GAP closing lots of stores here but opening new ones in ....China.

[dixiegrrrrl]

If that don't tell you what you need to know........

NEW YORK — Gap Inc. plans to close stores in the U.S., while expanding in China.

The struggling retailer, which runs the Gap, Old Navy and Banana Republic chains, detailed plans on Thursday to close 189 locations, or 21 percent of its namesake Gap stores in the U.S., by the end of 2013. At the same time, the largest U.S. clothing chain said it plans to triple the number of Gap stores in China from about 15 by the end of the year to roughly 45 by the end of next year.

The moves are related to the company's previously stated goal of reducing its overall square footage in the U.S. by 10 percent from 2007 to the end of 2013, while roughly doubling revenue from outside of the U.S. to 30 percent by the end of the same year.

sorry, this links to the story at HuffPo:
http://www.huffingtonpost.com/2011/10/13/gap-closing-stores-us-china_n_1009897.html

[Frank Coffin]

1. Duh. Nobody's buying - because there is nobody getting paid..

That should give the government a big fat effing clue.

[Harmony Blue]

4. But but but

lower corporate tax rates would keep the jobs here. :sarcasm: :sarcasm:

[OhioChick]

2. They have jobs, we don't n/t

[Arctic Dave]

3. So, all there shit is made in China anyways.

Maybe an American clothing store will come in.

[Mnemosyne]

5. Anyone know how many employees that equals? K&R

:hi:

[abelenkpe]

6. I'm sure all the underpaid workers in china

Who live in multifamily dwellings cause no one can afford to buy the empty apartments and homes in their ghost cities will rush right out and buy up all the clothes in gaps stores.

[supernova]

7. That's OK

I never shopped at GAP anyway.