Find in the news:
BY COUNTRY

Gap will close 225 stores by the end of the year



American fashion retailer Gap has decided to do yet another large-scale reduction of retail chains.
Depositphotos-Gap-store

The largest American fashion retailer Gap has decided to carry out another large-scale reduction in retail chains. According to the company's press service, 225 Gap and Banana Republic stores will close around the world by the end of 2020, and in 2021 more closures are expected. 

As of August 1, 2020, the global network managed by Gap Inc. included more than 3,800 stores under names Banana Republic, Old Navy, Athleta, Janie, and Jack. Of those, 1643 stores accounted for two key chains of retailers, writes Business Insider. 

The company promised to present a more detailed plan to close stores at a meeting with investors on October 22, 2020. It is known that a significant part of the closure will be for stores located in shopping and entertainment centers. 

Over the past few years, Gap has already closed several hundred stores. In particular, in early 2019, it was announced plans to reduce 230 outlets within two years. Still, the goal was adjusted upward due to the critical situation in the market against the background of a problematic epidemiological situation. 

Last quarter Gap reported an 18% drop in net retail sales, despite an almost twofold increase in revenue through online channels. The most successful brand in the past month was Athleta, whose net sales grew by 6% and comparable - by 19%. For comparison, the revenue of Gap decreased by 28%, and Banana Republic - by 52%. To date, around 90% of retailers around the world have resumed operations after the restrictions were lifted. 

Photo credit: despositphotos.com.

More about shopping malls in the USA



DAY BEFORE YESTERDAY, USA:
Louis Vuitton opens dog-friendly 'Dog LVERS' pop-up in NYC's Soho.
Oct 31, 2024, USA:
Designed to capture Atlanta’s artistic spirit and Southern landscape.
Oct 30, 2024:
Two years after controversial split, Adidas and Ye reach mutual conclusion.
Oct 29, 2024, USA:
Expanding footprint in North America with two new locations.
Oct 28, 2024, India:
Foot Locker has launched its first store in India, setting up shop in the Nexus Select City Walk mall in New Delhi.
Oct 25, 2024, China:
Modern design inspired by Shenzhen’s spirit.
Friend
and Follow
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Plaza Singapura GLA:482 311 SF
ADDRESS: Plaza Singapura, 68 Orchard Rd, Singapore 238839
Singapore . Singapore
Plaza Singapura
Hillcrest GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us