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Jun 30, 2021 · Just a few weeks ago, 19 store closures were announced - now the rest of them will close as well. Gap blamed what it described as market dynamics - in other words, the huge shift to internet...
- Four reasons why Gap is closing its shops in the UK
Famed for its hoodies and sweatshirts, fashion brand Gap has...
- Four reasons why Gap is closing its shops in the UK
- It failed to adapt. Image source, European Press Agency. Experts say that the chain, which began in San Francisco selling only Levi's and LP records, fell behind with fashion trends in recent years.
- Too many discounts. Image source, Getty Images. Whilst offering money off can be appealing for customers, Gap did it too often, says Natalie Berg. She thinks Gap customers had "promotional fatigue" from too many 50%-70% sale offers.
- Not distinctive enough. Retail experts also argue that Gap increasingly failed to stand out from the crowd and didn't keep up with changing trends across its core customer group.
- It had too many shops. Image source, Ben Birchall. Covid has accelerated the difficulties for many retailers, with many big chains closing stores and famous names such as Debenhams disappearing from the High Street completely.
- It failed to adapt. European Press Agency. Experts say that the chain, which began in San Francisco selling only Levi's and LP records, fell behind with fashion trends in recent years.
- Too many discounts. Getty Images. Whilst offering money off can be appealing for customers, Gap did it too often, says Natalie Berg. She thinks Gap customers had "promotional fatigue" from too many 50%-70% sale offers.
- Not distinctive enough. Retail experts also argue that Gap increasingly failed to stand out from the crowd and didn't keep up with changing trends across its core customer group.
- It had too many shops. Ben Birchall. Covid has accelerated the difficulties for many retailers, with many big chains closing stores and famous names such as Debenhams disappearing from the High Street completely.
On Thursday, the company revealed that it would be shutting shop “in a phased manner” between the end of August and the end of September. As for the reason, a Gap spokesperson simply said the...
Jun 10, 2021 · Today a company spokesman said: “We are proposing to close 19 Gap stores that have leases ending at the end of July 2021. These leases are not being extended due to the strategic review...
Jun 9, 2021 · Gap has announced it will close 19 stores in the UK and Ireland this year after reporting losses of £740m in just three months. Gap did not say which stores would close or how many...
Jun 9, 2021 · Gap is reportedly set to permanently close 19 stores across the UK and the Republic of Ireland once leases expire on July 31.
