Old Navy Hits Deepest Sales Slump in 4 Years

Old Navy was for the longest time the bright spot in Gap Inc’s struggling portfolio, the brand that had held its own against everyone from Wal-Mart to H&M. Gap’s largest brand, a powerhouse behind 40 percent of sales, figured out long before both its major sister brands Gap and Banana Republic how to compete with fast-fashion by shrinking production times and adding more trendiness into inexpensive clothes.