On June 15, Gap joined a sizable list of big-name retailers such as Sears (SHLD) and Abercrombie & Fitch (ANF) to shutter stores en masse to combat pressured profits. Gap said it will close about 175 Gap brand stores in North America over the next few years, with about 140 closures occurring this fiscal year.
"These are stores that largely operate at or above our minimum brand standards," said Gap CEO Art Peck on a call with analysts explaining the headline-grabbing maneuver. Peck went on to say the stores earmarked for closing didn't warrant an investment in a remodel due to population shifts around the mall and greater online shopping.
After its latest store closing campaign, it will operate 800 Gap stores in the U.S., way down from the chain's peak in the early 2000s, when it had over 1,400 stores in the U.S.
TheStreet takes a look at five other major retailers that are significantly shrinking their store empires. The stores are ranked from the smallest decline from the retailer's peak to the largest.