After a strategic review of its European operations, Gap Inc. intends to shutter 81 retail locations in Ireland and the United Kingdom, The Guardian reported.
Gap noted that the retail locations would shutter sometime between late August and the end of September, and that it would keep running its eCommerce shop in Ireland and the United Kingdom.
“We believe in Gap’s global brand power. We are executing against Gap’s power plan and partnering to amplify our global reach. Through a strategic review begun last fall of our Gap European business, we conducted a thorough evaluation of each market and potential partners,” the firm noted in a statement, per The Guardian.
As part of the review, the firm also intends to sell its French and Italian retail locations.
The news comes as designer clothing retailer Ted Baker is testing pop-up stores in smaller municipalities. The U.K.-based firm is struggling with sales because city life has not gone back to the pre-pandemic “normal.” Over a third of Ted Baker’s retail locations are in big cities and shopping centers. However, with the new strategic redirection, the merchant plans a pilot of “extremely short leases” of under six months in smaller municipalities and shopping centers.
Walmart and the Gap inked a multi-year deal to forge a new home décor brand. The Gap is aiming to garner additional customers, while Walmart is looking to fuel more eCommerce sales, per a published report.
Gap Home, the new brand, was set to roll out on June 24 on the Walmart website. There were to be approximately 400 products, ranging from bath items to bedding and decorative accessories, priced from just under $16 to slightly below $65.
“Through partnerships, we can extend the reach of our brands to customers across product categories, markets and channels,” Gap CFO Katrina O’Connell previously told investors.
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