Content about Gap

July 21, 2014

Continuing its global growth, Gap Inc. on Monday announced that it will introduce the Gap brand to Slovenia and Austria through agreements with new and existing franchise partners.

San Francisco -- Continuing its global growth, Gap Inc. on Monday announced that it will introduce the Gap brand to Slovenia and Austria through agreements with new and existing franchise partners. Magistrat International, a new partner, has been selected for the launch of Slovenia. Gottex, which currently manages the Gap franchise business in Israel and Hungary, will launch Austria.

May 22, 2014

Gap Inc. on Thursday said its first-quarter profit dropped 22%, hurt by weakening foreign currencies.

San Francisco -- Gap Inc. on Thursday said its first-quarter profit dropped 22%, hurt by weakening foreign currencies.

The retailer earned $260 million in the three-month period ended May 3, down from $333 million in the year-ago period. Revenue increased 1.2% to $3.77 billion. Same-store sales were down 1%.

May 8, 2014

Many retailers reported better than expected sales in April, helped by warmer weather and a later-than-usual Easter. Gap Inc., L Brands, Costco Wholesale Club, The Buckle, Stein Mart and Zumiez all came in ahead of analysts estimates.

New York -- Many retailers reported better than expected sales in April, helped by warmer weather and a later-than-usual Easter. Gap Inc., L Brands, Costco Wholesale Club, The Buckle, Stein Mart and Zumiez all came in ahead of analysts estimates.

At Gap Inc., same-store rose a better-than-expected 9% in April. By banner, sales were up 3% at Gap stores, 7% at Banana Republic and 18% at Old Navy. Analysts had expected Gap’s total same-store sales to inch up 0.1%.

April 16, 2014

Gap Inc. highlighted its use of technology and innovation to bridge the growing digital world with its physical stores at the company’s annual meeting with investors.

San Francisco -- Gap Inc. highlighted its use of technology and innovation to bridge the growing digital world with its physical stores at the company’s annual meeting with investors. In new initiatives, the retailer is expanding its reserve in-store service to all U.S. Gap stores by the end of the second quarter, enabling online and mobile shoppers to now reserve items at more than 1,000 Gap and Banana Republic store locations.

March 18, 2014

Gap Inc. plans to open five franchise-operated Old Navy stores in the Philippines in 2014.

San Francisco -- Gap Inc. plans to open five franchise-operated Old Navy stores in the Philippines in 2014. The first two Old Navy stores will open in Manila in March and there are plans to open three more stores in the second half of the year for a total of five Old Navy stores in 2014.

The first of two Old Navy stores, a dedicated three-story building, will open in the heart of Manila’s fashion and shopping district, Bonifacio High Street, on March 22. The second store will open in the prominent Glorietta mall on March 29.

March 7, 2014

Gap Inc. had a disappointing February 2014 as net sales and same-store sales declined, compared to the same month in the prior year.

San Francisco – Gap Inc. had a disappointing February 2014 as net sales and same-store sales declined, compared to the same month in the prior year. Net sales fell 4% to $929 million from $966 million, while same-store sales dropped 7%.

March 6, 2014

Gap will officially open its first Taiwan flagship store on March 8 as part of its ongoing strategy to expand Gap’s global footprint.

TAIPEI -- Gap will officially open its first Taiwan flagship store on March 8 as part of its ongoing strategy to expand Gap’s global footprint. With plans to open about 30 Gap stores across its Greater China region, including three in Taiwan, the brand expects to have more than 100 stores by the end of fiscal 2014.

March 3, 2014

Gap Inc. reportedly plans a substantial increase in its Gap and Old Navy store count in China during the next several years.

San Francisco – Gap Inc. reportedly plans a substantial increase in its Gap and Old Navy store count in China during the next several years. Reuters reports that Gap plans to add 30 stores to its existing 81 Chinese locations.

February 27, 2014

Gap Inc. reported a 12.5% decline in fourth-quarter profit, with its results impacted by heavy discounting during the holidays.

San Francisco -- Gap Inc. on Thursday reported a 12.5% decline in fourth-quarter profit, with its results impacted by heavy discounting during the holidays. The retailer also issued a profit outlook for the full year that is below analysts' expectations, and said it will open 30 additional U.S. stores during fiscal year 2014.

Gap reported net income of $307 million for the three-month period ended Feb. 1, better than the Street expected, down from $351 million in the year-ago period.

February 27, 2014

Gap Inc. is bringing its Old Navy brand to China, with the opening of a store on March 1 on Shanghai’s famous Nanjing West Road.

San Francisco -- Gap Inc. is bringing its Old Navy brand to China, with the opening of a store on March 1 on Shanghai’s famous Nanjing West Road.

The 22,000 –sq.-ft., three-level Shanghai Old Navy store is located in the Jing’an District, a major commercial area known for shopping, sightseeing, hotels and office buildings that draws thousands of locals and overseas visitors. The store features iconic elements from Old Navy’s U.S. flagship and such interactive features as touch-screen video games and game tables.

February 20, 2014

Gap Inc. will raise the minimum hourly wage for all U.S. employees to $9 in 2014, and then raise it again, to $10, in 2015.

San Francisco – Gap Inc. will raise the minimum hourly wage for all U.S. employees to $9 in 2014, and then raise it again, to $10, in 2015. The move will affect about 65,000 store employees across the company’s brands, which include Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix. Gap's announcement comes amid a nationwide debate about the minimum wage.

February 19, 2014

F.J. Benjamin Holdings Inc., a developer and manager of retail brands including Gap, Banana Republic and Guess, in Asia, has deployed the traffic intelligence application from Tyco Retail Solutions.

Singapore – F.J. Benjamin Holdings Inc., a developer and manager of retail brands including Gap, Banana Republic and Guess, in Asia, has deployed the traffic intelligence application from Tyco Retail Solutions. The company sought a clear understanding of how the differently branded stores’ locations compared with each other, as well as the ability to track shopper conversion rates within each store.  

February 18, 2014

Launching Feb. 18 "Lived-In,” Gap's global marketing campaign, features magazine, outdoor and social components.

San Francisco - Launching Feb. 18 "Lived-In,” Gap's global marketing campaign, features magazine, outdoor and social components. These include Gap's Facebook, Twitter, Pinterest and Instagram communities, with the hashtag #LivedIn.

February 18, 2014

Launching Feb. 18 "Lived-In,” Gap's global marketing campaign, features magazine, outdoor and social components.

San Francisco - Launching Feb. 18 "Lived-In,” Gap's global marketing campaign, features magazine, outdoor and social components. These include Gap's Facebook, Twitter, Pinterest and Instagram communities, with the hashtag #LivedIn.

February 7, 2014

Gap Inc. posted strong sales for January and issued a fourth-quarter profit forecast that topped expectations.

San Francisco -- Gap Inc. posted strong sales for January and issued a fourth-quarter profit forecast that topped expectations.

The retailer said its same-store sales rose 1% in January. Analysts had expected a drop of 1.3%. Net sales for the four weeks that ended Feb. 1 were $899 million, compared with net sales of $1.13 billion for the five-week period ended Feb. 2, 2013.

For the fourth quarter, net sales were $4.58 billion, compared with $4.73 billion a year earlier.

December 17, 2013

Many retailers today are looking to bolster profits by offering merchandise outside of traditional locations. Well-known brands such as Gap, J. Crew and Disney all have been on the outlet side of retail for several years

By Tricia Downing, VP, FRCH Design Worldwide

December 5, 2013

Gap Inc. reported its November 2013 net sales increased 8% compared with last year.

San Francisco -- Gap Inc. reported its November 2013 net sales increased 8% compared with last year. Same-store sales for the period rose 2%.

Net sales for the four-week period ended November 30, 2013 were $1.63 billion, compared with net sales of $1.52 billion for the four-week period ended November 24, 2012.

November 21, 2013

Gap Inc. reported a 9.4% increase in third-quarter profit as the retailer's turnaround continues.

San Francisco -- Gap Inc. reported a 9.4% increase in third-quarter profit as the retailer's turnaround continues. The company also reaffirmed its full-year profit guidance and said it is increasing its stock buyback authorization by $1 billion.

The chain posted net income of $337 million in the three-month period ended Nov. 2, compared with $308 million last year.

November 20, 2013

Gap Inc. is rolling out its “Reserve in Store” capabilities to all U.S. Banana Republic stores and more than 200 Gap stores in 15 major U.S. markets.

San Francisco – Gap Inc. is rolling out its “Reserve in Store” capabilities to all U.S. Banana Republic stores and more than 200 Gap stores in 15 major U.S. markets. The launch, which follows a successful pilot in San Francisco and Chicago-area Gap and Banana Republic stores, makes it easy for customers to shop online or with their mobile device, place items on hold and pick them up in local stores.

November 18, 2013

Gap's new global marketing campaign, "Make Love,” includes print, outdoor, direct mail, social and cinema, as well as new digital content daily.

San Francisco -- Gap's new global marketing campaign, "Make Love,” includes print, outdoor, direct mail, social and cinema, as well as new digital content daily.

November 18, 2013

Gap's new global marketing campaign, "Make Love,” includes print, outdoor, direct mail, social and cinema, as well as new digital content daily.

San Francisco -- Gap's new global marketing campaign, "Make Love,” includes print, outdoor, direct mail, social and cinema, as well as new digital content daily.

November 8, 2013

Gap Inc. reported increased net and same-store sales during the third quarter of fiscal 2013 in a partial financial release.

San Francisco – Gap Inc. reported increased net and same-store sales during the third quarter of fiscal 2013 in a partial financial release. Gap’s third quarter net sales grew 3% and same-store sales grew 1% compared to the prior year.

In addition, Gap’s same-store sales grew 4% in October 2013. The retailer will release full third quarter earnings results on Nov. 21, 2013.

 

October 28, 2013

Consumers value salesperson expertise above all else, but they often find such expertise lacking, according to eXperticity’s first-ever Retail Buying Experience survey.

Salt Lake City -- Consumers value salesperson expertise above all else, but they often find such expertise lacking, according to eXperticity’s first-ever Retail Buying Experience survey. The study found a striking expertise gap among sales associates in five retail areas: outdoor, sporting goods, hunting or fishing, health and nutrition, and prestige beauty.

 When asked to rate which services consumers most desire and value from retail sales associates, the top four were:

1. Product knowledge (73%);

October 16, 2013

Gap Inc. has reportedly signed a non-binding agreement for Australia-based Oroton Group to take control of its franchise operation in Australia, New Zealand, and some Pacific islands.

San Francisco – Gap Inc. has reportedly signed a non-binding agreement for Australia-based Oroton Group to take control of its franchise operation in Australia, New Zealand, and some Pacific islands. According to the Wall Street Journal, Oroton Group will start running Gap’s three franchise stores in Australia in November 2013 and purchase some inventory and store fixtures from current Gap franchisee Brand Republic Pty Ltd.

September 6, 2013

Gap reported same-store sales growth in its three global retail brands in August of this year that was significantly lower than in the same month last year.

San Francisco – Gap reported same-store sales growth in its three global retail brands in August of this year that was significantly lower than in the same month last year. Gap global same-store sales rose 2% compared to 6% last year. At Banana Republic, same-store sales increased 2% compared to 8% last year, and Old Navy same-store sales grew 1% compared to 12% last year.

Net sales for the month were $1.23 billion, up 2.5% from net sales of $1.2 billion for the same month last year.