200 Gaps to be closed



Published:

In its earnings reports and conference call, Gap Inc. said it would shutter as many as 200 stores over the next two years, but it is unclear what, if any, impact there will be on New Hampshire.In its filings with the Securities and Exchange Commission for the quarter ended April 30, officials said they were expecting to close 125 stores across the country during fiscal 2011. They also said they're looking to open 125 new company-operated stores.In addition to several iterations of the Gap brand, Gap Inc. also owns Old Navy, Banana Republic and women's athletic apparel retailer Athleta.In his investor's conference call on June 8, Gap chairman and CEO Glenn K. Murphy said he'd like the number of Gap-branded stores in North America to be reduced to about 700 by 2013 from a current count of 900.A Gap spokesperson wouldn't tell NHBR if any of the stores in New Hampshire are slated for closure, replying by e-mail that it "does not forecast store closings by region."New Hampshire has eight Gap-branded stores, including Gap Kids, Gap Baby and Gap Outlet among others, six Old Navy stores and five Banana Republic locations. The company recently closed its Gap store at the Steeplegate Mall in Concord. - CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW Edit ModuleShow Tags