16.06.2015 - Gap will close 25% of stores in North America
US retailer Gap announced its intention to close about 175 stores of the same name in North America or about 25% of the total number over the next few years. According to the company approximately 140 stores will be closed this fiscal year. The move will save near $ 25 million in 2016 year. We expect improved performance of the company in the coming quarters and a modest growth of quotations this year by 7-10%.