Gap has confirmed that it’s to close 19 UK and Republic of Ireland stores this summer. It follows a bruising pandemic period and news backs in October that the US firm was launching a review of its European business.
Gap Inc raised its forecast for annual sales and profit, expecting an unabated surge in demand for new apparel as more people begin to step out and socialize after a year of hunkering down at home due to the pandemic.
The American fashion group announced on Tuesday that it has entered into an agreement to sell its Intermix womenswear brand to Altamont Capital Partners as it pushes forward with efforts to streamline its portfolio.
The owner of the Men’s Wearhouse and Jos. A. Bank brands has announced the appointments of John Tighe as EVP and chief customer officer, Karla Gray as EVP and chief stores officer, and Tim Cooksey as SVP of real estate.
Gap may be exiting the UK market as far as company-operated shops are concerned, but it wants to make the most of the reopening in England. It will launch a kidswear pop-up in the Westfield London mall on April 12.