READ IN: Español
It is undeniable that the crisis caused by the current pandemic is having very serious consequences. That is why Gap has decided to close two hundred stores after a drop in sales.
Other fast fashion giants also made the same decision – H&M, COS and Zara – and now Gap joins the list. After an 18% drop in the second quarter of 2020, they have made official their intention to close 225 stores, with the possibility of increasing the number during 2021.
However, this loss does not affect online sales, as it has experienced a growth of 95% only in the last quarter, thanks to the sale of masks that would have meant about 110 million euros.