Gap, Talbots Closing Over 300 Combined Stores

Facing decreases in same-store sales and shrinking customer bases, Gap and Talbots are planning to close a combined 300-plus stores over the next two years. By 2013, Gap plans to close 200 of its 900 locations, 22 percent of its current total, and Talbots will shutter 110 of its 580 units, a 19 percent decrease.