Post by account_disabled on Feb 27, 2024 7:16:16 GMT
Gap Inc. is the largest American clothing retailer, which owns the third largest chain of stores in the world. The company's portfolio includes such brands as Gap, Old Navy, Banana Republic, Athleta, etc. Most of them show positive dynamics, while the flagship brand in recent years, on the contrary, has experienced a serious decline in terms of basic financial indicators. How Gap Inc. will compensate for the closure of almost 350 offline stores Gap Inc. ‒ the largest American clothing retailer Problems with sales began a long time ago Back in 2018, the then-current CEO of the corporation, Art Peck, said he was unhappy with Gap's profitability, traffic and shopping experience.
Only in the third quarter of this year, sales of the brand fell by 7%. Therefore, Peck planned to close most of the offline points. However, due EL Salvador Mobile Number List to the premature departure of the head from the post in November 2019, the corporation failed to fully implement its plan. We will remind that in the position of the head of Gap Inc. Art Peck was succeeded by the heir of the founding family, Robert J. Fisher. But in March 2020, the company appointed Sonya Singhal as the CEO. Gap CEO Sonia Singhal Gap CEO Sonia Singhal visited the distribution center to thank the company's employees Gap will close about 30% of its stores by July 2021 The other day, the American retailer Gap Inc.
announced its intention to close about 350 more Gap and Banana Republic stores, which is about 30% of all outlets. About 120 of them belong to the European continent: France, Italy, Great Britain. Also in the management of Gap Inc. there is a question about closing the warehouse in Great Britain. According to Le Monde, most of the closures will take place by July 2021. Until then, the corporation hopes to increase revenues from e-commerce. At the same time, Gap does not want to completely lose the objects, as they can be useful in expanding their e-commerce activities. Perhaps the retailer will simply transfer part.
Only in the third quarter of this year, sales of the brand fell by 7%. Therefore, Peck planned to close most of the offline points. However, due EL Salvador Mobile Number List to the premature departure of the head from the post in November 2019, the corporation failed to fully implement its plan. We will remind that in the position of the head of Gap Inc. Art Peck was succeeded by the heir of the founding family, Robert J. Fisher. But in March 2020, the company appointed Sonya Singhal as the CEO. Gap CEO Sonia Singhal Gap CEO Sonia Singhal visited the distribution center to thank the company's employees Gap will close about 30% of its stores by July 2021 The other day, the American retailer Gap Inc.
announced its intention to close about 350 more Gap and Banana Republic stores, which is about 30% of all outlets. About 120 of them belong to the European continent: France, Italy, Great Britain. Also in the management of Gap Inc. there is a question about closing the warehouse in Great Britain. According to Le Monde, most of the closures will take place by July 2021. Until then, the corporation hopes to increase revenues from e-commerce. At the same time, Gap does not want to completely lose the objects, as they can be useful in expanding their e-commerce activities. Perhaps the retailer will simply transfer part.