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Apparel retailer Gap is weighing options including a potential sale of its China business, citing people with knowledge of the matter. The report said the Old Navy parent was working with an adviser to explore its options and has contacted prospective…
Gap brand sales fell 7 per cent globally in the last quarter as the US apparel retailer fails to re-engage consumers. However Gap Inc increased its overall sales by 6.5 per cent to US$4.09 billion on the back of solid growth in its Old Navy business and a…
Singapore retailer FJ Benjamin has recorded a change of fortune, turning its first annual profit in four years. The multi-brand retailer reported a pre-tax profit of S$939,000 for the year to June 30, compared to a loss of $16.5 million the previous year. “We…
At headline level, Gap’s second-quarter results look strong: Total group sales are up by 7.5 per cent, while US sales rose by 9.3 per cent. However, these gains are inflated by a change in the way revenue is recognised and when this is accounted for, sales…
The tried-and-true formula of trendy casual wear at a bargain price was the right formula for Old Navy, a division of Gap Inc. In its first-quarter earnings report for the period ending May 5, Gap Inc. said that Old Navy’s same-store sales were up 3 percent,…
Clothing brands Banana Republic and Gap are about to quit Singapore, FJ Benjamin has announced. Both outlets have announced their impending departure on their respective Facebook pages. FJ Benjamin, which brought both American brands to Singapore, says it…
At headline level, the latest Gap Inc results are not too bad. Overall revenue rose by 1.1 per cent, a respectable increase that is some way above that posted over the last two quarters. Net income also increased by 12.3 per cent compared to the previous…
Penang will gain its first premium outlet mall, Design Village, next month. In Batu Kawan in mainland Penang, it will be the biggest outlet mall in Malaysia. It was developed by PE Land, which owns and runs The Spring shopping mall in Kuching. The outlet mall…
With distributor RSH, fashion label Old Navy will open its first store in Malaysia at the end of this month. RSH regional marketing and communications manager Roy Lan says the brand will launch a “robust” integrated campaign to raise awareness among consumers…
That the overall pace of the Gap sales decline has moderated since both last quarter and last year is the only – very small – crumb of comfort for Gap Inc in its latest set of results. Gap last week reported a profit of US$125 million for the quarter, down…
Three years after the Japanese luxury department store chain announced plans to enter Saigon, Takashimaya Vietnam opened its doors at the weekend. As the anchor tenant of downtown Ho Chi Minh City’s Saigon Center, Takashimaya takes up a whole five floors…
Gap Japan will close its 53 Old Navy stores as its parent narrows its focus in Asia. But CEO Art Peck says the company “remains committed” to growing its brands in regions where it has a structural advantage. The relatively down-market Old Navy brand will…
Over the subsequent three years, a staggering 40 million sqm of shopping center improvement is predicted throughout China. Of this, 55 new malls will probably be in Shanghai – a metropolis whose retail business has been turned on its head, actually, by the…
