Mega Brand GAP Is Closing 230 Stores

March 2, 2019 theboss

Gap Inc. is the latest major brands to announce store closures in response to declining sales. Why should this get you excited?

“Gap Inc. will be closing 230 of their underperforming GAP stores worldwide over the next two years, many of them in the US and some in Canada. It’s one of several moves the company has decided to make in order to cut back on costs and boost profits.”

Ok so guess where they will focus sales… Online correct!

They haven’t said, but they will.

So all these major brands closing down and moving online is your starters pistol to launch your brand.

“We’re confident these closures will play an important role in revitalising the brand,” the Gap Inc. CEO said during a call with investors, USA Today reports. The stores remaining will need significant work – namely, getting reduced in size.

Many of the stores will be shut by the end of 2019.

“Following a comprehensive review by the Gap Inc.board of directors, it’s clear that Old Navy’s business model and customers have increasingly diverged from our specialty brands over time, and each company now requires a different strategy to thrive moving forward,” says Gap Inc. chairman Rob Fisher.

So where most people fear this type of news, others are buying brands and driving online sales. A connected brand with great SEO, Social traffic and screaming fans will rise quickly in a world where the internet is everything.

As humans we have got lazy, so understand how your audience shop, chill, drink, party and make love and you’ll be growing your business faster than you can handle it!


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