Gap
Gap Inc. will shut down around 230 of its stores, which makes up nearly half of its branches, all over the world in the following two years. The corporation plans to turn Old Navy, its sister company, into a separate business because it is doing far better than both Gap and Banana Republic in terms of sales. The Gap Stores that remain open, together with Athleta, Banana Republic, Hill City, and Intermix, will start to operate under NewCo.
Gap
H&M
Who would have thought that H&M might not be the mall staple it used to be when this year comes to a close? The clothing retailer hopes to optimize business and announced the closure of 160 stores this year. They are making this move as the U.S. remains to be a particularly difficult market for this brand, though it has been displaying steady growth abroad. With this in mind, the fast fashion giant plans to open 355 more stores this year, though most of these will not be in the United States and Europe.
H&M
