Gap to shut all Banana Republic stores in the U.K.

Gap to shut all Banana Republic stores in the U.K.



Shoppers in the United Kingdom will soon be able to buy Banana Republic merchandise only via the chain’s website.



Gap Inc. plans to close all eight of its Banana Republic stores in United Kingdom by the end of its fiscal year, Bloomberg reported.



In May, Gap announced that it planned to shut about 75 stores across its Old Navy and Banana Republic brands, with most of the closures overseas.



Banana Republic sales have been on the decline for a while, with same-store sales down 9% in its most recent quarter. It was the brand’s sixth straight quarter of decline.