Gap’s CEO Glenn Murphy said Tuesday says he plans to close some stores and shrink others in an effort to turn things around at the slumping retailer.
“We got carried away,” Murphy said. “All of a sudden you have larger stores than you need. We also have a store fleet that’s older than we’d like it to be.”
The company will eliminate Baby Gap and Gap Kids stores and incorporate them into their adult stores, according to CNNMoney.
Will this fix the Gap? Is less really more?