Forth & Towne, a much touted retail concept from Gap Inc., will be shuttered following an 18-month pilot program. Gap said it will close its 19 Forth & Towne stores, which were designed to cater to baby boom women, by the end of June. Forth & Towne stores are located at The Oaks and Westfield’s Topanga mall among other locations in 10 markets. Company officials said the concept didn’t show enough potential to deliver an acceptable long-term return on investment, and they plan to focus future efforts on the Gap and Old Navy brands along with other initiatives. The company said it expects pretax expenses related to the chain’s closure to be in the range of $40 million.
