In a move to recover from the ongoing sales slump, clothing retailer GAP plans to close one-fourth of its stores in North America over the next few years.
A company spokesperson in a statement said that it would close 175 of its 675 stores in North America, of which about 140 will close in the current fiscal year.
The company's decision is expected to have an impact on the US job market with the company saying around 250 jobs would be cut in San Fransisco and New York.
The company is also planning to shut a few outlets across Europe.
GAP has reportedly seen a 10 percent drop in same-store sales for the quarter through May 2 resulting in an eight percent decline in earnings to $239 million.
After ruling fashion culture through the 1990s, GAP's functioning has been largely affected by uninspiring fashion, employee departure and management blunders, according to reports.
