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Gap to shut all Banana Republic stores in Britain

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Gap is to close all its Banana Republic stores in the UK as the ailing fashion retailer focuses on North America to revive its sales.
The company said it expected to close the majority of the eight UK stores by the end of this year, a Gap spokeswoman told Reuters.
The majority of closures will take place by the end of January, though the apparel maker will continue to serve British customers through a dedicated Banana Republic website.
READ MORE: Banana Republic to open first store in India
Gap – which has been struggling to draw shoppers who now turn to fast-fashion retailers such as H&M, Forever 21 and Inditex’s Zara for cheaper and trendier clothes – said in May that it would shut 75 Old Navy and Banana Republic stores overseas “in order to sharpen its focus on geographies with the greatest potential”.
The retailer has also decided to shutter all 53 Old Navy stores in Japan in 2016.
ALSO READ: Gap sales slide in April, retailer gives grim outlook

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