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.
'Economic Content Creators’ programme caps first week
The Dubai Press Club has marked the successful completion of the first week of the "Economic Content Creators" programme, organised with the support of the UAE Ministry of Economy.
DEWA SAT-1 sends 2,690 MB of data related to its work to ground station
Dubai Electricity and Water Authority (DEWA) announced on Sunday that its nanosatellite, DEWA-SAT 1, has transmitted 2,690 megabytes (MB) of data related to DEWA’s work to the ground station since launch in January 2022.
Novo's next-gen obesity drug candidate trial disappoints
Novo Nordisk on Friday revealed disappointing results in a late-stage trial for its experimental next-generation obesity drug CagriSema, wiping as much as $125 billion off its market value.
Amazon workers to strike at US warehouses during busy holiday season
Thousands of Amazon.com workers in the US will walk off the job on Thursday, in the crucial final days of the holiday season, after union officials said the retailer failed to come to the bargaining table to negotiate contracts.
H.H Sheikh Mohammed issues new laws to enhance Dubai’s media sector
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has introduced Law No. (29) of 2024, which grants the Dubai Media Council expanded powers to further develop and regulate the emirate’s media sector.
President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Belarus President Aleksandr Lukashenko, on Sunday, discussed bilateral relations and ways to enhance cooperation to serve shared interests and advance development and prosperity in both countries.
Dubai’s Roads and Transport Authority (RTA), on Sunday, opened a key two-lane bridge spanning 1,000 metres to enhance traffic flow from Hessa Street to Al Khail Road.
The Sharjah Department of Human Resources announced on Sunday there will be a holiday on Wednesday, January 1, to celebrate the New Year.
