FIRST AIRED: June 2, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
nnnnn gap is swinging the axe the retailer closing one hundred seventy five locations with the bulk of that happening before this year is out the store closures part of a turnaround plan explained to shareholders on tuesday two hundred and fifty workers at the san francisco headquarters are getting pink slips no word on how many store employees will lose their jobs in the process , square this location is the apparently of gaps problem take a look gap has a multi level retail outlet but ride across the street has a massive h. m. m. i've been inside the store all three floors jam packed with customer , gap has been losing market share to so called fast casual chains like h. in dem zara and forever twenty one for years these retailers adapt to changing fashion taste quickly making clothes that consumers see a stylish and are often cheaper than what's on the sales rack at gap this restructuring of the latest attempts to turn things around since new c. e. o. art peck took over in february they have been management changes and an attempt to shake things up with brighter trendier fashions , especially in women's wear gaps lower and brand old navy had a head start three years ago it hide away in h. m. m. exec with patch things up so well that last quarter oldnavy sales were almost equal to gap and banana republic combined , now management is hoping it can repeat that success