To focus on its online markets in Europe and save costs, Gap Inc plans to sell its stores in Italy and France.

As per a Reuters report, the retailer also plans to shut all Gap Specialty and Gap Outlet stores in the United Kingdom and Republic of Ireland by the end of September. The owner of Old Navy brand is in discussions with Hermione People and Brands, the retail branch of FIB Group, to take over its stores in France, while an unnamed partner is in talks to buy its Italian stores.

The move comes as Gap competes with apparel brands like Zara and H&M for market share. The coronavirus pandemic has compounded troubles by stifling sales at brick-and-mortar stores across the globe. The Gap, Inc is an American worldwide clothing and accessories retailer. Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates six primary divisions: Gap (the namesake banner), Banana Republic, Old Navy, Intermix, Hill City, and Athleta. Gap Inc. is the largest specialty retailer in the United States, and is third in total international locations, behind Inditex Group and H&M.