Gap closing retail stores in Hong Kong
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Gap has become the latest retail victim of Covid-19 in Hong Kong, shutting its flagship store in Tsim Sha Tsui and at least one other store.
The US apparel chain follows in the footsteps of fellow American retailer Victoria’s Secret, which abruptly closed its giant Causeway Bay flagship store last week.
Gap has launched a clearance sale in Tsim Sha Tsui and its Hysan Place store in Causeway Bay, ahead of their closure sometime during the next few weeks. A notice outside the Tsim Sha Tsui store advises customers they will be able to shop at other stores or on the brand’s website.
A staff member working at the Gap store reportedly leaked to local media that Gap Hong Kong will shut three more of its eight branches next month, including the recently-opened K11 Musea store. The three shops set to continue trading are at Queen’s Avenue in Central, V City in Tuen Mun and Citygate in Tung Chung.
The US fashion brand was already struggling before the advent of the Covid-19 pandemic. Last year, Gap said it would close 230 stores worldwide within two years. Global sales recently recorded a 43-per-cent drop in the first quarter, worse than rival apparel retailers, in the wake of the pandemic crisis.
Questions & Answers
Q.Which specific Gap stores in Hong Kong are definitely closing soon?
Which specific Gap stores in Hong Kong are definitely closing soon?
The flagship store in Tsim Sha Tsui and the Hysan Place store in Causeway Bay are both holding clearance sales ahead of their imminent closure. The article also suggests three more branches will shut next month.
Q.Which Gap stores will remain open in Hong Kong after these closures?
Which Gap stores will remain open in Hong Kong after these closures?
Three Gap stores are set to continue trading in Hong Kong. These are located at Queen's Avenue in Central, V City in Tuen Mun, and Citygate in Tung Chung, according to the staff member's report.
Q.Was Gap performing poorly before the Covid-19 pandemic began?
Was Gap performing poorly before the Covid-19 pandemic began?
Yes, Gap was already facing difficulties before the pandemic. The company announced last year its intention to close 230 stores globally over a two-year period, indicating pre-existing struggles.
Q.How have Gap's recent global sales been affected by the pandemic compared to its competitors?
How have Gap's recent global sales been affected by the pandemic compared to its competitors?
Gap's global sales recently recorded a significant 43-percent drop in the first quarter, which was worse than the performance of rival apparel retailers during the same period of the pandemic crisis.
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