Gap to shut more stores than previously forecast

Image: Mike Mozart / CC BY 2.0

Gap announced it would shut more stores than expected as the company anticipates a bigger drop in traffic during the holiday shopping season. The company is now planning to shut down 65 stores by the end of 2016, compared with the previously forecasted 50. Gap has continually struggled to get shoppers as online retailers and fast-fashion chains offer cheaper prices in apparel. (Reuters)



Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.