Gap Inc says it is shutting 230 of its stores.
The fashion firm also said splitting off its Old Navy brand, which will be a standalone company.
They say it's part of restructuring efforts aimed at "revitalising" the company.
According to latest figures, sales at Gap are continuing to fall while Old Navy's revenues are on the rise.
Trump orders halt to US trade with Spain over NATO spending, Iran
US President Donald Trump has ordered an immediate halt to all trade with NATO ally Spain on Wednesday, escalating tensions over defence spending and the Iran war, despite European Union rules requiring trade negotiations to be conducted as a single bloc.
Modi calls for 'historic' Australia-India cooperation in nuclear energy, critical minerals
Prime Minister Narendra Modi said on Thursday India's relationship with Australia presented "historic opportunities" for both countries to cooperate in nuclear and renewable energy, critical minerals and green hydrogen.
Dubai's GDP reaches AED 232 billion in Q1 2026
Dubai maintained its strong economic performance in the first quarter of 2026, with the emirate's Gross Domestic Product (GDP) reaching AED 232 billion, reflecting a 2.4 per cent increase from the same period last year.
DTC completes AED 1.45 billion acquisition of National Taxi
Dubai Taxi Company (DTC) has completed its acquisition of 100 per cent of the share capital of National Taxi after securing all required regulatory approvals, including from Dubai's Roads and Transport Authority and Abu Dhabi's Integrated Transport Centre.
UAE achieves record FDI investments in 2025: H.H. Sheikh Mohammed
The UAE has "advanced to ninth place globally among FDI destinations and maintained, for the third year in a row, second global position in number of FDI investment greenfield projects, totalling 1,562 projects," said H.H. Sheikh Mohammed bin Rashid Al Maktoum.
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