Gap is reporting that it plans on closing 19 stores across the UK and Ireland over the next couple of months. A spokesperson for the U.S. retailer confirmed that it does not plan on extending leases that are set to expire on July 31st. According to reports, Gap lost $665 million USD in the fiscal year ending in January 2021, but has enjoyed positive growth since. In the first quarter of 2021, Gap’s sales exceeded pre-COVID levels, reaching $3.99 billion USD.
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