Gap to Close 700 U.S. Stores by End of 2013

October 13, 2011 Updated Oct 13, 2011 at 3:10 PM EDT

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Gap to Close 700 U.S. Stores by End of 2013

October 13, 2011 Updated Oct 13, 2011 at 3:10 PM EDT

Gap plans to close 700 U.S. stores and downsize others by the end of 2013, according to a story in the Los Angeles Times.

The apparel retailer is shifting its focus toward international expansion, according to the report. The downsizing represents a 34-percent decrease in the number of U.S. Gap stores compared to the end of 2007, according to the Times story.

Read the Los Angeles Times story HERE.