to share how you feel about Daylight Saving Time in B.C.

Provincial public survey ends at 4 p.m. on Friday

Most Read