-they are going to close 175 of their 675 stores, mostly in the U.S.
-they are also going to eliminate 250 corporate jobs
-they are trying to restore the brand after being surpassed by H&M and other cheap fashion chains
-they expect that these cuts will save the company $25 million annually
-the Gap-owned Old Navy chain continues to do very well
When was the last time you purchased something from Gap?