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Retail Asia06/09/2019

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 different outcome. In this context the CEO’s assertion that Gap is “running […]

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Retail Asia21/06/2019

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 release. “We are committed to improving our execution and […]

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Retail Asia06/03/2019

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, Intermix and Hill City. “It is clear that Old Navy’s […]

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Retail Asia07/02/2019

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 groups. To augment its standing as the numero uno, two more luxury brands Ted Baker and Hackett London have […]

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Retail Asia22/11/2018

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 modest 2 per cent improvement of the […]

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Retail Asia30/08/2018

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 are encouraged by our 2018 operating results,” said CEO Nash Benjamin. […]

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Retail Asia28/08/2018

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 increased by a more subdued 4 per cent. Growth […]

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Retail Asia18/06/2018

Former Billabong International chief executive Neil Fiske has landed a new job steering the ship for Gap Inc.’s struggling namesake brand. After spending almost five years trying to flip the fortunes of Billabong prior to its acquisition by Boardriders earlier this year Fiske will again be responsible for a disrupted retail business. As the president […]

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Retail Asia08/06/2018

Fashion giants H&M and Gap vowed on Tuesday (05/06) to investigate reports that Asian garment workers who supply their high-street stores routinely face sex abuse, harassment and violence. Based on interviews with some 550 workers in 53 H&M and Gap supplier factories in Bangladesh, Cambodia, India, Indonesia and Sri Lanka, rights groups said women were […]

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Retail Asia28/05/2018

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, but that was still off from the same period last year when Old […]

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Retail Asia07/05/2018

Gap is ramping up its roll-out of Old Navy stores as the budget brand drives growth for the embattled US apparel giant. Gap Inc says it will open 60 new stores this year in the US, Canada and Mexico – twice the number of new stores it opened last year. It will refurbish a further […]

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Retail Asia26/04/2018

Gap is ramping up its roll-out of Old Navy stores as the budget brand drives growth for the embattled US apparel giant. Gap Inc says it will open 60 new stores this year in the US, Canada and Mexico – twice the number of new stores it opened last year. It will refurbish a further […]

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Retail Asia22/03/2018

Failing US president Donald Trump is facing widespread backlash from US retailers and brands over his intention to trigger a trade war with China and other nations. Just days after announcing tariffs on steel imports against the advice of officials, lawmakers and industry, Trump is now believed to be formulating sweeping tariffs on imported goods […]

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Retail Asia26/02/2018

Gap Inc has announced that Gap brand president/CEO Jeff Kirwan will leave the clothing retail company. A search has been launched to find a replacement. “As we move into the brand’s next phase of development, Jeff and I agreed it was an appropriate time for a change in leadership,” says Gap Inc CEO Art Peck. […]

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Retail Asia23/02/2018

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 will be closing the final two Banana Republic and three Gap stores in Singapore by the end […]

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Retail Asia14/02/2018

Gap Malaysia has announced on its Facebook page that it is about to close its store and GapKids in the Gardens Mall, Kuala Lumpur. The American clothing retailer first announced it would be shutting down its Queensbay Mall, Penang and Pavilion KL stores in January, and now adds Gardens Mall and 1 Utama as well. […]

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Retail Asia18/12/2017

Shares of the world’s second-largest fashion chain, H&M, have hit its lowest in eight years as the retailer reports plummeting sales at the conclusion of a despondent year. In the three months to the end of November 2017, H&M reported a 4 percent drop in sales, and on Friday its shares traded 15 percent lower than its […]

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Retail Asia20/11/2017

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 year. Unfortunately, behind the headline, it is the same […]

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Retail Asia07/09/2017

Gap Inc says it will shift its focus to its growing brands Old Navy and Athleta, and away from Gap and Banana Republic. The company said on Wednesday it will close about 200 Gap and Banana Republic stores in the next three years and open about 270 Old Navy and Athleta stores during the same […]

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Retail Asia30/08/2017

Gap China has opened a flagship store on Shanghai’s West Nanjing Road, its biggest flagship yet in Greater China. Featuring Gap’s full apparel collections and latest store-design elements, the flagship underscores the importance of the China market, says Gap, which will next year move its China retail headquarters team into an office above the store. […]

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