Gap
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 8, 2016 at 11:33 am
Check out Retail Right Now — a weekly review of the top retail news. This week, Abercrombie & Fitch sued Gap and Amazon nixed its list prices. We also look ahead to Prime Day and Fast Retailing's earnings.
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…
May 18, 2016 at 10:22 am
Gap Inc. CEO Art Peck said the retailer would consider relying on third-party sellers such as Amazon.com to reach customers. “To not be considering Amazon and others would be — in my view — delusional,” Peck said at the company’s annual investor meeting Tuesday in San Francisco. “We are always considering all of the opportunities beyond…
April 28, 2016 at 10:54 am
With no relief in sight from its chronic sales declines, Gap Inc will need to close a lot more namesake stores on top of the dramatic shrinking of its fleet in recent years, according to a Wall Street analyst. Earlier this month, the company reported comparable sales fell 3 percent in March, the 23rd month without…
