Another Retailer Set To Close Stores
Yet another store with Quad City ties is set to close 200 stores.
According to WQAD, CNN Money is reporting 200 underperforming Gap and Banana Republic stores are set to close. Gap is the parent company of Banana Republic, as well as Old Navy and Athleta which will see 270 new stores opening in the next three years.
Store closures have become familiar throughout the retail sector, as traditional store chains struggle to attract foot traffic with a growing number of consumers choosing to shop online. Last month, Sears Holdings added another 28 Kmart locations to its list of 330 Sears and Kmart stores that it has already shuttered or plans to close by the end of this year.
J.C. Penney and Macy’s have also said they would shutter dozens of locations, and specialty clothing chains like Bebe, The Limited and Rue 21 have closed or intend to shut down all of their brick and mortar storefronts.
Gap officials say the company has successfully beefed up their digital business.
No word yet on if any stores in the Quad Cities will be effected.