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Retail Asia25/07/2023

Gap announced that it is appointing Chris Blakeslee as the new President and CEO of Athleta, joining the company August 7. In this role, Blakeslee will drive strategic growth for the portfolio’s nearly $1.5 billion1 women’s active and lifestyle brand, and certified B Corporation, building on the foundation of Athleta’s product innovation and its mission to ignite a community of active, […]

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Retail Asia28/02/2023

In this second phase, after opening over 50 Gap shop-in-shops since last year, Reliance Retail will help open a series of freestanding Gap stores across the country in the coming months. New Delhi: Reliance Retail, on Friday, has opened the first freestanding Gap store in India at Mumbai’s infiniti Mall, Malad, the company announced in […]

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Retail Asia09/11/2022

US apparel retailer Gap Inc has agreed to sell its Greater China businesses to Baozun Inc, the e-commerce service provider said on Tuesday, as headwinds persists for global consumer brands in the world’s second-largest economy. Dealmakers have seen opportunities for merger and acquisitions involving multinational firms that look to spin off their China units, as […]

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Retail Asia21/09/2022

Gap Inc is eliminating about 500 corporate jobs, the apparel chain said on Tuesday, as it struggles to protect margins and battles weak sales of outdated clothes at brands including Old Navy. The company is laying off staff and eliminating positions that are currently open across a range of departments, it said. The eliminated roles […]

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Retail Asia13/07/2022

Gap shares slid more than 18% Friday after the company slashed its sales outlook for the first quarter of fiscal 2022, citing what it called “execution challenges” its Old Navy business, and announced the CEO of that division, Nancy Green, will leave her post this week. Gap is now projecting low- to mid-teens declines compared with […]

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Retail Asia08/07/2022

Reliance Retail Ltd on Wednesday announced its long-term partnership with Gap and plans to bring the iconic American fashion brand to India. “Through a long-term franchise agreement, Reliance Retail has become the official retailer for Gap across all channels in India,” said a joint statement. Reliance Retail will introduce Gap’s offerings to Indian consumers through […]

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Retail Asia07/10/2021

Gap is investing on AI and machine learning technology through the acquisition with the New York and Tel Aviv-based start-up Context-Based 4 (CB4). CB4’s technology has been implemented by several fashion retailers, including Levi’s, Urban Outfitters, Lidl, and Kum & Go. Gap says the acquisition will help it transform its retail operations and improve the […]

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Retail Asia29/07/2021

The American Apparel & Footwear Association (AAFA) has requested the U.S. and Vietnam governments to speed up the distribution of vaccines to major suppliers of Adidas, Gap and other brands. “We urge you to dramatically ramp up distribution of vaccines, including America’s stockpile of AstraZeneca vaccines, to countries like Vietnam now,” Steve Lamar, president and […]

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Retail Asia06/07/2021

The firm said it would close all its stores “in a phased manner” between the end of August and the end of September. This includes 19 stores that were already scheduled to close in July as their leases were expiring. The company has not disclosed how many employees the closures will affect, but will shortly […]

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Retail Asia29/03/2021

As part of a three-year strategic plan to focus its four largest brands — Old Navy, Gap, Banana Republic and Athleta — Gap Inc. said it will sell its children’s business to investment firm Go Global Retail on Thursday. Gap bought Janie and Jack in 2019 for $35 million from Gymboree Group Inc. It has a […]

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Retail Asia10/03/2021

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 suitors. It added there was a possibility that Gap could also keep the business. […]

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Retail Asia26/11/2020

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 rocketed even as revenues plunged at Banana Republic Global. “With our […]

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Retail Asia01/09/2020

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 physical stores were down by 48 percent, offset by a meteoric 95-per-cent […]

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Retail Asia06/07/2020

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 giant Causeway Bay flagship store last week. Gap has launched a clearance sale […]

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Retail Asia01/07/2020

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 teenager in Chicago, before his music career took off. […]

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Retail Asia09/06/2020

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 three months to March on sales down group-wide by 43 […]

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Retail Asia30/03/2020

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, reducing capital expenditure this year by $300 million and reviewing all operating expenses to reduce spending. “We entered 2020 in […]

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Retail Asia21/01/2020

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 Fisher, Gap Inc’s interim president and CEO. “While the objectives of the separation […]

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Retail Asia02/12/2019

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 underlying issues plaguing the company, it would be unreasonable to expect a different outcome. […]

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Retail Asia27/09/2019

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 the world with local partners, including in Asia. Now it sees an opportunity […]

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