Gap has confirmed that it’s to close 19 UK and Republic of Ireland stores this summer. It follows a bruising pandemic period and news backs in October that the US firm was launching a review of its European business.
M&S has delivered a bleak full-year earnings report, although the bad news was far from unexpected. In year to April 3 — which included three lockdowns during which its clothing departments were shut — sales plummeted.
Budget shoe retailer Shoe Zone on Tuesday reported a loss for the six months to April 3 on the back of lower sales, although this was hardly a surprise given how weak the footwear category has been during lockdowns.
The American fashion group announced on Tuesday that it has entered into an agreement to sell its Intermix womenswear brand to Altamont Capital Partners as it pushes forward with efforts to streamline its portfolio.
As fashion rental services go this is claiming to be a UK first. US-based B2B rental tech platform CaaStle is expanding overseas to power a subscription rental service with UK menswear retailer Moss Bros from 20 April.