The parent company of Vans and The North Face said that the deal would accelerate its digital business model transformation.
Fitch Ratings expresses doubts about Gap's cost-cutting strategy, saying earnings will fall this year even with $100 million in expense reduction.
CFO David Dick says Sycamore Partners "used its leverage" over one of the retailer's suppliers to precipitate the bankruptcy.
The former CEO and his investors say the offer is superior to the company's reorganization plan, setting up a possible bankruptcy court showdown.
Men's Wearhouse's missteps contributed to a 14% drop in same-store sales at Jos. A Bank for the third quarter, Fortune says.
The retailer's new CEO is still confident his strategy to fix the Gap stores will improve financial performance.
Owner of Lane Bryant adds Ann Taylor and Loft brands, creating a firm with more than 4,900 stores.
