GAP to Close 175 Stores, Eliminating Thousands of Jobs

Gap, Inc recently revealed they will be closing 175 of it's nearly 700 stores across the country over the next few years.

According to the New York Times, the company is blaming the store closings to a sales slump over the past number of years at many of their locations. Gap says that 140 of the stores will close within the year, and more will continue to shut their doors a few years down the road to total 175 store vacancies.

The company says that their over 300 Gap Outlet stores will not be affected by the upcoming closures. The NY Times also says that in addition to stores closing in North America, that some locations in Europe could see closures too.

We haven't heard specifically yet, if any stores will close locally in Greater Danbury or the Hudson Valley, and we certainly hope that doesn't happen. With the already planned closings, the company could see layoffs up in the thousands, including 250 corporate layoffs.

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