Content about Glenn Murphy

June 24, 2014

Unlike most consumers, the retail industry doesn’t take a holiday in the summer. As we head into July, three very different retail companies are very much in the news. One has the industry all abuzz over who will be its next chief, while another has launched a pioneering employee initiative. And the newly appointed chief of the third wants to turn a cult L.A. brand into a global powerhouse. I’m fascinated by all three:

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.

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.

April 17, 2013

In a presentation to shareholders at its annual investor meeting on Wednesday, Gap CEO Glenn Murphy outlined growth initiatives that include taking Old Navy international via a franchising route, and expanding on its online programs.

San Francisco -- In a presentation to shareholders at its annual investor meeting on Wednesday, Gap CEO Glenn Murphy outlined growth initiatives that include taking Old Navy international via a franchising route, and expanding on its online programs.

February 28, 2013

Gap Inc. offered further proof that its turnaround has taken hold, reporting a 61% increase in fourth quarter profit amid strong same-store sales growth across its banners.

San Francisco -- Gap Inc. offered further proof that its turnaround has taken hold, reporting a 61% increase in fourth quarter profit amid strong same-store sales growth across its banners. The results end a strong year for the chain, which also said it was increasing its dividend by 20%.

November 1, 2012

With retail books closed prior to Hurricane Sandy’s arrival in the Northeast, most retailers experienced same-store sales gains for the month of October, some with stronger showings than others.

New York -- With retail books closed prior to Hurricane Sandy’s arrival in the Northeast, most retailers experienced same-store sales gains for the month of October, some with stronger showings than others.

The 17 retail chains tracked by Thomson Reuters are predicted to report 4.3% growth in October same-store sales, up slightly over the 4.1% advance reported in the year-ago period and a significant gain over September’s 0.8% rise.

October 16, 2012

Gap Inc. is bringing several of its divisions under the leadership of one executive in order to fuel long-term growth.

San Francisco — Gap Inc. is bringing several of its divisions under the leadership of one executive in order to fuel long-term growth.

With the start of the 2013 fiscal year, the company will bring together its North American, international, online, outlet and franchise divisions under a single global executive for each of its Gap, Banana Republic and Old Navy brands. In addition, the company will form a new Innovation and Digital Strategy team to further its leadership position in this area.

May 31, 2012

With only a few exceptions, retailers are posting solid gains in May, with such chains as Target, TJX, Ross and TJX Cos. beating Wall Street forecasts for the month. The Thomson Reuters Same-Store Index, which tracks the stores that release monthly sales reports, is expected to rise 3.6% in May.

New York -- With only a few exceptions, retailers are posting solid gains in May, with such chains as Target, TJX, Ross and TJX Cos. beating Wall Street forecasts for the month. The Thomson Reuters Same-Store Index, which tracks the stores that release monthly sales reports, is expected to rise 3.6% in May.

"Analysts are taking a careful approach to May same-store sales given the cautious tone issued by most retailers on second-quarter earnings guidance," said Ken Perkins of Retail Metrics, in a research report.

October 13, 2011

Gap reaffirmed the company’s commitment to reducing square footage at home while aggressively growing its online revenue and international presence during a presentation to investors in New York City.

New York City -- Gap reaffirmed the company’s commitment to reducing square footage at home while aggressively growing its online revenue and international presence during a presentation to investors in New York City. Gap also revealed that it will explore a brick-and-mortar store for its online-only Piperlime division next year.

August 19, 2011

Gap reported Thursday that profit for the quarter ended July 30 dropped 19% to $189 million, compared with $234 million in the year-ago period.

San Francisco -- Gap reported Thursday that profit for the quarter ended July 30 dropped 19% to $189 million, compared with $234 million in the year-ago period.

The retailer, which operates the Gap, Old Navy and Banana Republic banners, cited aggressive merchandise pricing reductions for the profit decline. Results beat analysts’ earnings expectations, but the declines still raised concerns about Gap’s performance in the upcoming fall and holiday shopping seasons.

June 10, 2011

“The economic model of Outlet is the highest return on capital and is where customers gravitate," Gap CEO Glenn Murphy said at an investment conference in New York City, where he revealed the company will close 200 U.S. Gap stores and expand its outlet base.

“The economic model of Outlet is the highest return on capital and is where customers gravitate," Gap CEO Glenn Murphy said at an investment conference in New York City, where he revealed the company will close 200 U.S. Gap stores and expand its outlet base.

But don’t expect the stores to be filled with last year’s castoffs.

"I don't want them bringing stripes in the stores if stripes are last year's idea,” Murphy said.

June 9, 2011

At an investor conference on Thursday, Gap CEO Glenn Murphy announced the company will close 200 of its 900 U.S. namesake stores even as it expands its outlet presence.

San Francisco -- At an investor conference on Thursday, Gap CEO Glenn Murphy announced the company will close 200 of its 900 U.S. namesake stores even as it expands its outlet presence.

While the company did not identify which stores will close, Gap said the 200 Gap brand closures over the next two years will be accompanied by a push to expand its Gap Outlet and Banana Republic factory chains.

April 12, 2011

A report by the Associated Press revealed that Gap CEO Glenn Murphy received compensation worth nearly $6 million in 2010, an 18% increase from the year before.

New York City -- A report by the Associated Press revealed that Gap CEO Glenn Murphy received compensation worth nearly $6 million in 2010, an 18% increase from the year before.

Most of the increase came from a one-time bonus and stock awards. Murphy didn't receive any stock awards the year before.
 

February 1, 2011

Gap announced Tuesday that Marka Hansen president of Gap North America, has resigned, effective Feb. 4.

San Francisco -- Gap announced Tuesday that Marka Hansen president of Gap North America, has resigned, effective Feb. 4.

According to Glenn Murphy, Gap chairman and CEO, the decision to change leadership was mutual.

“After several conversations, Marka and I agreed this was the right time for a change in the organization in order to take Gap brand to a new level,” he said.

The apparel retailer said it has identified an internal successor to Hansen, who will be announced in the next day.

December 1, 2010

The annual Big Builders Survey measures new stores opened in 2009 and 2010, including relocations, and highlights retailers with notable construction activity.

The annual Big Builders Survey measures new stores opened in 2009 and 2010, including relocations, and highlights retailers with notable construction activity. Although not a comprehensive ranking of all retail construction activity, the Big Builders report chronicles key leaders in select categories: department stores, discount stores, do-it-yourself stores, drug stores, food stores, specialty hardlines and specialty softlines.



October 13, 2010

Gap announced Thursday that a three-to-five year strategic plan that calls for expansion into China...

October 4, 2010

President Barack Obama announced an initiative on Tuesday linking companies including Gap and McDonald’s Corp....

June 9, 2008

Speaking at the 28th annual Piper Jaffray Consumer Conference on Tuesday, Gap, Inc. CEO Glenn...

March 3, 2008

A disappointing fourth quarter is prompting Gap Inc. to abandon its spring TV campaign and...

August 31, 2007

What were they thinking? That was my...