Gap
March 1, 2019 at 10:50 am
Gap Inc. yesterday announced plans to create two independent, publicly traded companies: Old Navy and a yet-to-be-named company ("NewCo") that will consist of the Gap brand, Athleta, Banana Republic, Intermix and Hill City. Gap said the spin-off will enable each company to maximize focus and flexibility, align investments and incentives to meet its unique business needs,…
December 12, 2018 at 12:28 pm
Old Navy has partnered with ride share service app Lyft to offer customers free rides to stores, reports Nasdaq. The Gap Inc. retail brand is making it easier for shoppers to buy online and pick up in-store by offering free round-trip rides to stores on Sat., Dec. 15 and Sat., Dec. 22. Old Navy hopes…
November 21, 2018 at 12:38 pm
Gap Inc. is considering shutting hundreds of its namesake stores at shopping malls as sales at the Gap brand continue to slide. The retailer said Tuesday evening that it still has 775 Gap-branded stores globally, in addition to those under the Old Navy, Banana Republic and Athleta banners. Gap Inc. has more than 3,000 stores around the…
February 20, 2018 at 12:29 pm
Gap said today that Jeff Kirwan, president and chief executive of its eponymous brand, will leave the apparel retailer, pushing its shares down 5 percent. The news comes just over a week before Gap is scheduled to announce fourth-quarter results. The company, in November, raised its 2017 earnings and same-store sales forecasts, likely reflecting higher sales…
July 28, 2017 at 9:28 am
Top Republicans driving the GOP tax reform effort have given up on border adjustment. The border adjustment proposal was a key revenue-raising plank of the plan House Republicans unveiled last year. It would have taxed imported products but let exports go untaxed. Retailers that get many of their products from overseas raised concerns about the proposal, saying…
February 14, 2017 at 9:58 am
Chief executives of some of the country's largest retailers, including Target, Gap, Best Buy and Autozone, are headed to Washington, D.C. this week to make their case that a controversial tax on imports would raise consumer prices and hurt their businesses, according to people familiar with the plan. The group of eight retail bosses will meet on Wednesday with…
August 3, 2016 at 4:51 pm
Gap is, yet again, under scrutiny for a controversial ad. The retailer has been criticized for a new ad campaign featuring a little boy, labeled "The Little Scholar," wearing a T-shirt with Einstein's face. Next to him is a girl wearing a T-shirt that reads "The Social Butterfly." The copy for the boy reads "Your…
July 20, 2016 at 1:35 pm
Gap, the beleaguered apparel chain, is scrambling to regain its footing during the all-important back-to-school (BTS) season. The retailer has been under consistent pressure to reverse sliding sales, though it's seen recent glimmers of progress. Core to Gap's struggles is an identity crisis, both in merchandise and marketing, as well as in brand voice. With consumers…
July 6, 2016 at 1:58 pm
Abercrombie & Fitch last week filed litigation against Gap for the recent hire of Craig Brommers as chief marketing officer of Gap's namesake brand. In January, Gap had hired Mr. Brommers to help with the company’s turnaround. Brommers had been the senior vice president of marketing at Abercrombie for three years. The lawsuit alleges Brommers…
May 20, 2016 at 10:45 am
Gap Inc said it would shut 75 Old Navy and Banana Republic stores in overseas markets as the struggling apparel retailer focuses on North America to revive its fortunes. Shares of the San Francisco-based company were up 4.2 percent in after-hours trading on Thursday. The store closures include all its 53 Old Navy outlets in Japan, the…
