Gap to shutter a third of US stores, expand globally
By Al Olson
Gap, ubiquitous in malls across America, will reduce the number of its U.S. stores to 700 by 2013, a 34 percent decline from 2007, the company announced Thursday.Although it is shrinking its retail footprint in the U.S., the company announced it is expanding Gap and Banana Republic stores in China, Italy and South America. It is planning on tripling its Gap stores in greater China from roughly 15 at the end of this year to about 45 by the end of 2012, according to the press release.
Another one of its brands, Old Navy, will make its debut outside of the United States in 2014, with an outlet in Japan.
The company would not estimate the number of U.S. jobs that will be eliminated.
The move is designed to improve the company’s margins as the retailer — like others in the sector — struggle for profits in the economic downturn.
“The combination of our global strategy and formidable growth platform puts us in a strong position to expand our reach into the top 10 apparel markets worldwide,” Glenn Murphy, chairman and CEO of Gap Inc. said. “In North America, we’re taking a number of steps to improve sales in the near-term, and I’m confident that with a strong management team in place, we’re well positioned for sustained growth across the business.”
Declining cotton prices will also help profits, according to Sabrina Simmons, Gap’s chief financial officer.
According to Bloomberg News, the company said it plans to return operating margins to 2010 levels. Gap's operating income was 12.8 percent of its sales in its fiscal 2010, according to Bloomberg data. The measure narrowed to 9.9 percent in the quarter ended in July.
Shares of Gap rose slightly on Thursday.
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There you have it, my friends. The Gap is closing stores here and opening stores in countries where U.S. companies have shipped our jobs...China and South America.
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never been there. never will. I'm not their demographic.
- 11 votes
swschrad-2362342
What are you than??? And thanks for not going there.
What are you than??? And thanks for not going there.
- 1 vote
A human being? Someone that wears clothes? What do you think their demographic is?
- 1 vote
Just come to show where all the jobs went, Notice that all those countries now make the bulk of our products and we wonder why We're Fu_ked
- 14 votes
Hey... no worries, this is one of those "low paying, crimpola jobs" that none of the Wall Street Demonstrators want anyway, right?
It's Obama's "shovel ready" jobs they're all waiting for!!!
It's Obama's "shovel ready" jobs they're all waiting for!!!
- 7 votes
You nailed it, oneguy. Most of these snot nosed kids don't want to start working in retail anymore like most of we Americans have been doing for generations starting out in our first jobs as teens. No, they expect a "livable" wage right in their first job with full benefits and health care.
These people have lost their work ethic, and it's only the beginning of the downward spiral. I'll bet you a cool Benjamin that if you offered ANY of those jobless Occupiers in New York or elsewhere around the nation a job that required manual labor for $10-12/hr like a warehouse job they'd laugh in your face (or spit in it).
No, this is generation Z. Zzzzzzzz for sleeping through life and expecting everything to be given to you without earning it, and without merit.
These people have lost their work ethic, and it's only the beginning of the downward spiral. I'll bet you a cool Benjamin that if you offered ANY of those jobless Occupiers in New York or elsewhere around the nation a job that required manual labor for $10-12/hr like a warehouse job they'd laugh in your face (or spit in it).
No, this is generation Z. Zzzzzzzz for sleeping through life and expecting everything to be given to you without earning it, and without merit.
- 6 votes
Not to diverge from the previous posts, but I haven't shop at the Gap for at least 10-15yrs. Their clothes are cheaply made and unflattering unless your the size of one of their mannequins. In fact, the state of womens fashion in this country is and has been for quite some time just awful. I have not bought women's clothing, except for a few items in many years. I have been reduced to the mens dept.
Please!!!!!!!! anyone out there who buys these styles please do a 180 degree turn. I am tired of large print tops that make everyone look like their 6 months pregnant. Not to mention bell bottom pants, ugh!!!
Please!!!!!!!! anyone out there who buys these styles please do a 180 degree turn. I am tired of large print tops that make everyone look like their 6 months pregnant. Not to mention bell bottom pants, ugh!!!
- 7 votes
justoneguy and 10tacle you didn't nail it, you both missed. My boyfriend who just graduated with a masters degree did apply at a few of these retail positions and got rejected. Besides if these places are losing money then why would they higher? By the way retail jobs pay more than min wage and include benefits...
Your attack on "these people" is off base with this article. Not to mention just guessing about people you don't personally know...
Your attack on "these people" is off base with this article. Not to mention just guessing about people you don't personally know...
- 3 votes
Their clothes are cheaply made and unflattering unless your the size of one of their mannequins. In fact, the state of womens fashion in this country is and has been for quite some time just awful.You are so right! High end women's clothing is great, but the more mainstream brands you find at Sears, JCP, etc. are just plain tacky and awful! I rarely get to buy myself clothes because I prefer to pay a little more for a more lasting product, good thing I have a classic taste and live in the midwest where you're not expected to be fashionable. I would be doomed if I lived in LA or NYC.
- 1 vote
My boyfriend who just graduated with a masters degree did apply at a few of these retail positions and got rejected.Risha - if your boyfriend has a newly minted masters degree, why is he applying for a lowly retail job? What's his "masters" in there, liberal arts? I highly doubt it's an MBA or Master of Science degree. Sounds like he didn't put much thought in the course, so to speak, of his education. There are MANY jobs out there, but not many people qualified to FILL them. And your boyfriend was probably considered "overqualified" and they rejected him.
Besides if these places are losing money then why would they higher? By the way retail jobs pay more than min wage and include benefits...Some do, some don't. It also depends on if you go part time or full time with regards to benefits. I was referencing PART time with the youths comment and all. I know. I've been there and done that both in high school and in college (that I worked my way through vs. getting a student loan and asking it to be forgiven).
Your attack on "these people" is off base with this article. Not to mention just guessing about people you don't personally know...I saw the people interviewed and listened to them. Anytime I see someone say they don't know what they are protesting yet carry $80k in student debt and expect it to be written off while wasting time protesting DESERVES to be "attacked" (YOUR words, not mine, Risha).
- 1 vote
Since people in the U.S. are being laid off and can't afford shopping at places like GAP and Banana Republic, they are just shipping their stores along with their jobs to other countries for a profit. Typical U.S. corporations trying to make money while creating more unemployment here in America. I used to sometimes shop at Banana Republic for clothes for work or going out out, but not anymore! I always thought those stores were pretty gay anyways!
- 2 votes
To have seen a few people interviewed and assumed that this was the attitude of the majority is called a generalization. Secondly, while it is true that there are some that will refuse a $10-12 an hour a job, for no valid reason, it seems like the time where you were able to work your way through college was a time when tuition was not $20-$40k a year, secondly not everyone has the aptitude to obtain a "science degree", after all would you want a barely competent doctor performing heart surgery on you because he was told that thats where the jobs were? In addition, not everyone has the priviledge to live in their parent's basement, if someone did take a $10/hr job in nyc, they would be making $400 before taxes, and about $345 after taxes a week, which leads you to a monthly salary of $1380 a week, and even in the most crime infested areas of NYC you would be hard pressed to find a studio for less than $900 a month, so now're left with a disposable income of $480, let's say you don't go anywhere on the weekends,EVER, but you have to get back and forth to work at metrocard fare of $4.50 per day, which totals $90 month, now your dispoable income is at $390 a month, let's say you don't want to live in the dark and you need gas because you can't afford to eat out, the gas and electric bill that will run you about $80 a month in NYC ;taking into account the winter months, so now we're down to $310, but wait what if your mother dies or your house in on fire whie you're at work? The cheapest you can get a cell phone bill is at $80 a month, so now you have $230 in your pocket, but wait, you have to eat, let's say you eat 3 packs of ramen noodles a day, a bottle of juice and water for the week,something that will cost you about $24 a week, $96 dollars a month. Now're you're done to $134 with no cable, no internet, still needing to buy a bar of Irish Spring, a toothbrush, toothpaste and deodorant, hoping that you don't get sick or injured because you have no insurance, plus you can't afford to miss a day of work, literally, and this fun cool thing called your credit is being screwed up, because you have yet to make a payment on your student loans.."It is always better to die like men, than live like dogs"
- 6 votes
Today57, That was truely awesome. I just had the same reality check with my Teenager. Just to encourage her to continue to excell in school. And to want for a better life, than some of her contemporaries. Great Job, breaking that down for the College Graduate.
- 1 vote
10tacle: My husband has his MBA. When he graduated in 2006, despite his degree and business experience, he couldn't get a job. He has since joined the Navy and earned a 2nd Master's in Health Admin. Point being, jobs aren't so easy to come by just because you have a certain Master's Degree.
Overall, the Gap is closing stores because they aren't making money. They are not making money because their clothes are atrocious. I used to shop there all the time for my kids, but their clothing for the past 4-5 years is god awful. They need to fire their designers, go back to what worked before, and then they could keep the stores open. Same thing for Old Navy....cheaply made, overpriced, and hideously ugly.
Overall, the Gap is closing stores because they aren't making money. They are not making money because their clothes are atrocious. I used to shop there all the time for my kids, but their clothing for the past 4-5 years is god awful. They need to fire their designers, go back to what worked before, and then they could keep the stores open. Same thing for Old Navy....cheaply made, overpriced, and hideously ugly.
- 1 vote
Gap was a really great store for basics when they had a lot of cotton and solid colors. It has been sad to see the decline to cheap, non-natural fabrics, loud prints and sort of tacky designs. They used to have cotton socks and basic t-s and shorts, etc. well made, comfortable, simple and cotton. Now the socks are polyester blends and so seem to be most of what's there. It simply is not the store it was that had such a loyal following. I wish they could get back to their original concepts.
#1.16 - Fri Oct 14, 2011 1:51 AM EDTYou act like this job situation and outsourcing of America just began 3 years ago when in fact it was a process begun under Reagan's deregulation and Republican led free trade and corporate tax policies begun in the 80's!
We've been hemorrhaging manufacturing jobs for a generation and now you Blame Obama-ites think it can be turned around on a dime.
The fact of the matter is the Wall Street demonstrators are on a different topic although the jobless situation is the clearest manifestation of what they're saying. But the big picture their speaking about stems from deregulation, insane investing in essentially legal pyramid schemes, continued outsourcing not just because of cheap labor but lack of gov't incentives for corporations to invest in America, disproportionate "free trade" agreements....etc.
These are the things that led to the recession on top of two costly wars the American people were gung ho to support, but not willing to pay for. You people need to stop being so naive and think for a change. We - the American people - who demand cheap crap, want to live the high life on credit and not take responsibility for our actions - are all part of the problem.
There is no magic bullet and the protests are about 4 presidents too late. We have the highest GDP on the planet save combined Europe, pay among the lowest taxes, demand the cheapest stuff, and for a generation was silent as our once great manufacturing base went overseas. I'm as frustrated at everyone else that I haven't seen Made In America on my s**t in generations, a reason I avoid the Targets and WalMarts and pay the extra from the boutiques. But most American's can't afford to be so righteous with kids to feed, ridiculously high health care and shrinking salaries.
We've been hemorrhaging manufacturing jobs for a generation and now you Blame Obama-ites think it can be turned around on a dime.
The fact of the matter is the Wall Street demonstrators are on a different topic although the jobless situation is the clearest manifestation of what they're saying. But the big picture their speaking about stems from deregulation, insane investing in essentially legal pyramid schemes, continued outsourcing not just because of cheap labor but lack of gov't incentives for corporations to invest in America, disproportionate "free trade" agreements....etc.
These are the things that led to the recession on top of two costly wars the American people were gung ho to support, but not willing to pay for. You people need to stop being so naive and think for a change. We - the American people - who demand cheap crap, want to live the high life on credit and not take responsibility for our actions - are all part of the problem.
There is no magic bullet and the protests are about 4 presidents too late. We have the highest GDP on the planet save combined Europe, pay among the lowest taxes, demand the cheapest stuff, and for a generation was silent as our once great manufacturing base went overseas. I'm as frustrated at everyone else that I haven't seen Made In America on my s**t in generations, a reason I avoid the Targets and WalMarts and pay the extra from the boutiques. But most American's can't afford to be so righteous with kids to feed, ridiculously high health care and shrinking salaries.
- 1 vote
Justonejerk... Hope the day comes soon you are personally Shovel-Ready, because the smells from your post show your brain is starting to rot!
#1.18 - Fri Oct 14, 2011 3:18 AM EDT
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Their downfall is not being able to attract as many highschool kids as in the past. When highschoolers labeled GAP clothes as standing for "Gay And Proud" it wasn't exactly the most popular clothes to wear. I haven't seen a jr high or highschool student wear their clothes in years.
- 15 votes
#2 - Thu Oct 13, 2011 6:37 PM EDTThe real question here is; Why are you watching Jr. High Schoolers?
- 14 votes
Christopher that was a very goo done, slap the phobe where he lives
- 1 vote
So now all these highschoolers are hanging out at Abercrombie and Fitch with their giant posters of half-naked teens. Hmmmm.... LOL
- 3 votes
I think they became lost with their brand. At one time they had better quality merchandise and more of a selection. Their products became cheap looking and they had a few styles and that was it. All of their merchandise was pretty boring. The last two times I was in there, they had nothing I cared to buy for any price.
Interesting to note the # of stores they are opening in China where they are also sending the jobs. China's middle class is growing and the measly 380 million Americans won't be important to their bottom line when they have a new consumer base of 1.4 billion. Anyone else see where this is going.... next it will be India and their 1.2 billion consumers. Soon we won't have anywhere to shop at all except Walmart.
Interesting to note the # of stores they are opening in China where they are also sending the jobs. China's middle class is growing and the measly 380 million Americans won't be important to their bottom line when they have a new consumer base of 1.4 billion. Anyone else see where this is going.... next it will be India and their 1.2 billion consumers. Soon we won't have anywhere to shop at all except Walmart.
- 8 votes
The real question here is; Why are you watching Jr. High Schoolers?Maybe he/she has kids. Maybe he/she is involved in a youth program at church. Or, maybe, JUST maybe, that person is an educator. Ever think of those reasons for "seeing" grade school kids, brainiac? And another thing: you really think a pedophile will be wasting time on a blog like this? You fail at humor.
- 10 votes
Christopher Antonacci
The real question here is; Why are you watching Jr. High Schoolers?Did you ever think for one second that "Parents" may go shopping with their kids?? Do you not think that parents are not the ones that shop for the Jr. High School students and/or pay the bills for their kids to shop there??
I guess I stumbled on to the wrong site considering all of the childish comments within the first 20 postings!!
- 9 votes
"Another one of its brands, Old Navy, will make its debut outside of the United States in 2014, with an outlet in Japan." - That is incorrect. Old Navy stores have been in Canada since 2001.
- 8 votes
Wait, you're saying that Canada is not part of the United States? When did that start?
- 18 votes
Ah yes, our little brothers to the North, the 51st state. ;-) hehehe
- 4 votes
Fat chance on that buddy, we aren't warmongers up here. Keep your crap south of the border, PLEASE!
- 12 votes
You tell them LetsPlayFair... It would be soon before you see these kids running from the draft into the Country with out there "Gap"...haha
- 1 vote
We're trying, but the feds won't allow us to secure the southern border.
- 9 votes
When Russia pushes their gas and oil exploration into your territorial waters you will be hollering for us warmongers to come to your aid EH?
- 8 votes
Thanks for pointing this out. I, like, JUST came from an Old Navy in BC when I sat down to read this....
- 2 votes
Ward sorry Canada is really just the US Suburbs,,,you know it, we know it.
Name something original from Canada
And DOn't say Celine Dion
Name something original from Canada
And DOn't say Celine Dion
- 3 votes
You people in this post laughing at Canada might not be the best thing to do. Would you rather get your oil from the same people that want to blow up your country or Canada ? When your water system is dry (and it`s coming quicker) Where will you go ? What is happening on your southern borders ? How about your northern borders (safe & secure)!
- 7 votes
Name something canadian? Try the telephone- Basketball- I don't have to say Celine Dion but anyone in Nevada would, with a gracious smile. Ski-doos,Sea-doos, snowblowers.
- 1 vote
golliegee:
I think our friends in the Northern Hemisphere don't need to be bushwacked by their neighbor to the South. We've got enough people around the world that are growing tired of our uglyness.
Consider the fact that I said "uglyness".....for many of them - the best of the USA, when we're capable of demonstrating the "best" of us....is still pretty darn good.
Just a thought.
When Russia pushes their gas and oil exploration into your territorial waters you will be hollering for us warmongers to come to your aid EH?Think about it abit my friend. The Canadians have served side by side US forces in many conflicts, and have questioned few, other than those that deserved questioning.
I think our friends in the Northern Hemisphere don't need to be bushwacked by their neighbor to the South. We've got enough people around the world that are growing tired of our uglyness.
Consider the fact that I said "uglyness".....for many of them - the best of the USA, when we're capable of demonstrating the "best" of us....is still pretty darn good.
Just a thought.
- 5 votes
...got that right Bart... tho... I do fear those Canadian beer cartels pushing their 6% ABV sudsy drugs on our population.
- 2 votes
You know, I am sick and tired of reading this types of articles. Personally, I think that it is a slap in the face by these companies. First, they ship all the American jobs overseas, literally force us (Americans) into poverty and they wander why unemployment is so high, please give me a break. They are closing American stores and opening stores in China; you dare ask why, because it is the Chinese people that are working. I am getting sick and tired of this. America is quickly on its way to becoming a third world country. Anyone that can't see it is a fool. Seriously, when did it become acceptable to just close stores for no logical reason? All you big whigs at these companies, think about it, if you keep sending our jobs overseas, we will never be able to afford your goods which by the way are so cheap that its pathetic, but what choice do we have but to buy it, everything comes from CC (Cheap China). I am sure by now, the accountants, buyers, CEOs, and whoever have figured out that they are not really saving any money by producing goods overseas, sure you its cheaper labor, but total up all costs of getting the merchandise shipped back over to Good ole America; Oh I forgot, the poor consumer eat all those costs too. My fellow Americans, I just don't know!
- 1 vote
Gap is a lousy place to work. I have heard numerous stories from young people about constantly on-call but rarely getting called, you get fired if you don't come in on-call. That means you can't hold down another part-time job or go to school. No way to treat people. It's one of the reasons I won't shop there for myself or or my kids. I wish the old retired people here would talk to some actual young people about what it is like to work in them modern economy. I can tell you many stories about abusive working situations, constant un-paid on-call. Working "Per diem" which means only on-call. Fired for calling in sick, fired for being sick, working 80 hours a week illegally with no overtime. Fired for being in class or at another job while on-call. Sexual harrassment. Being told to working at a restaurant while having diarrhea (fancy restaurants too), The old idea of working for a family business and being treated fairly and like family are a cruel joke.
- 2 votes
Let the Gap and all it's other stores pull up and leave. Take them all. Other stores will fill right in and they will never be missed. Good riddence.
- 1 vote
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"The company would not estimate the number of U.S. jobs that will be eliminated."
Sounds like to me they don't WANT to give that number, for it puts more people out of work. Good quality of clothes (at least last time we bought from them) but too expensive.
Sounds like to me they don't WANT to give that number, for it puts more people out of work. Good quality of clothes (at least last time we bought from them) but too expensive.
- 9 votes
#4 - Thu Oct 13, 2011 6:50 PM EDTSo you don't buy the clothes because you think they're too expensive, but it's their fault they have to close 1/3 of their stores. try to think about that, but don't hurt yourself.
#4.1 - Thu Oct 13, 2011 10:17 PM EDTGap is too expensive for me now. So I don't really care. I'm one of the millions layed off. Oh well. No shopping for me anytime soon.
- 8 votes
#5 - Thu Oct 13, 2011 7:00 PM EDTbuildingnewdreamsDeleted
There you have it, my friends. The Gap is closing stores here and opening stores in countries where U.S. companies have shipped our jobs...China and South America. And now The Gap is essentially eliminating jobs here and sending them overseas as well, because that's where economies are booming and people have jobs and money.
The CEO of GE was on "60 Minutes" last Sunday bragging about all the jobs he's created in Brazil. Nice. And he couldn't understand why the American public isn't "rooting for GE." Well, sir, that's kind of like the chickens rooting for Colonel Sanders.
The CEO of GE was on "60 Minutes" last Sunday bragging about all the jobs he's created in Brazil. Nice. And he couldn't understand why the American public isn't "rooting for GE." Well, sir, that's kind of like the chickens rooting for Colonel Sanders.
- 32 votes
#6 - Thu Oct 13, 2011 7:05 PM EDTYes and we can thank the overreaching gov't for making agreements such as NAFTA and for the excessive regulations and taxation that kill small businesses which kills the jobs which means people don't have as much money to shop which means stores like the GAP will close here and open abroad. We are turning into a third world country thanks to gov't policies. People keep thinking that we are immune to being a third world country because we have never been. Just because we have never been doesn't mean it can't happen. It is already happening.
- 10 votes
Great answer! I will not buy GE, Gap, Old Navy and many others. You can tell the products are from sweat shops!
- 6 votes
I agree Robbie! When that jeff emmelt of ge was bragging all the jobs he shipped overseas as obamas advisor .I wished I could have revoked his citizenship and put the f'er against the wall.
- 10 votes
RHcrest. You are somewhat confused. NAFTA and other trade agreements are actually government removing import taxes and quotas on trade between the treaty countries. To me that looks like less government, not more, something you guys are always begging for. Import quotas and taxes kept American companies at home, since even with lower wages overseas the total cost with import taxes would be higher in their major market - the USA. Tear down the fence of taxes and quotas with "free trade" and the American companies become multinational and run away with their jobs. Now tell us again, are you for more government involvement in trade, or less?
- 4 votes
love reading all of the above. needed to laugh a little. its sad that those people will be unemployed. yet while more jobs go across the water.
- 3 votes
He was talking about the excess taxes and regulations on american businesses and the free trade agreements with other nations making it harder to compete with them.
I don't believe he's asking for smaller or larger government, just smater government that our interests and not corporate interests as a priority.
I don't believe he's asking for smaller or larger government, just smater government that our interests and not corporate interests as a priority.
- 5 votes
NAFTA:
Conceived by Reagan Administration (1986)
Proposed and negotiated by Bush 19
Treaty signed by Bush Dec 1992
Voted for by a majority of Republicans in Congress Nov 1993 Vote Details:
Finally Clinton signed the Republicans Bill Dec 1993
Bush 2 Defended and Expanded Nafta 2008
Simple facts
Conceived by Reagan Administration (1986)
Proposed and negotiated by Bush 19
Treaty signed by Bush Dec 1992
Voted for by a majority of Republicans in Congress Nov 1993 Vote Details:
The House of Representatives approved NAFTA on November 17, 1993, by a vote of 234 to 200. The agreement's supporters included 132 Republicans and 102 Democrats. NAFTA passed the Senate 61-38. Senate supporters were 34 Republicans and 27 Democrats.Passed through Congress by Newt Gingrich 1993
Finally Clinton signed the Republicans Bill Dec 1993
Bush 2 Defended and Expanded Nafta 2008
Simple facts
- 3 votes
Robert757A. What you are describing is still governmental interference. Do You own a small or medium sized business? Do you have a comprehensive grasp of the number of federal regulations affecting those businesses? There are departments of federal regulation created to to enforce other departments of federal regulation and on and on. It has been a tangle of strangulation for years. This all becomes nit picking however since the now, rapidly expanding one world order effectively and inexorably put in motion by self-proclaimed 'internationalists' has accelerated creation of an integrated global political and economic structure. The goal is to facilitate economic globalization- the EU,OAU,APEC and the American Union into one central bank and monetary system, one police force, one governing body, one military force and, one judicial system. This will take some time but has been a work in progress for years and now does appear to be inevitable. So The Gap seems to be quite a small fish in that pond and not really worth thinking about much unless you are the one losing your job in which case it may very well be a big deal in this job market."Free Trade" and multinationalism are here to stay. Too bad it's currently doing so much damage to the people, the economy, here, now. Hopefully it will work out well world-wide in the long run. Just hope the ''invisible government'' [ Theodore Roosevelt label] has gotten it right.
- 2 votes
How stupid of those people to work in a bipartisan way back in the nineties Really 132 rebubs and 102 dems, how many rebubs voted against? and how many dems?
And the audacity of those Senators 34 repubs and 27 dems how dare they work together for the good of mankind.
And the audacity of those Senators 34 repubs and 27 dems how dare they work together for the good of mankind.
- 2 votes
Most would think those government regulations that are a stifling pain in the ass to small businesses come from the government just because they want to make life difficult for everyone. I recently had a nice chat with a good friend of mine from high school that is now an independent artisan cheese-maker in Michigan and is having issues with FDA regulations. She said the regulations regarding dairy processing are at the behest of the large corporate dairy processors because they can afford to meet those ridiculous regulations while small, local businesses like hers do not have the time, manpower, or money to meet them. This is how they deal with competition. Kill it while it is small. And use the government to do their dirty work. Screw the government, I'm afraid of the corporations!
- 5 votes
Kudo's Robert as you nailed Immelt right where his mom will feel it LoL. A big salute to you sir.
- 1 vote
The One World conspiracy theory is old and dead and stupid. Gimme a break do you really see any national leader voluntarily giving up their precious power for a "One world goverment".
- 1 vote
UrbanPrsn--The One World financial style isn't a conspiracy and it isn't about giving up having apparent national leaders. It's about having organizations like the IMF, to which 187 countries belong, overseeing the global financial system. The international bankers and corporations prefer for you to think One World is old and dead.They didn't want you to think about in the first place. If you wanted to you could look up the stated goals of the FTAA in 2004 which I included in my reply to Robert757A.
#6.13 - Fri Oct 14, 2011 2:10 AM EDTadvertisement
In 1999 their stock was selling for 65.00 a share now 19.00. Couldn't stay focused on who their customer was. Talked service but cut payroll. Big disconnect between reality and perception.. signed ex- GAP employee who owns too much stock. :(
- 6 votes
#7 - Thu Oct 13, 2011 7:08 PM EDTAGREED! I work for banana republic and they have streched us real thin on payroll expecting us to be super humans. the ivory tower dwellers have no idea what truly goes on in the stores..sad...
- 3 votes
I think that is happening at most retail establishments. Went to Urban Outfitters in Tempe with my son recently and asked to see a pair of shoes (kept in the back). Clerk was on the register and she said she'd get them when she finished with the line. The line never got smaller and she kept ringing. I dumped the other items he was going to buy and we left.
- 2 votes
Going to close stores here, put americans out of work, boost profit margins by employing lower waged people outside of the US, and still probably get tax breaks here... see a trend anyone?
- 11 votes
#8 - Thu Oct 13, 2011 7:11 PM EDTThe timing is so sick when American need jobs so desperately!!! @!$%# Gap!!! I wish they run out of business completely in U.S.
- 3 votes
...Two sides to this story.
I happen to be an online retailer, some truth to it, is that, if Americans are cutting back spending due to unemployment, or uncertain if they will loss their job tomorrow, then these stores are effected obviously, which means they cant stay in business. Not sure if they intentional want to put Americans out of work, but. A sensable statment would be, how do they survive staying in business? Second, dont blame the retailer for currency exchange, ah, yeah, you forgot to explain this part, while America is so expensive to live, and China, well, maybe cheaper, and Americans mimimal wage factor compaired to china.... Do the math here, so. No one in amercan is gonna work for china wages....So, lets start by taking a bit out of The greed factor here, then maybe level out the currency to were, hey! Maybe, it wont be soo expensive to live here..
As for the tax breaks, i suggest donating to a worthy childrens non profit..Get to the "root" of things...lol
I happen to be an online retailer, some truth to it, is that, if Americans are cutting back spending due to unemployment, or uncertain if they will loss their job tomorrow, then these stores are effected obviously, which means they cant stay in business. Not sure if they intentional want to put Americans out of work, but. A sensable statment would be, how do they survive staying in business? Second, dont blame the retailer for currency exchange, ah, yeah, you forgot to explain this part, while America is so expensive to live, and China, well, maybe cheaper, and Americans mimimal wage factor compaired to china.... Do the math here, so. No one in amercan is gonna work for china wages....So, lets start by taking a bit out of The greed factor here, then maybe level out the currency to were, hey! Maybe, it wont be soo expensive to live here..
As for the tax breaks, i suggest donating to a worthy childrens non profit..Get to the "root" of things...lol
- 1 vote
...Two sides to this story.
I happen to be an online retailer, some truth to it, is that, if Americans are cutting back spending due to unemployment, or uncertain if they will loss their job tomorrow, then these stores are effected obviously, which means they cant stay in business. Not sure if they intentional want to put Americans out of work, but. A sensable statment would be, how do they survive staying in business? Second, dont blame the retailer for currency exchange, ah, yeah, you forgot to explain this part, while America is so expensive to live, and China, well, maybe cheaper, and Americans mimimal wage factor compaired to china.... Do the math here, so. No one in amercan is gonna work for china wages....So, lets start by taking a bit out of The greed factor here, then maybe level out the currency to were, hey! Maybe, it wont be soo expensive to live here..
As for the tax breaks, i suggest donating to a worthy childrens non profit..Get to the "root" of things...lol
I happen to be an online retailer, some truth to it, is that, if Americans are cutting back spending due to unemployment, or uncertain if they will loss their job tomorrow, then these stores are effected obviously, which means they cant stay in business. Not sure if they intentional want to put Americans out of work, but. A sensable statment would be, how do they survive staying in business? Second, dont blame the retailer for currency exchange, ah, yeah, you forgot to explain this part, while America is so expensive to live, and China, well, maybe cheaper, and Americans mimimal wage factor compaired to china.... Do the math here, so. No one in amercan is gonna work for china wages....So, lets start by taking a bit out of The greed factor here, then maybe level out the currency to were, hey! Maybe, it wont be soo expensive to live here..
As for the tax breaks, i suggest donating to a worthy childrens non profit..Get to the "root" of things...lol
- 1 vote
Companies are in business to make a profit, not to provide you with a paycheck. Two outrageously BAD things that Unions have done: #1 Give workers the idea that companies owe them something just because they exist. #2 That you should be paid high wages for menial tasks. Take these two ridiculous ideas and add a bad economic environment and bingo you get UNEMPLOYED. Once upon a time it was an Honest days work for an Honest wage. Now Unions tell you the light bulb needs changing so you sit down for the next hour, until the Electrical union guy gets there to change the Light bulb. Union bosses going to tell you this is the right thing to do, but you know in your heart its dumber than hell. A 5 year old could change the bloody light bulb. And worse yet, you think you should be paid for the hour you sit on your butt doing nothing. You can't blame companies for wanting workers who are willing to work.
- 7 votes
Companies don't exist in a vacuum, they are essentially "citizens" of this nation. Hence, they have a moral obligation to help their fellow citizens. Yes, they must make a profit, but this is a complex world and a focus soley on the bottom line is not enough. Companies have obligations to their fellow citizens because it is those people that have helped that company succeed. Companies need to consider if they are doing the greatest good possible.
- 3 votes
Rolk, you need to understand that the employees do not run the corporation, board members do. The board members have a primary obligation to produce and increase profits. They have no moral obligation to citizens. The obligation is to increase profits for share holders.
That's why they shouldn't have so much power in politics.
That's why they shouldn't have so much power in politics.
- 3 votes
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Our government needs to tax them for this. They are eliminating jobs in the United States and giving them to China, Italy, and South America. They won't say how many American's they will put out of work. I realize they are a private company, but our country needs to do something about this. I would say let's boycott, but that just puts more American's out of work.
- 1 vote
#10 - Thu Oct 13, 2011 7:13 PM EDT...Two sides to this story.
I happen to be an online retailer, some truth to it, is that, if Americans are cutting back spending due to unemployment, or uncertain if they will loss their job tomorrow, then these stores are effected obviously, which means they cant stay in business. Not sure if they intentional want to put Americans out of work, but. A sensable statment would be, how do they survive staying in business? Second, dont blame the retailer for currency exchange, ah, yeah, you forgot to explain this part, while America is so expensive to live, and China, well, maybe cheaper, and Americans mimimal wage factor compaired to china.... Do the math here, so. No one in amercan is gonna work for china wages....So, lets start by taking a bit out of The greed factor here, then maybe level out the currency to were, hey! Maybe, it wont be soo expensive to live here..
As for the tax breaks, i suggest donating to a worthy childrens non profit..Get to the "root" of things...lol
#10.1 - Thu Oct 13, 2011 8:15 PM EDTI happen to be an online retailer, some truth to it, is that, if Americans are cutting back spending due to unemployment, or uncertain if they will loss their job tomorrow, then these stores are effected obviously, which means they cant stay in business. Not sure if they intentional want to put Americans out of work, but. A sensable statment would be, how do they survive staying in business? Second, dont blame the retailer for currency exchange, ah, yeah, you forgot to explain this part, while America is so expensive to live, and China, well, maybe cheaper, and Americans mimimal wage factor compaired to china.... Do the math here, so. No one in amercan is gonna work for china wages....So, lets start by taking a bit out of The greed factor here, then maybe level out the currency to were, hey! Maybe, it wont be soo expensive to live here..
As for the tax breaks, i suggest donating to a worthy childrens non profit..Get to the "root" of things...lol
Think everybody owes you, do you? And why is that? Because you exist? Because you're the perfect employee? Because you never try to beat the time clock?
- 2 votes
Clark:
If we're going to discuss who owes who. Let's think about it a bit. This countries way of life, and its adherence to the promise of capitalism, to the point of going to "arms" to protect that economic model, is expensive both in the dollars we pay to support this country and even more expensive when it comes to the lives of those we sacrifice to ensure the continuance of this way of life.
Now....the bottom line comes when we have to start considering the value....and it hasn't happened yet....but beware....it will. What is the value of the sacrifice....if the benefits of the capitalistic system only accrue to those making investments on other shores and supporting the foreign populace with jobs that raise their standard of living while the standard of living on our shores dissolves?
Doesn't it make sense that the sacrifice need come from those that accrue the benefit? Don't forget us and don't cast us easily aside.
Talk about who owes who?
If we're going to discuss who owes who. Let's think about it a bit. This countries way of life, and its adherence to the promise of capitalism, to the point of going to "arms" to protect that economic model, is expensive both in the dollars we pay to support this country and even more expensive when it comes to the lives of those we sacrifice to ensure the continuance of this way of life.
Now....the bottom line comes when we have to start considering the value....and it hasn't happened yet....but beware....it will. What is the value of the sacrifice....if the benefits of the capitalistic system only accrue to those making investments on other shores and supporting the foreign populace with jobs that raise their standard of living while the standard of living on our shores dissolves?
Doesn't it make sense that the sacrifice need come from those that accrue the benefit? Don't forget us and don't cast us easily aside.
Talk about who owes who?
- 1 vote
whole system needs an overhaul. GAP can go f--- themselves along with every other corporation and thier top execs
- 9 votes
#11 - Thu Oct 13, 2011 7:13 PM EDTWe as USA citizens need not complain,we must buy only made in USA, must not buy any merchandise at all from these companies moving our jobs to other countries. We must stand by this ,we don't need there merchandise, we only need these jobs that are taken out of our country. BOYCOT ALL OF THEM.
- 4 votes
Perhaps nobody will notice the gap in the market, well I guess they didn't.
- 2 votes
#12 - Thu Oct 13, 2011 7:16 PM EDTThe issue is their greed & stupidity during the boom years. They opened waaaay too many stores. In my area of North Scottsdale, AZ I can be at 3 in 20 mins, including one just opened in the last 3 months. Plain stupid. Old Navy will be next. 2 within 10 minutes.
And I disagree. Between the brands they own: Banana Republic, Gap & Old Navy: all 3 have dropped their quality over the last decade. I was a diehard BR shopper until the new regime that took over in ther early 00s & they lost their way.
American retail thought they were indestructible & that combined with the foreign made crap they overstocked their shelves with is the real reason wht retail is failing.
Oh & the lousy service you get due to the cheap labor dollars they spend.
And I disagree. Between the brands they own: Banana Republic, Gap & Old Navy: all 3 have dropped their quality over the last decade. I was a diehard BR shopper until the new regime that took over in ther early 00s & they lost their way.
American retail thought they were indestructible & that combined with the foreign made crap they overstocked their shelves with is the real reason wht retail is failing.
Oh & the lousy service you get due to the cheap labor dollars they spend.
- 6 votes
#13 - Thu Oct 13, 2011 7:17 PM EDTAnother rat deserts the sinking ship..and creates a bigger hole for the ship to fill up with water. Buy American only sounds better all the time. I won't buy anything that is made in China, Vietnam, Taiwan,etc.
- 3 votes
Have fun sitting around naked and starving with no computer to type your idiotic comments on.
- 1 vote
Couldn't said it any better myself!
#13.4 - Thu Oct 13, 2011 11:37 PM EDTadvertisement
Well if uncle sam gets smart and puts an import tax on incoming stock made oveseas from former american manufacturers we may get some of these companies to move back to stateside territory this country might grow again.I f not so be it.
- 4 votes
#14 - Thu Oct 13, 2011 7:18 PM EDTThe last thing we need is more stores. Go to any mall. There are more than enough to choose from. The GAP simply lost market share to other retailers and that is the beauty of competition. Consumers decide who wins and who fails, not the government.
#14.1 - Thu Oct 13, 2011 7:25 PM EDTPeter:
Your comment:
And, we sincerely wish there would be some explanation of the relation of what happens on wall street and it's relation to consumption There should be, there used to be. There doesn't currently appear to be any understandable correlation.
#14.2 - Thu Oct 13, 2011 11:45 PM EDTYour comment:
Consumers decide who wins and who fails, not the government.Wish that were true when it comes to banks and money lenders as well as cloth and linen distributors.
And, we sincerely wish there would be some explanation of the relation of what happens on wall street and it's relation to consumption There should be, there used to be. There doesn't currently appear to be any understandable correlation.
Colapse..Do you find it amazing that the news is not covering even 1/2 of what is going on? What happened to investigative reporters?
I know this has nothing to do with the GAP...But did anyone see anything at all about I believe was the 5th Republican Anti abortion bill since like March, maybe Feb? Odd that our "less govt" repubs are into this yet again!
#14.3 - Fri Oct 14, 2011 1:10 AM EDTI know this has nothing to do with the GAP...But did anyone see anything at all about I believe was the 5th Republican Anti abortion bill since like March, maybe Feb? Odd that our "less govt" repubs are into this yet again!
Well, guess I won't be shopping at GAP anymore! Any company that closes its door to the U.S. work force does not get my business!!!
- 5 votes
#15 - Thu Oct 13, 2011 7:19 PM EDTPrice hierarchy is Banana Republic, GAP, and Old Navy. BR was always way overpriced, and GAP too. Old Navy was affordable but their clothes were so cheap you only got one season out of them.
- 2 votes
#16 - Thu Oct 13, 2011 7:20 PM EDT“The combination of our global strategy and formidable growth platform puts us in a strong position to expand our reach into the top 10 apparel markets worldwide,” Glenn Murphy, chairman and CEO of Gap Inc. said. “In North America, we’re taking a number of steps to improve sales in the near-term, and I’m confident that with a strong management team in place, we’re well positioned for sustained growth across the business.”
This agglomeration of buzzwords has virtually no actual meaning either generally or in the context of the story at hand. Can someone who has so little ability to articulate have any measure of vision required to lead this or any other company?
This agglomeration of buzzwords has virtually no actual meaning either generally or in the context of the story at hand. Can someone who has so little ability to articulate have any measure of vision required to lead this or any other company?
- 6 votes
#17 - Thu Oct 13, 2011 7:20 PM EDTMaybe he gets an extra bonus if he can pack one hundred pounds of bull@!$%# into one paragraph.
- 4 votes
golliegee that's pretty much what they get their obscene bonuses for.
#17.2 - Fri Oct 14, 2011 1:23 AM EDTLousy quality--used to shop there years ago. Most of the retailers who compete with Gap are the same--quality is crap and styles and sizes made for skinny 14 year old girls. Those great soft Gap tshirts of ten or fifteen years ago long went by the wayside. They need to get people from the real world in there and tell them what will sell and won't--couldn't do worse than what they have done.
- 1 vote
#18 - Thu Oct 13, 2011 7:29 PM EDTSo they are closing 360 stores. At even just 20 employees per store that's 7,200 jobs lost. But, they are low paying retail jobs so not much of an impact I would guess.
#19 - Thu Oct 13, 2011 7:32 PM EDTWith the number of malls in the US and the number of malls in large metropolitan areas it's clear they had too many retail outlets. GAP has, to this day, stores in locations that are little more than large strip malls. Far too easy for most people to get to one of their stores anyway - let alone in a bad economy where people have curtailed spending.
#20 - Thu Oct 13, 2011 7:32 PM EDTI really couldn't care less, except for more job loss. I use to shop at the GAP all time, for jeans, sweaters, work clothes, didn't really think it was expensive...but....now it is because of the lack of quality of their mechandise. They may have kept more loyal consumers had the quality not turned into what it is. No consistency for sizing and very cheap materials. Even Old Navy has gone downhill and it was much to start.
- 1 vote
#21 - Thu Oct 13, 2011 7:34 PM EDTThey started using really crappy quality fabrics and workmanship. When they sell in China, they will be selling @ the same price as here, but without paying for the oveseas shipments. AND there will be fake GAP stores all over the place,and in 25 years all of their market will be dying from the pollution...
- 2 votes
#22 - Thu Oct 13, 2011 7:34 PM EDTadvertisement
Problem with Gap has not been price. Quality of clothes in terms of durability isn't at question either. I also have not had a bad customer service experience. However, my experience tells me that they have shifted to using cheaper raw materials to increase margins (e.g. quality of the merino wool). However, the biggest problem with Gap has been dull style. It has sucked for at least the last 5 or 6 years. Dull colors and sloppy looks. This is what will cause their target market to run to other brands (i.e. JCrew and note JCrew is more expensive). I do remember the last thing I bought from Gap, which was a shirt I bought 4 years ago and still wear regularly. I step into their stores from time to time to keep an eye out to see if they have revamped their clothing. A month or two ago I stepped into a mid-town Manhattan Gap store. I browsed the entire men's section and I could only find one piece that I would consider spending my money on and it was the first item they had stacked as you walk in. In my mind I thought, "this is your Mid-town Manhattan store and all I could find is this one item...this company is in trouble". They don't need to close stores what they need to do is hire fresh designers and put quality materials back into their clothing and the people will come back. However, market forces at this time may not allow that or financially the company may be at the point of no return. I wish them luck to turn around the brand and business.
- 2 votes
#23 - Thu Oct 13, 2011 7:39 PM EDTDid anyone notice the typo in the heading of the article? It says shuttering, not shutting..... I'm sad GAP is closing some stores and people are loosing their jobs. But it also makes me sad that writing and proofing have become a lost art.
- 1 vote
#24 - Thu Oct 13, 2011 7:39 PM EDTI believe that when the headline reads "to shutter" they are implying closing the shutters on the windows/doors of a business. Also, as someone concerned with proofing you would think you would use correct spelling. It's losing their jobs, not loosing.
- 3 votes
Just a note, it's "losing" - not "loosing". Slightly ironic you're pointing out spelling errors when you've made one yourself.
- 4 votes
Shuttering stores is a term that is used all the time:
From the dictionary
shut·ter
(shtr)
n.
1. One that shuts, as:
a. A hinged cover or screen for a window, usually fitted with louvers.
b. A mechanical device of a camera that controls the duration of a photographic exposure, as by opening and closing to allow light coming through the lens to expose a plate or film.
2. shutters Music The movable louvers on a pipe organ, controlled by pedals, that open and close the swell box.
tr.v. shut·tered, shut·ter·ing, shut·ters
1. To furnish or close with shutters: locked the doors and shuttered the windows.
2. To cause to cease operations; close down: shuttered the store for the holiday.
From the dictionary
shut·ter
(shtr)
n.
1. One that shuts, as:
a. A hinged cover or screen for a window, usually fitted with louvers.
b. A mechanical device of a camera that controls the duration of a photographic exposure, as by opening and closing to allow light coming through the lens to expose a plate or film.
2. shutters Music The movable louvers on a pipe organ, controlled by pedals, that open and close the swell box.
tr.v. shut·tered, shut·ter·ing, shut·ters
1. To furnish or close with shutters: locked the doors and shuttered the windows.
2. To cause to cease operations; close down: shuttered the store for the holiday.
- 1 vote
Color me enlightened - I didn't know Gap owned Old Navy. Never shopped at the Gap, but bought a LOT of Old Navy merch until the last few years when their buyers decided that plain navy, gray, olive, and burnt orange were the only colors (basically) that were going to be offered. Hope those 'buyers' go overseas.
- 1 vote
#25 - Thu Oct 13, 2011 7:40 PM EDTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. You're in XHTML Mode. If you prefer, you can use Easy Mode instead. (XHTML tags allowed - a,b,blockquote,br,code,dd,dl,dt,del,em,h2,h3,h4,i,ins,li,ol,p,pre,q,strong,ul) |
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