Clothing company Gap Inc. has announced to close 189 Gap stores in the US as the company expands its brands internationally, sources reported.
The closures, along with a plan to downsize many of its Old Navy stores, is part of the retailer’s previously announced strategy to reduce its North American square footage in 10% by the end of 2013.
Meanwhile, the company plans to expand its international and online business with the goal of making them account for 30% of its total revenue by 2013.
The company, which already has a presence in 90 countries, plans to increase its Gap stores in China from 15 to 45 stores by the end of this year. Additionally, the company said online orders in China “were logged from over 330 cities, covering all parts of the country.”