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 announces 50% tariffs on wide range of Canadian imports
US President Donald Trump has announced sweeping new tariffs of up to 50 per cent on a broad range of Canadian imports, opening a new front in the trade dispute between the neighbouring countries.
ADNOC approves $6.2bn investment to expand UAE gas production
ADNOC has approved a $6.2 billion (AED22.6 billion) investment to develop the Umm Shaif Gas Cap project, as it steps up plans to expand the UAE's natural gas production and liquefied natural gas (LNG) exports.
UAE banks, financial institutions begin issuing Jaywan cards to customers
The UAE has begun issuing Jaywan cards - its first homegrown payment scheme - to customers.
Dubai Customs measures provide more than AED79 million for private sector
Measures and economic packages introduced by Dubai Customs have provided more than AED79 million in liquidity to the 428 companies in the private sector.
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