Posted on Tuesday, December 25th, 2018 at 7:00 am
Gap has revealed that it will be closing many of its stores. The reasons is because Gap stores are not as profitable for the company as they had been in the past. Gap’s online business, however, continues to be profitable.
Gap did not specifically say how many stores would close, where those stores are located, or what their timeline is. One way to find out if the Gap near you is closing is to check your local newspaper. A more efficient way is to go online type “Gap closing” and the name of where you live.
If your local Gap has closed, there is another way to continue buying Gap products. Visit the Gap’s website. It appears that the website is making enough money for the company to keep it going. In addition to Gap, the company is also closing Banana Republic stores.
In 2017, approximately 200 Gap and Banana Republic stores were shut down. This year, the company opened up 109 new stores, most of which were Old Navy and Athleta.
CEO Art Peck said “There are hundreds of other stores that likely don’t fit our vision for the future of Gap brand speciality store, whether in terms of profitability, customer experience, traffic trends. The range from the very best to the very worst stores is extremely broad.”
Is the Gap store near you still open? Now is a good time to use up your Gap coupons. This could be the last holiday season that your local Gap store is open, so make sure to pick up some things for family and friends who love Gap products. There is a chance that a closing store will have very good sales.
You might want to hold off on purchasing Gap gift cards this holiday season. Gift cards can sometimes be difficult to use online. The brick-and-mortar Gap store near you could potentially close before that gift card gets used up.