Biz: The Gap shrinks its gap significantly, says it’s “natural pruning”
- 21% of U.S. Gap stores will fall into the Gap … for good source
- » But they’re expanding in China: Why the change, you ask? It’s all a part of the “natural pruning” process for the company, which is streamlining its supply chain. High quality global journalism requires investment. “I’ll be the first to say that our stores have not been executing with the consistency that they need to execute at in order to deliver the kind of brand experience that we are committed to delivering,” said the company’s North American president, Arthur Peck. The company plans to cut back on some of the poorly-performing stores, open up a few more outlet stores, and boost its presence in Asia. No word on a new logo.