Gap
Gap Inc. is planning to shut down around 230 stores all over the globe in the next two years! This is basically half of its total locations. The company plans to revamp Gap’s sister company, Old Navy, as a different business. Apparently, Old Navy is faring much better than Gap and Banana Republic when it comes to sales. It also plans to operate its brands like Hill City, Athleta, Intermix, Gap, and Banana Republic under its new name, NewCo. Let’s see how it goes.
Gap
H&M
H&M might be one of the most popular stores among teenagers, but it might not be a mall staple anymore. This year, the company plans to shut down 160 stores in the name of optimization. It arrived at this decision after struggling to stay afloat in the U.S. Luckily, it is seeing steadier growth abroad. The company wanted to open 355 new stores this year, but it will be outside of Europe and the U.S.
H&M