Please ensure Javascript is enabled for purposes of website accessibility

Gap Temporarily Closes All U.S. Stores Effective March 19

By Demitri Kalogeropoulos - Updated Mar 18, 2020 at 10:13AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The retailer joins its peers in pausing its physical selling operations until early April.

Gap (GPS 4.32%) this week joined many of its retailing peers in announcing widespread store closures tied to the COVID-19 outbreak in parts of the United States.

Starting on March 19, the apparel giant will shutter its retail locations across all its brands, including Gap, Old Navy, and Banana Republic. This initial shutdown will last for 14 days and is aimed at maximizing social distance in the critical early period of coronavirus' spread.

"To assist in the efforts under way to slow the spread of the coronavirus," incoming CEO Sonia Syngal said in a press release, "we are closing all stores in North America for the next two weeks."

A woman stands on a mall escalator.

Image source: Getty Images.

Gap intends to provide pay and benefits to all store employees impacted by the closings. From there, the retailer is hopeful that it can quickly return to full capacity and work toward improving on a fiscal 2019 year management called "challenging and disappointing." Sales declined 3% last year compared to a 1% drop in 2018.

Projecting ahead to the eventual return of a normal operating posture, Syngal said, "we look forward to welcoming our customers back in our stores soon."

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

The Gap, Inc. Stock Quote
The Gap, Inc.
$11.60 (4.32%) $0.48

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/28/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.