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Gap Links Future to Mobile Expansion

The future for Gap Inc. is digital and global. At least that’s the latest vision from Gap CEO Art Peck and senior managers to Wall Street analysts at the company’s annual investor’s meeting Tuesday in San Francisco. On Monday Gap, No. 18 in the  Internet Retailer 2015 Top 500 Guide, announced it would take a one-time charge of $140 million to $160 million mostly in the second quarter to fire 250 people at its San Francisco headquarters and close 175 stores Gap stores over the next two years, including about 140 this year. “Returning Gap brand to growth has been the top priority since my appointment four months ago,” says Peck, who was named CEO in February.

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