Gap Inc. today announced that it will close 21 percent of its U.S. stores.
There is only one Gap store in Colorado Springs. It’s located at the Chapel Hills Mall at 1710 Briargate Boulevard. Staff at the store directed questions about the store’s future to corporate offices.
“With respective to providing a list of stores by region/local market, unfortunately we do not provide this level of detail publicly,” Gap spokeswoman Tamara Rosenkranz wrote in an e-mail response to questions about the fate of the Colorado Springs store.
Gap Inc. is expected to start closing U.S. stores in June, according to a release.
A press release from Gap Inc. said that the company plans to close domestic stores in order focus on international growth.
The apparel chain will concentrate on growing its presence in Chine, where it expects to add an additional 15 to 45 stores before the end of 2012.
The company is also restructuring its corporate leadership.
Art Peck, the leader responsible for growing the company’s highly-profitable Outlet business for the past three years, will take on the role of president of Gap North America, according to the release. During his six years with Gap Inc., Peck has been a primary architect of the company’s franchise business and international growth platform.
Pam Wallack, the current president of Gap Adult North America, will become head of Gap’s new Global Creative Center. As part of this role, Pam will move from San Francisco to New York to centralize creative resources, including design, marketing, fashion public relations and production, according to the release.
As part of the move to support the global business, the company also announced the selection of a new advertising agency and the appointment of a new chief marketing officer in New York. Ogilvy & Mather Worldwide will become the agency for Gap brand globally. Seth Farbman will become Gap brand’s global chief marketing officer.
In another significant shift to strengthen Gap Inc.’s North American platform, the company announced the strategic decision to merge its operation of the outlet division with the Gap and Banana Republic brands. This will bring the specialty retail stores and their value expression channels within the same organization to better reflect the shopping habits of today’s consumer and to drive efficiencies over time, according to the company.