Retail

Brexit Could Hurt Hundreds of Gap Stores

Paul Ausick

Published: June 26, 2016 8:45 am

Last Updated: January 13, 2020 6:22 am

That The Gap Inc. (NYSE: GPS) is struggling is not exactly headline news. When the clothing retailer reported first-quarter last month, same-store sales were down 5% and total sales were down 6%. Last Thursday’s Brexit vote is only likely to make these numbers worse.

The company’s 183 Gap and Banana Republic stores in Europe account for 5% of corporate net sales, or $181 million. That’s about half the total from sales in Asia, where the company has 432 stores. Gap closed 2 of its European stores in the first quarter and opened 7 new stores in Asia.

The United Kingdom is home 137 Gap and Banana Republic stores, about 75% of all the company’s stores in Europe. The British pound took a beating early Friday, dropping to multi-decade lows at one point. A weaker pound, a stronger dollar, and the uncertainty surrounding trade among Britain, the rest of Europe, and other countries, including the United States, are not good news for Gap.

Gap stock closed down about 2.5% on Friday, at $20.40, and added a bit in the after-hours session, rising to $20.47. The stock’s 52-week range is $17.00 to $39.00 and the consensus price target is $19.66.

Following is a list from the Gap’s website of the location of the company’s European stores.

France
Aix-en-Provence
Boulogne Billancourt (Boulogne Gap)
Boulogne Billancourt (Boulogne Kids)
Créteil
Lieusaint Cedex
Lille
Lyon
Montpellier
Paris (C.C Passage du Havre)
Paris (Capucines)
Paris (Champs Elysées)
Paris (Commerce Kids)
Paris (Commerce)
Paris (Faubourg Saint Antoine)
Paris (Forum des Halles)
Paris (Forum des Halles)
Paris (Kléber)
Paris (Marché Saint Germain)
Paris (Palais des Congrès)
Paris (Passy Plaza)
Paris (Rennes Gap)
Paris (Rennes Kids)
Paris (Rivoli)
Paris (Saint Denis)
Paris (Saint Michel)
Paris (Scribe)
Paris (Terne)
Paris (Tronchet)
Puteaux
Serris
Strasbourg (Centre Commercial Rivetoile)
Strasbourg (Centre Commercial Rivetoile)
Vélizy

Ireland
Cork
Dublin (Blanchardstown (Gap Outlet))
Dublin (Dublin)
Dublin (Dundrum)

Italy
Castel Guelfo di Bologna
Fiordaliso
Le gru Turin
Milan
Palmanova
Rome (Roma est)
Rome (Rome Flagship)
Valdichiana
Vicolungo

United Kingdom
Aberdeen
Antrim
Ashford
Banbridge
Banbury
Basingstoke
Bath (Bath Adults)
Bath (Bath Kids)
Batley
Bideford
Birmingham (Bullring)
Birmingham (Solihull)
Bournemouth
Braintree
Brentwood
Bridgend
Brighton (Brighton Adults)
Brighton (Brighton Kids)
Bristol (Bristol Adults)
Bristol (Bristol Kids)
Bristol (Cribbs Causeway Adults)
Bromley
Cambridge (Cambridge Adults)
Cambridge (Cambridge Kids)
Cardiff
Castleford
Chelmsford (Chelmsford)
Chelmsford (Colchester)
Cheltenham
Chester
Coble Dene
Coventry
Derby
Doncaster
Dudley
Edinburgh (Gyle)
Edinburgh (Ocean Terminal)
Edinburgh (Princes Street)
Ellesmere Port
Exeter
Fletwood
Fulford
Gateshead (Gateshead)
Gateshead (Metro Centre (House of Fraser Concession))
Glasgow (Braehead)
Glasgow (Glasgow)
Gloucester
Greenhithe (Bluewater Baby 1)
Greenhithe (Bluewater Baby 2)
Greenhithe (Bluewater Combo)
Gretna
Guildford (Guildford Adults)
Guildford (Guildford Kids)
Gwent
Hanley
Harrogate
Hatfield
High Wycombe
Hull
Leamington Spa
Leeds
Leicester
Lincoln
Liverpool
Livingston
London (Bloomsbury GapKids and babyGap)
London (Brent Cross Baby)
London (Brent Cross Combo)
London (Brompton Road)
London (Camden Parkway)
London (Canary Wharf)
London (Chiswick)
London (Covent Garden Adults)
London (Covent Garden Kids)
London (Croydon (House of Fraser Concession))
London (Finsbury Pavement)
London (Gracechurch Street)
London (Hampstead Adults)
London (Hampstead Kids)
London (Islington)
London (Kensington High Street)
London (Kew Retail Park)
London (Kings Road)
London (Kingston Adults)
London (Kingston Kids)
London (Notting Hill Gate)
London (One New Change)
London (Oxford Circus)
London (Oxford Street Flagship)
London (Piccadilly)
London (Poultry)
London (Putney Adults)
London (Putney Kids)
London (Regent Street)
London (Richmond)
London (St John’s Wood)
London (Stratford City)
London (Victoria (House of Fraser Concession))
London (Victoria (House of Fraser Concession))
London (Walton-on-Thames)
London (Wandsworth)
London (White City)
London (Whiteleys Adults)
London (Whiteleys Kids)
London (Wimbledon Adults)
London (Wimbledon Kids)
Manchester (Manchester)
Manchester (Trafford Centre)
Milton Keynes
Murton
Newport
Norwich
Oxford
Perth
Portsmouth
Preston
Reading
Romford
Sevenoaks
Sheffield
South Normanton
Southampton
Spalding
Staines
Stockport
Stoke on Trent
Street
Swindon
Telford
Tillicoultry
Tunbridge Wells
Uxbridge
Watford
Wembley
West Bromwich
Windsor
York