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

Man wants guilty plea revoked in 2012 collision in Abbotsford that killed Chilliwack woman

Michael Larocque was charged in relation to crash that killed Eileen Kleinfelder

Agassiz study to look at drone use for pesticide application

The study will be the first in Canada to use drones to apply pesticides to farm fields

OPINION: The very least seniors deserve is a little dignity

City council made the right decision to stop five-storey apartment next to retirement residence

PHOTOS: History brought to life at engine show in Chilliwack

Machine history fires up at Atchelitz Threshermen’s Association site

GW Graham basketball star Geevon Janday joining Dalhousie University Tigers

The senior goes from Pacific to Atlantic coast, continuing his hoops career in the U-Sports ranks.

B.C.’s fight to regulate bitumen through pipelines to go to Canada’s top court

BC Appeal Court judges found B.C. cannot restrict bitumen flow along Trans Mountain pipeline

Scheer says it would take Conservatives five years to balance budget

Scheeraccused the Liberal government of spending $79.5 billion of previously unbudgeted funds

High-risk sex offender released into Surrey

Earon Wayne Giles, a Newton “tag-team rapist,” was released from prison Friday and is now living in Surrey

Vancouver woman sexually assaulted after man follows her home; suspect at large

Police are looking for an Asian man in his 40s after the incident on Vancouver’s east side.

B.C. man, 30, arrested for driving his parent’s cars while impaired twice in one day

The Vancouver-area man was arrested after officers caught him driving impaired twice in one day

UPDATE: Vancouver man dies after crash between motorcycle, transport truck

Police believe speed was a factor in Thursday collision

Trial slated to start Monday for accused killer of Abbotsford cop

Oscar Arfmann faces first-degree murder for death of Const. John Davidson

New airline regulations bring compensation for tarmac delays, over-bookings

Some of the new regulations will roll out in July, while others are expected for December.

Body found after fire at Surrey homeless camp, police say

Surrey RCMP say the body was found inside a shed after firefighters extinguished the fire

Most Read