Gap Stores Turning to China for Profit, Scales Back on U.S. Stores

Gap heads oversees seeking sales

By Arlene Borenstein
|  Friday, Oct 14, 2011  |  Updated 8:22 PM EDT
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Gap Scaling Back in U.S.

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The Chinese will likely be donning more items from the Gap.

The retailer is scaling back on its U.S. stores, but opening up 15 new stores in China.

Gap, Inc. is planning to reduce the amount of its North American stores by 34 percent. That would bring the total of stores down to 700 by the end of 2013. Their aim is to have 45 stores up and running in China by the end of 2013.

There are 29 Gap, Gap Kids and Baby Gap stores in the Washington and Baltimore areas, but the clothing chain hasn’t announced which markets would see the closings, according to the Washington Business Journal.

The company, which operates the Gap, Banana Republic and Old Navy stores, is trying to stay afloat as many retailers struggle with the sluggish U.S. economy.

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