Retail News: GAP to close all 53 Old Navy stores in Japan!!

GAP (Picture - MSN and BFM News)

GAP (Picture – MSN and BFM News)

 

“Gap Inc., under pressure to turn around operations amid a prolonged sales slump, said it plans to close all its Old Navy stores in Japan and some Banana Republics mostly outside of North America by the end of its business year.” (Wall Street Journal)

“Gap Inc said Thursday that it is shuttering 75 Old Navy and Banana Republic stores outside North America as the struggling company looks to focus on regions where it sees it has the greatest potential for success. The closures include all 53 Old Navy stores in Japan. The closures represent just a fraction of the over 3,700 stores it operates globally. Gap has long been struggling, unable to get shoppers to buy its clothes without offering big discounts(Japan Today)

“Ces dernières semaines, les entreprises du secteur du prêt-à-porter ont annoncé des résultats tous plus mauvais les uns que les autres, qui ont fait lourdement chuter leurs titres en Bourse. Elles pâtissent de la concurrence des vendeurs en ligne dont les politiques commerciales sont plébiscitées par les consommateurs. Gap, fondé il y a 47 ans, doit aussi affronter les fers de lance de la “fast retail” que sont H&M, Zara et Uniqlo qui renouvellent fréquemment leurs collections afin de coller aux goûts d’un public adolescent porté sur les achats sur l’internet.”  (BFM Business/MSN)

 

GAP has been operating in Japan for a while. It is probably good news for rivals like UNIQLO, Zara, H&M and others. So, will it make a difference in the very dynamic Japanese Apparel/Retail landscape or is it going to be “business as usual” for the Japanese consumers? What do you think?

 

Read more from:

http://www.msn.com/fr-fr/finance/actualite/d%c3%a9cision-drastique-de-gap-au-japon/ar-BBtgAi1?ocid=spartanntp

http://www.japantoday.com/category/business/view/gap-to-close-75-stores-outside-north-america-including-53-old-navy-stores-in-japan

http://www.wsj.com/articles/gap-to-close-old-navy-in-japan-withdraws-earnings-forecast-1463689009

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