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Gap Inc. said Tuesday that it enjoyed a 61 percent jump in online sales during its fiscal third quarter ended Oct. 31 — offsetting a 20 percent fall in in-store sales due to the ongoing pandemic. The retail giant also said that its Athleta chain’s sales…
Struggling US apparel retailer Gap Inc has revealed plans to shutter more than 225 stores globally this year with another batch to follow next year. The company has reported a second-quarter net loss of $62 million on sales down 18 percent. Sales through…
Gap has become the latest retail victim of Covid-19 in Hong Kong, shutting its flagship store in Tsim Sha Tsui and at least one other store. The US apparel chain follows in the footsteps of fellow American retailer Victoria’s Secret, which abruptly closed its…
US fashion apparel retailer Gap has teamed with rapper Kanye West’s brand Yeezy to launch a range bearing the Yeezy Gap label. The partnership marks the circular relationship between the entrepreneur and Gap as Kanye used to work in a Gap store when he was a…
Gap – the brand – is floundering internationally, with sales down 50 percent in the first quarter, a rate far worse than other mainstream apparel retailers in the wake of the Covid-19 crisis. Gap Inc, its parent, reported a US$932 million net loss for the…
Apparel retailer Gap Inc has revealed precautionary measures it is taking to bolster its financial flexibility during the coronavirus outbreak. The measures include drawing down its US$500 million credit facility, suspending this year’s quarterly dividends,…
Gap has nixed plans to spin off its Old Navy subsidiary, saying that after further investigation the costs involved outweighed the benefits. “The plan to separate was rooted in our commitment to value creation from our portfolio of iconic brands,” said Robert…
There is no real surprise from Gap’s third-quarter figures released last week: sales are poor, profit is weak – although marginally better than forecast – and the outlook remains gloomy. Given the relative lack of effort from management on resolving the…
Gap Inc is planning to roll out stores globally under its Janie and Jack and Athleta banners via a franchise model. The US-listed fashion giant already has about 500 franchised Gap, Banana Republic and Old Navy-branded stores operating in 40 markets around…
Gap’s second quarter has proven to be mostly a continuation of the first, with negative results across nearly all segments of the business. This is hardly surprising as the fundamental trading strategy has not shifted, so there is little reason to expect a…
Gap Inc sales have slumped globally and across the whole company with the Gap brand the worst performer, down 10 per cent. “This quarter was extremely challenging, and we are not at all satisfied with our results,” said president and CEO Art Peck in a results…
Gap plans to spin off and float its Old Navy business, creating two independent publicly traded companies. Old Navy will operate only its own brand, while the as yet unnamed company – dubbed NewCo for now – will own the Gap brand, Athleta, Banana Republic,…
Ambience Mall, Gurgaon, with some of the biggest food and fashion brands such as H&M, Gap, Zara, Marks & Spencers, Kiko Milano, Luxe Bridge, Iconic, Da Milano, Jack & Jones, Cover Story, Ritu Kumar etc, is the perfect destination for shoppers of all age…
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…
