Gap is going online-only in the UK and Republic of Ireland with news on Wednesday that it’s closing all 81 of its stores in the British Isles, rather than just the 19 that had already been announced for closure in July.
Fourteen international markets and counting. Primark has opened its first Czech Republic store in Prague as the value fashion and lifestyle retailer continues to expand its footprint across Central and Eastern Europe.
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.
M&S has delivered a bleak full-year earnings report, although the bad news was far from unexpected. In year to April 3 — which included three lockdowns during which its clothing departments were shut — sales plummeted.
Budget shoe retailer Shoe Zone on Tuesday reported a loss for the six months to April 3 on the back of lower sales, although this was hardly a surprise given how weak the footwear category has been during lockdowns.
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.