Gap Inc warned on Thursday it may not survive the next 12 months intact and would need to borrow more funds in the face of widespread coronavirus shutdowns that have crippled the business of clothing retailers globally.
Fashion and luxury brands worldwide have launched a wide ranging array of sustainable initiatives, timed to coincide with the 50th anniversary of the day dedicated to environmental reform on Wednesday, April 22.
Wednesday was another day full of announcements from U.S. retailers looking to do their part to combat the spread of Covid-19 by implementing store closures. J.C. Penney, Skechers and J.Jill were among the latest batch.
Gap Inc on Thursday said comparable sales for the fourth-quarter fell less-than-expected, as the coronavirus continues to spread across the globe causing supply chain delays and sales halts for the world's retailers.
The San Francisco-based apparel group has teamed up with the world’s largest fashion resale platform to encourage consumers to participate in the circular economy, becoming a partner in its Resale-as-a-Service program.