Gap Is Closing A Quarter Of Its Stores And Cutting Jobs

``America's clothing retailers, broadly, have been expanding outlets and shuttering full-price locations in the face of growing competition from discounters like T.J.Maxx and Nordstrom Rack and fast-fashion chains like H&M and Forever 21. The industrywide price-cutting, along with declining mall traffic, has hit teen retailers particularly hard, leading to the demise of chains like Delia's, Deb, and Wet Seal in the past year.''